Market Data Managers are constantly navigating an ever-changing web of exchange, index provider, and data vendor pricing, policy and permissioning updates in parallel with data feed and delivery changes.

Changes are communicated as a constant stream of notifications and document updates that point to revised policies, agreements, and price lists, with multiple notices from exchanges and vendors on the same underlying change; each one having to be reviewed independently and manually. Whilst most notices have no impact, some require a new fee, an entitlement change, a new reporting obligation, or a new agreement.

Analysing the change and understanding its impact is a manual task that requires specific knowledge on the firms consumption and the piecing together of business context that's distributed across a web of internal systems and third-party platforms, or buried in usage constraints in custom agreements. The information has to be manually reconciled and pieced together by over-stretched, expert resources whose time is consumed by manual, repetitive tasks.