… audits are necessary primarily because the industry operates on an ‘honesty system’ where exchanges and vendors rely on non-controllable means to determine actual data distribution.
Reducing administrative costs is a goal shared by exchanges, vendors and users.
… the number of audits is increasing. I don’t think that this trend will change until a viable technology solution emerges that is an appropriate substitute for physical audits.
NGA is a brilliant concept which would greatly support my work as market data manager. The political implications could be the biggest challenge.
NGA would allow me to ensure accurate and timely revenue forecasts to my shareholders.
… DACS and Open DACS were developed to help our clients be compliant. But our business is selling data, not admin tools.
… although we live in the 21s century our industry still relies on tools to manage market data that were developed in the 70’s. No wonder we are in a mess.
… audits are becoming a growing pain and I am not far from the point that I will say no. Come back if you have contributed your part in solving today’s increasing administrative headache.
I am sure we would rather have invested in a innovative concept like NGA than paying penalties and back billing fees to Exchanges during the last few years.
As most financial market data and news services are fee liable, permissioning and permission auditing is a crucial issue between exchanges, vendors and banks. Especially in an environment of sharply falling revenues, active cost control and increased regulation.[read more >>]
Traditionally data and/or application authorization is highly proprietary, with Reuters DACS as today’s standard. In the current environment demand for a vendor independent and reliable authorization system that ensures full transparency, flexibility and control and helps banks fulfill compliance regulations is growing.[read more >>]
NGA also offers billing services for market data vendors and data originators or provides the billing information to market participants in a standardized format. Since all participants have access to an identical data source, full transparency is ensured.[read more >>]