Vendor Services

Vendor Management

The MDMS Vendor Management service enhances our client's ability to control cost, manage risk, maintain a professional relationship and ensure dependable delivery of service.  Our interaction with many of the vendors in the market data space allow us to not be tied to any one vendor management tool.  It is our experience that adds value to our clients, not the technology.

  • Negotiation of new and renewed contracts
  • Assist in implementing a risk assessment and workflow system
  • Provide alternative vendors where cost or performance becomes an issue

Creation of a database to provide visibility into the cost and key terms and conditions is critical to any client who purchases large amounts of market data.  If this does not exist at your firm, MDMS will partner with Accounting, Legal and the vendors themselves to centralize all key contract data into a searchable database. Already have a tool? MDMS can manage the data content going forward.

  • Perform invoice reconciliation matching each invoice to a specific contract
  • Execute contract review process with business based on documented renewal dates
  • Create management reports to analyze market data spend by Vendor, Category, Department and User
Cost Reduction

Market Data is typically a top 5 spend at any firm.  MDMS provides a service to review your use of data, current contract terms and alternative vendors all designed to reduce costs.  We typically save our clients 20% or greater within the first 12 to 18 months of the engagement.  Smaller 3 month assessment packages are also available.

  • Rationalization, validate the need for all of the data currently under contract
  • Optimization, determine if you are using your existing data in the most efficient manner
  • Through Client/Vendor Experience, MDMS can implement proven cost saving strategies.

Exchange Services

Exchange Management

Exchange Management includes taking ownership of the Vendor of Record (VOR) responsibilities that come with the use of exchange data.  Our  service covers all interactions between your firm and the Exchange. We manage the burden of policy compliance and the exchange relationship.

  • Manage Relationships with Exchanges including Document and Declaration filings
  • Policy Review and Interpretation
  • Data Access and Reporting including database enhancement
Nonprofessional Subscriber Verification

Companies redistributing exchange data to retail or nonprofessional subscribers have an obligation to ensure these subscribers qualify as nonprofessionals.  The MDMS service uses a combination of automated and manual reviews to fulfill this requirement.  

  • Comprehensive Review Process
  • Detailed Results Including Support for Each Classification (Pro, Non-Pro or Unknown)
  • Understanding of Nonprofessional Policy from Each Exchange
Market Data Compliance

Exchange and vendor audits are inconvenient, inevitable, and expensive. You can rely on our expertise to reduce your fee liabilities and get you into compliance. We have 20 years experience interpreting exchange policy that adds a level of protection to our clients during and after an audit. 

  • Assist Clients in Understanding and Maintaining Compliance Pre and Post Audit
  • Leadership in Preparation, On-Site or Remote Meetings and Negotiating Results
  • Perform Required Quote Meter, Indirect Billing and MISU Audits