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Cut pricing and reference data costs by 25-50%

Invoices show the spend, but not the cause—and by then it's too late. Our reference data solutions stop waste before it starts. Through usage monitoring, rate card optimization, field-level optimization, and intelligent caching and routing, we help you find more cost-effective ways to acquire your pricing and reference data, without disrupting the systems that depend on it.

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reference data management solutions

When spend keeps rising and no one can tell you why. Take the guesswork (and the sting) out of reference data

Reference data is expensive and subject to complex licensing agreements. Feeds from vendors such as Bloomberg (Data License), Refinitiv (DataScope Select), ICE and others are crucial to financial institutions, yet reference data is expensive and its use is subject to complex licensing agreements. Poor visibility and limited control over these very high cost services creates complex challenges for cost control and governance.

Financial institutions find it increasingly difficult to control and report on usage of reference data. Data enters the firm from multiple vendors, each with its own usage agreement and cost model, making it very difficult for most companies to trace back who internal data consumers are for chargeback purposes, or simply to ensure usage is compliant with licensing agreements and optimized.

To further complicate matters, reference data vendors often have legal frameworks that dictate how data can be used and distributed internally and externally, leaving organizations with the burden of identifying how data flows through their systems and ensuring they remain compliant.

Our reference data solutions solve these problems and provide unparalleled transparency, control and governance over reference data usage and spend.

Through real-time usage monitoring, rate card optimization, field-level optimization, and intelligent caching and routing, we help you find more cost-effective ways to acquire your pricing and reference data, without disrupting the systems
that depend on it.

Complete control over reference data usage

Managing reference data from different vendors, with several contracts and multiple internal consumers, is challenging. Reference data is costly, vendor commercials are difficult to model, and access to data is subject to compliance and regulatory requirements. Our reference data solutions address these challenges end to end, from monitoring usage to acting on it.

Our software focuses on reference data usage management, business process monitoring, data caching, intelligent routing, and reference data connectivity. It empowers your Market Data team with the tools they need to manage reference data usage in an agile and cost-effective way.

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Real-time reference data usage monitoring

Our reference data solutions provide total transparency and control of reference data flows into the enterprise. They analyze data requests to vendors in real time and provide both a detailed breakdown of individual costs and aggregate costs across consumers.

With our solutions, your organization can implement access controls, enforcing compliance and placing cost and usage limits per consumer. Using the platform's REST API, your teams have a unified format for data access, simplifying connectivity and increasing agility.

Our reference data solutions track in real time: 

  1. Data requested from external data vendors (e.g. Bloomberg, Refinitiv)
  2. Data flowing between internal applications
  3. Data leaving the firm

 

How market data leaders are reducing spend and increasing control worldwide 

Data caching and intelligent routing: Turning insight into savings

Monitoring shows you where the cost is coming from. Data caching and intelligent routing is where those insights become savings. Deployed as an on-premise proxy gateway, this layer sits between your systems and your data vendors, automatically directing each request to the most cost-effective source, whether that's a local cache, a bulk file, your internal data lake, or the vendor itself.

Static data is cached to eliminate duplicate charges, expensive requests are routed to lower-cost alternatives, and every optimization is proven out through parallel testing against your live production feed before it ever goes live, so your teams can trust the data before they rely on it.

How can we solve your reference data usage challenges?

Establish complete transparency over reference data downloads

  • Obtain details about reference data downloads — by system, by day, by time of day and much more... long before invoices are issued
  • Identify usage spikes and cost optimization possibilities

Run simulations and what-if scenarios


  • Upload custom pricing matrices and simulate impact of vendor commercial changes
  • Simulate the costs of a reference data request before it is sent out to the vendor

Control and permission reference data

  • Validate and check expensive or non-compliant requests before they are sent to vendors
  • Route requests intelligently or replace fields by more cost-optimal alternatives
  • Cache static and slow-changing data to remove repeat charges for the same request

Run data usage cost analytics and cost allocation reports

  • Allocate costs back to internal systems, trading desks, business divisions or regions in a repeatable, timely and transparent way

Run audit and usage reports on-demand in a few clicks

  • Generate audit, compliance and business intelligence usage reports through the advanced Data Explorer functionality

Generate proactive overspend alerts and compliance breach notifications

  • Be alerted in case of vendor response time breaches, technical errors or expensive data requests

Reference data insights: Expert service

Our expert service gives your team access to specialists in reference data pricing models and usage agreements. It allows your business to make the most of your reference data solutions and to swiftly respond to cost optimization, analytics and usage compliance requirements, efficiently and precisely.

The service provides intra-month and end-of-month benefits delivered by a team of experts, working as an extension of your market data team, to support intra-month, ad hoc and end of billing cycle needs.

Key takeaways

  • A central solution for managing reference data usage
  • Optimized reference data spend through monitoring, caching and intelligent routing
  • Less time spent understanding and managing invoices
  • Simplified and more agile reference data architecture
  • Improved governance and usage reporting
  • Improved quality and data download process monitoring
Ready to gain transparency, control and governance over reference data usage and spend?

Learn how you can take complete control over reference data usage.

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Ready to optimize your market data and subscription spend & usage?

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