Due North: Inside TMX Group's Bold Data Audit Overhaul
Toronto's TMX Group is looking to revolutionize the way that it conducts data audits with users. While the early feedback is positive, will others follow suit?
“I love data audits,”…said no one—ever.
The process by which exchanges audit subscribers to ensure they are in compliance with the exchanges’ data licenses is at best intrusive and inconvenient, time- and resource-consuming, and, frankly, insulting to those who make best efforts to ensure they report and pay for data correctly. At worst, it can be a costly fishing exercise, involving back payments and penalties if auditors discover any transgression.
In short, audits have been a bone of
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