Brokers have valuable data already being provided to trading clients through a variety of distribution channels as well as direct from the desk.
Once a broker decides to commercialise the use of data, first step is to implement the necessary governance and controls. From there, the process of building a commercial data business gets underway. Brokers are compromised by the challenge of creating commercial product but also need to protect their client relationships.
EOSE worked with this brokerage to review the available data and collect the data inventory. The firm had hired a team to set up and grow the commercial data business but didn’t want to wait for their non-compete to end before commercialising the data. EOSE worked with the internal teams to create the data governance framework for internal ownership, whilst implementing external compliance and controls.
EOSE set up the process and tools for the incoming team. A data license, policy and process were ready and approved by the group legal team. A data inventory – showing data from across multiple desks with relevant reference rates, tenors and identifiers – was created, ready for their product development and packaging. Six key vendors, identified as ‘of interest’, were approached and introduced to the brokers. EOSE overall engagement accelerated the time to market and reduced costs once the new team landed.
Build your market data business for you to run yourself, perhaps with additional support from EOSE data sales specialists.
Support your existing business with our experienced market data professionals. An extra pair of hands when, or where, needed.
The fully outsourced solution. EOSE work with you, and for you – developing and growing your market data business.
We also recommend the bolt-ons you may require, and may introduce new solutions, specifically for your needs.