Market Data and Exchange Review

Market Data and Exchange Review for Financial Services

Introduction:

eDelta was requested to assist a global investment firm with 250 employees with a market data services review, to assess the clients its use and distribution of market data across the enterprise in addition to assessing the accuracy of the market data provider invoices. Proprietary tools and spreadsheets were developed and deployed to aggregate market data use and billing information. Through detailed interviews with users, and detailed analysis of invoices and usage statistics, the accuracy of invoicing was assessed.

Our client had very large fee’s associated relating to market data and exchanges.  The goal was to ensure that each market data provisioning was limited to what was essential to a users job responsibility.

Our review included the following:

  • Accuracy of Exchange fee’s;
  • Identification of duplicate charges;
  • Unused and/or unnecessary market data services;
  • User employee status changes; and,
  • Contract review.

Additionally, eDelta reviewed the timeliness by which market data provider responded to changes and whether those changes were duly reflected within the invoices.

Our assessment identified gaps and provided cost-effective ways to save on market data fees, recommendations to implement improved user on-boarding and termination procedures, and improved market data use monitoring. We also recommended and implemented software to track and monitor market data expenses. The review resulted in a savings of over $600,000.