Economic Woes Drive Sourcing Decisions

Whereas sourcing decisions tended to be driven by functional requirements during times of economic expansion, firms are now being forced to begin selection and procurement processes by looking at budgetary constraints, and then work backwards to determine how to meet their functional requirements, said David Berry, market data sourcing specialist at UBS.

As a result, many bank's market data managers find their relationships with vendors in "a much more extreme position," where they sometimes have