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.
CONTRACT INVENTORY MANAGEMENT
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.
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.
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.
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.
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.