Witad Awards 2020: Market Data Professional of the Year—Amanda Duggan, LSE Group
When it comes to market data, the London Stock Exchange Group (LSEG) is best known for producing—and amassing sizeable revenues for—massive volumes of price data to market participants. Perhaps less known is that as its indexes and analytics business lines have grown, the exchange group has found itself becoming a larger consumer of third-party data to support these products, and now captures data from almost 200 suppliers.
So it makes sense that the exchange would also adopt enterprise-wide data management processes more commonly seen at financial firms that consume exchange data. And the person who has led that charge over the past 18 months is LSEG’s senior manager of data sourcing and vendor management, Amanda Duggan.
“There has been a push from our side to understand the quality [of data from third parties], and to do our own quality assurance testing to understand that the data is accurate and is being delivered in a timely manner. And we’ve been able to put in place a lot of best practices to further improve that data integrity and data quality,” Duggan says.
These practices start with service-level agreements and vendor scorecards—widely adopted by financial firms for assessing suppliers—which allow the exchange to compare vendor services, ensure suppliers are meeting performance criteria, and to use that data when evaluating providers and negotiating services.
“It’s about being transparent around our usage, and having a more integrated, enterprise-wide data strategy … that ensures data can be used enterprise-wide, not just in siloed divisions,” she says.
Duggan has also implemented a three-tier system of classifying vendors—Silver, Gold, and Platinum—based on the level of information they provide about their services and how well they communicate with the exchange about any service issues.
These measures aren’t just about managing the cost and reliability of third-party data; when onboarding a new supplier, or refreshing an existing contract, LSEG also assesses factors such as a vendor’s information security practices, its code of conduct, whether it is subject to any sanctions, and performs a financial healthcheck on each supplier, to ensure they comply with LSEG’s procurement and risk practices.
Duggan’s team—spread across London, New York, Fort Mill in South Carolina, and Malaysia—also set up a Data Sourcing Committee that approves all new data before a contract is signed.
This year Duggan plans to create a strategic framework to ensure some of its third-party datafeeds are fit for purpose and align with the exchange’s strategy, pursue more enterprise data licenses, and ensure that all suppliers deemed “core” attain the Platinum service tier.
—MB
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Witad Awards 2024: Rising star (vendor) – data, engineering & product development—Roberta Bill, SmartStream Technologies
Roberta Bill, product manager at SmartStream Technologies, wins rising star (vendor) – data, engineering & product development, in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Technology leader of the year (end-user)—Sejal Shah, BNP Paribas India Services
Sejal Shah, director and head of Global Markets IT BNP Paribas India Services, wins technology leader of the year (end-user) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Reference data professional of the year (end-user)—Ludmilla Morgunova, BNP Paribas
Ludmilla Morgunova, Java developer on BNP Paribas’ Referential Data Platform, wins reference data professional of the year (end-user) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Vendor professional of the year (trading and risk)—Mina Wallace, SS&C Algorithmics
Mina Wallace, general manager and senior vice president of the risk management business unit at SS&C Algorithmics, wins the vendor professional of the year (trading and risk) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Above and beyond award (vendor)—Susan Bennett, Tradeweb
Susan Bennett, managing director, global head of product marketing at Tradeweb, wins the above and beyond award (vendor) in the 2024 Women in Technology and Data Awards.
Women in Technology & Data Awards 2024: All the winners and why they won
WatersTechnology honored the winners of the 36 categories in the 2024 Women in Technology & Data Awards, who were announced at a sit-down lunch in London on International Women's Day on March 8.
AFTAs 2023: Best new technology introduced over the last 12 months (data & data services)—SS&C Aloha
Northern Trust: Improving transparency across the asset servicing market
Northern Trust won three categories in the 2023 American Financial Technology Awards. Paul d’Ouville, global head of technology solutions and servicing at Northern Trust, discusses his firm’s fourth consecutive win in the Best reporting initiative…
Most read
- Women in Technology & Data Awards 2024: All the winners and why they won
- Witad Awards 2024: Above and beyond award (vendor)—Susan Bennett, Tradeweb
- Fighting FAIRR: Inside the bill aiming to keep AI and algos honest