market data management graphic

Market data management at your fingertips

Date: Thursday, March 1, 2018

Keeping up to date with all the policy and price changes made by exchanges isn’t getting any easier. Are you one of the many market data professionals facing this problem? There was an optimistic view in the market data industry, that once all the MIFID II policy and pricing changes had been implemented, that things would quieten down for a period, and everyone could get back to day to day management of their market data. This has not been the case, as there have been many revisions and clarifications to contracts and policies, to try to reflect all the intricacies of MIFID II. In practice, this means having to trawl through long policy and pricing documents to see what amendments have been made since your last read through prior to 3rd January 2018. Even for a few exchanges this is extremely tedious and when it is across multiple exchanges, the complexities multiply. Axon’s market leading exchange policy repository, PEAR, was developed to solve exactly this kind of problem. PEAR contains detailed information on over 160 exchanges that is verified daily, to check for any changes to rules, prices and policy interpretation, taking the weight off your shoulders. What makes PEAR unique is that it is not just another database of cut and pasted policies or collated contractual documents; each policy has been interpreted, analysed and reviewed by our team of market data experts with extensive exchange policy and audit experience. If you have questions on how data should be used or what licensing is required for a particular application, then PEAR has the answers. The granular nature of the PEAR database means that all the content is searchable through the built-in reporting functionality, allowing you to simultaneously compare products and policies across multiple markets. The ‘What If’ functionality is a one of a kind cost scenario tool, which allows you to quickly and easily translate application data needs, into fees and licensing requirements, all in a few mouse clicks. By merging the use of technology, and the combined expertise of a team of experienced market data specialists, to monitor, update and translate the many exchange policy and pricing changes, Axon has created the only highly efficient and technology-driven compliance platform for market data management in the industry. If you would wish to find out more about our PEAR product, please contact: