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At Harco Technology we believe that market data is most efficiently
managed as a complete business process. This process has three components:
1. User entitlements
- what services can a trader view?
2. An inventory of
costs - how much do these services cost?
3. Usage analysis
- show the extent and cost of any services that are not used?
An effective market data business process will identify the worth
of each service and cancel entitlements relating to any service
not being used effectively.
It is the third component of the business process that has been
largely absent up to now. Harco's DART product has been widely adopted
and is regarded as the industry standard solution to the identification
of unused market data services.
DART sits between the entitlement of data and the cost inventory
and interfaces to reveal the actual cost of unused services to the
business. DART provides a single point of entry from which market
data expenditure can be managed, and shows the actual cost impact
of unused services at any level of the organisation - user, cost
centre, department or region.
For DART to work optimally a client will have a permissions system
- in the Reuters world this is either DACS or TIB Entitlement. This
system will control each trader's access to market data, whether
from a vendor, exchange or specialist service provider. Permission
systems provide the basis of declarations to the vendors and exchanges
about how many traders are accessing their data.
The efficient management of market data requires that costs can
be accurately reported and re-allocated to the business. This part
of the business process is typically referred to as cost inventory
and it provides a static accounting view of market data liability
and cost. Cost inventory systems are either developed in-house or
are provided by a third party such as MDSL (MDM) Screen Consultants
(INFOmatch), or The Roberts Group (FITS). DART has active interfaces
into most standard cost inventory applications and Harco is very
experienced in interfacing to a client-specific system.
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