LSE Softens Stance on Data Audits

The London Stock Exchange last week sought to reassure delegates that it will work with user firms to address the touchy subject of exchange audits.

Colleen Dennis, head of market data audit at the exchange, acknowledged that many data clients feel in a permanent state of audit as exchanges act on their contractual rights to audit data usage. "Firms don't have a dedicated resource to manage audits," she said, with the result that some audits can run in excess of 18 months, which leads to problems