Market data displaying on a computer screen

How Axon is disrupting Market Data Management

Date: Monday, April 24, 2017



One of the biggest problems facing market data professionals today is how to keep up to date with all the policy and price changes made by exchanges. Hardly a week goes by without a new price list or policy change flashing across their screens, and that’s if they even receive any notification. With Exchanges relying on vendors and subscribers to spread the word about this information, there is always a risk of the message becoming lost in already overloaded inboxes. This typically results in data users having to seek the information out, and this is where Axon comes in... A first in market data management Thanks to Axon, for the first time in exchange data history, the need for market data professionals to be constantly on top of every new exchange policy and price update has been removed, freeing them up to get on with what they are good at, negotiating contracts and managing costs. Combining technology and expertise By merging the use of technology, and the combined expertise of a team of experienced market data specialists, to monitor, update and collate the many exchange policy and pricing changes, Axon has created a highly efficient and technology-driven approach to market data management that is disrupting the industry. The Axon market data management platform takes care of the tsunami of exchange policy updates and cost changes, meaning that the market data professional has more time to focus on other priorities. Standardised Terminology Not only does the Axon platform save time spent on monitoring policy and price changes, but it also cuts through the myriad of policy descriptions to provide a consistent and standardised terminology that is searchable and comparable across venues and providers. Need to know which licence you need for your Risk Management app from 10 exchanges? No problem. The Axon platform will provide you with this information. If an application owner comes over and asks you what it would cost to add two exchanges to his application? A quick ‘whatif?’ calculation in the AxonKnowledge platform, using PEAR, will tell you what you need to know in minutes, not the hours or days it would take to contact multiple exchanges to get these answers. Thanks to Axon, this information is available at your finger-tips, allowing users to scope out requirements at the very early stages of the planning process without the need for a delay, before being able to answer internal consumers. Keeping on top of costs and compliance Great, so you know the cost, but how do you keep this information up to date? Axon is disrupting the market again with its Application Compliance Tool, (ACT), that lets you onboard, as well as manage the annual recertification of, new applications and new exchanges, into existing applications without the need for a stack of documents that will go out of date very soon after they are completed. ACT provides you with a living universe of what your applications are doing and which data they consume. Exchange audits Do you have an upcoming exchange audit to prepare for? The Axon platform makes this task a lot easier by enabling you to run a report, using ACT, based on bespoke, pre-stored questions and answers which can be handed to the auditor saving a significant amount of energy on complex and time consuming application questionnaires. Save time and money on data usage Furthermore, with the Automated Declaration Service, (ADS), not only can the Axon platform save you time, but also money, by applying netting and other cost saving rules to your data in an automated process, which systematically cuts costs and reduces errors when compared to manual cross checking. Each of the individual applications within the Axon platform is very powerful in its own right, but integrating two or more of these tools could revolutionise the way you manage your market data.