• inside_market_data
  • inside_reference_data
  • buy_side_technology
  • sell_side_technology
Oliver Rose, Societe Generale; Mark Bands, ANZ; Jeremy Green, Standard Chartered; Miguel Ortega, Deutsche Securities Japan

Asia-Pacific Financial Information Conference: Asia-Pacific Firms Target Data Cost Controls

  • Send
  • Comment
  • Send to Kindle

Though financial markets in Asia-Pacific have outperformed other geographies in recent years, data managers in the region are increasingly turning their attention to reducing the cost of the data services their firms consume, according to panelists at last week’s Asia-Pacific Financial Information Conference.

“The biggest change we’ve seen in the last few years has gone from growing revenue to maintaining our expenses line,” said Jeremy Green, global head of market data at Standard Chartered. “Every year we look at budgets, focus on expenses… and find that if we can present context around how people are using data, we can usually reduce costs by 5 to 10 percent without doing anything major.”

Mark Bands, head of global customer reference data at ANZ Institutional Bank, agreed that simple steps can yield results. “When you set up an organization within a firm to monitor usage, it’s amazing what you can find by looking at what data you have, what you need, and what you can do without,” he said.

Green added that Standard Chartered has achieved some degree of success by marrying its supply management and demand management functions, providing a clear picture of where the firm has growth and where it can reduce services—but that however a firm organizes its data function, a key element is to have a group-wide view of all contracts supporting its data needs.

However, a lack of competition among niche regional vendors can make it hard to substitute services for cheaper alternatives, said Miguel Ortega, market data engineer at Deutsche Securities Japan. “Asia is a little different from the rest of the world, because we have different needs. There are some local vendors with data that only they have—so it is difficult to look elsewhere to meet our clients’ needs,” he said.

An alternative to focusing only on reducing spend is to lobby for more budget by demonstrating where cuts cost money, such as charges as a result of incorrect settlement instructions. “Yes, we’re being asked to do more with less budget, but part of our job is to point out the costs of bad data,” Bands said.

However, any cost control efforts must be ongoing and sustainable, such as monitoring usage, reviewing services, and having end-users self-certify their usage, and should include evaluating what additional value vendors are willing to provide to keep costs low, Ortega said.

  • Send
  • Comment
  • Send to Kindle

More from Inside Market Data

Sign-up for WatersTechnology email newsletters

Register for regular alerts to receive up-to-date news directly into your inbox

Related Articles

Latest Media


Visitor comments Add your comment


Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions Your comment will be moderated before publication

Submit your comment

Winner's Announced: Inside Market Data Awards 2014

View the winners...

The winners of the 12th annual Inside Market Data Awards 2014 and Inside Reference Data Awards 2014 were announced in New York on May 21, recognizing industry excellence within market data and reference data. To view the winners across the 31 categories click here.




Latest Whitepapers


Tackling Teething Troubles: Examining the Current State of the OTC Derivatives Market

The over-the-counter (OTC) derivatives market is in the midst of a global regulatory restructure. Authorities in Europe, Asia and the US are currently...


A data-centric approach to portfolio management

A fast, flexible and reliable investment decision-making process must be based on access to accurate and consistent information throughout an organization....