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 keeping 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 can have a big 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 to fully optimize your processes. The management and control of the market costs can be done through:
- A tool that enables 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 empowering you to 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 institutions in Financial Market Data Management.
- Market Data Status (As-Is). It gives you a “snapshot” of the current situation of your Market Data costs, a vision to improve compliance in eventual audits and optimization proposals.
- Cost inventory Managed Services. Leave in the hands of experts the inventory maintenance and reconciliation of cost invoices from information sources.
- Specialized consulting. From support and training to specific cost optimization projects for Market Data services (such as terminals, reference data...) Tell us what you need and we will tailor it to your needs.
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.
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.
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.
