Optimize your
market data costs
Reduce costs and optimize processes with market data management.
Do you have your market data management under control?
Keeping the balance between delivering good service and having budgets under control is always a challenge for any business. A financial institution is no different, and in your job it can be very complicated to identify points of improvement or to rationalize the costs of your department.
Market Data costs are usually among the most significant ones in financial entities, so even a small optimization has an impact.
Much bigger than you think.
Discover the benefits of optimizing Market Data and how it can help you in your day-to-day work, and your institution to reduce costs and optimize processes.
Benefits of optimizing market data
1. Transparency.
Achieve transparency both in new contracts and in data usage. It is important to:
- Know the situation of your entity in terms of market data management, identify opportunities for improvement and act from there.
- Know that transparency in the market data management also allows to clarify the services contracted, and to know which departments or areas of the entity are using them, and the cost of these services broken down by area, department, or even by person.
- Know that it is a subcontracted service: we take care of the entire management so that you have access to clear, objective and updated reports, which will enable to to make better decisions.
2. Cost management and control.
Manage your market data costs and current contracts at a granular level in order to optimize processes to the fullest. The management and control of the market costs can be done through:
- A tool that helps you and your department to manage and control all market data costs.
- A comprehensive service: in addition to a tool that allows you to manage and control costs, you receive our market data advice as well as clear, objective and updated reports for areas where there are opportunities for improvement and thus make the best and most efficient decisions.
3. Usage control.
Optimize the costs of terminals and applications with 100% objective, data-based recommendations and a roadmap to follow. Usage control allows to:
- Improve decision-making based on real data.
- Have a technical and detailed knowledge of the use or underuse of terminals and applications
- Raise the negotiation for costsavings with the end user.
You can have access to the advantages of market data optimization through customized training or consulting services adapted to your entity.
How to optimize your financial institution's market data with MedySIF?
MedySIF offers solutions that cover the main technology and innovation needs of financial entities in Financial Market Data Management.
Your starting point in market data optimization:
MARKET DATA STATUS
It offers a “picture” of the current situation in market data cost optimization, and also, a vision to improve the level of compliance for eventual audits.
Gain transparency in market data costs.
MARKET DATA TRANSPARENCY
It allows you to cut costs and be compliant without the need for a large investment in cost inventory management software, with actual data and a very intuitive web interface.
Tools for market data cost management.
MDO Cost Inventory
Consulting, support and training in market data.
MDO Manage Service
You can have access to the advantages of market data optimization through customized training or consulting services adapted to your entity.
Terminal cost optimization consultancy
MDO USAGE
Cost optimization and rationalization (if it fits your entity) focused exclusively on terminal usage control.
Finding out if market data optimization is of interest to you
If you take care of any of the tasks described here, we can help you optimize the market data in your entity:
- You receive requests from market data users for new markets, new services or new terminals
- You are in charge of dealing with market data incidences
- You enable permissions for users to access market data services (markets and screens, among others)
- Are you the one who manages with the vendors the inclusion of new services?
- Do you negotiate with the vendors the framework contracts?
- Are you the one who receives the invoices?
- Are you usually in charge of checking the invoices and validating or reconciling them?
- Are you in charge of paying the invoices?
- Do you usually make the reports for upper management?
- Are you the person who attends the audits?
- Are you in charge of preparing budgets?
- Do you optimize budgets?
- Do you work on the entity's efficiency?
- Are you a user of the entity that consumes data?
Learn more
If you are interested in any of our services, you can reach out to us by filling this form.
Discover why MedySIF is the right solution to optimize your entity's market data
FAQs
The most frequent questions about our market data optimizacion services.
A report with the general status of the market data management situation from its different aspects, as well as recommendations for all identified opportunities for improvement.
Depending on the team’s availability and the entity’s complexity, it can take one or two weeks.
As MedySIF’s services are tailor-made for each client, the price of the service will be defined once a first diagnosis has been made.
With MDT service the client gains transparency in market data costs, through reports and a dynamic dashboard that will facilitate management and decision making.
They make budgeting easier because they provide cost accuracy of market data services and automate budgeting. By being transparent about everything that is contracted and how much each user, area and department costs, the entity finds it easier to prepare more assertive budgets.
Transparency allows the client to know exactly which products they has contracted and facilitates the reporting to the stock exchanges since with a few clicks they will be able to obtain the necessary information to complete it and be compliant. Similarly, at the time of an audit, the information is centralized, providing security for both the client and the auditor.
Another advantage is that it is possible to know if you are really using the products you have contracted in the right way, depending on the contract with the vendor. The control of this type of information is not so easy for the entity and the control automation prevents the entity from suffering sanctions for the incorrect use of the data by vendors or data suppliers.
The service allows to record and track market data costs from the date the client needs it, providing a control of everything that was done for each user, product and existing service. The accuracy of the service will depend on the communication of the actions carried out by the entity for each invoice / product / user / department.
Our experience allows us to say that this service fits all types of entities, especially a small entity. In the projects led by us we identified that a small entity suffers from not always having a dedicated team to do the market data cost control management. However, it has to deal with the complexity that this control implies, taking into account the importance of these costs.
The service provides reports as listed below:
- Monthly cost per area
- Monthly cost per vendor (General)
- Monthly cost per vendor and product
- Report for filings to stock exchanges
- Among others
Market data cost control has many peculiarities and complexities that a cost control system can provide. A tool dedicated to the inventor control of market data costs allows the entity to have easy access to all the information that is centralized, and can integrate this data with other interfaces of the entity by automating processes such as invoice reconciliation, budgeting, etc. Functionalities that make this management more efficient by offering constant and transparent control and promoting market data cost rationalization.
By obtaining transparency and accuracy on market data costs, the entity obtains clarity regarding all contracted and assigned products. This transparency allows to identify improvements (such as cost duplication) and the efficiency obtained in these activities promotes an eventual reduction of resources dedicated to these activities.
MDO is a service that allows financial entities to have a system to collect terminals data, have transparency about the actual use of Bloomberg terminals, and obtain clear conclusions based on objective data about the measures to optimize terminal costs up to 40%.
