Vendor and Data Management

All Financial Institutions have a requirement for Vendor Management within Market Data, whether that’s Real-Time / Delayed or Static / Reference data. Additionally, with new global regulations pushing the industry to secure access to increasing volumes of reliable high quality data, the global demand has pushed up the cost of Market Data to over USD$30 Billion per annum (according to a recent 2018 Burton-Taylor report). Whether that’s international banking rules under Basel III, MiFID II or the new liquidity and report modernisation rules under SEC.

32T has over 20 years’ experience within Vendor Management, Market Data, Data Cost Management is able to help generate efficiencies and optimise consumption by providing a number of services:

Vendor / Contract Management and Procurement
As businesses adopt and grow, their data requirements change. Having an effective Vendor / Contract Management and Procurement policy in place can offer significant benefits. Data Cost Management can provide:

  • Help managing renewals and negotiate increases with the incumbent data provider
  • Identify unused or no-longer required services
  • Review alternative data providers
  • Check usage information against the requirement for the service
  • Benchmark with alternative provider pricing
  • Responsive SLA times for outages, billing issues, service updates
  • Compare data providers and new companies who may tailor a service to fit around your exact requirements
  • Negotiate mutually beneficial contractual terms

Market Data Optimisation projects.

  • Front Office Market Data Audit – Regular reviews can on average produce 6-figure savings, more if a review has never been carried out before. Data Cost Management can perform a complete review on all services being used by users and identify (and implement) cost opportunities.
  • Static / Reference Data Review – All financial firms have a requirement for Market Data data-licences to satisfy regulatory requirements, settle trades and manage their back office systems. Data Cost Management can help manage, optimise and introduce efficiencies to the data consumed
  • Fee-liable Exchange / Broker Data Compliancy – Systems need to conform to the rules set out by vendors distributing Exchange and Broker data. Data Cost Management can help ensure all applications comply with the rules.
TOP