The IMD Wrap: Exchange, data vendor audits continue to rankle end-users—what will change in 2024?
While the data auditing process has been contentious for a long time, Max looks at some of the positive improvements made in 2023 and explains why more improvements need to be made in the New Year.
During a market data audit, an exchange or data vendor—or a third party acting on their behalf—conducts an in-depth assessment of the data a firm uses from them. The goal is to ensure the end-user is using the data in accordance with its contract and license. That may range from counting how many human recipients can display a particular source’s data on their workstations, or tracking data from server to server, checking whether data is being used anywhere outside the scope of their agreement
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