IMD Chicago 2011: Firms Eye Interrelationships, Quality in Procurement

While data quality and transparency are key criteria for selecting vendors, trading firms must increasingly take into account the interconnections between different markets when considering content needs, according to panelists at Inside Market Data Chicago.

For example, whereas in the past, oil traders would base crude oil prices on actual production levels, today they would also consider the S&P 500 index, foreign exchange rates and data on other financial markets, said Howard Simons