Management Consulting
Market Data Services
Compliance Solutions
Data Usage Audits
Technology Services
Industry Solutions
Jordan & Jordan is committed in its support of key organizations in the securities industry.
FIX Protocol Ltd. defines, manages, and promotes an open protocol for real-time electronic communication between industry participants.
The Financial Information Forum brings the industry together to address the issues that impact financial technology operations and development.
RIXML.org defines an open standard for categorizing, tagging and distributing global investment research.

Audit Services

Jordan & Jordan provides a proven process, time saving tools and experienced auditors to handle the following audit services. Please click on an audit type for more information:

Quote Meter Audit
  • Select exchanges require annual audits of quote metering systems. We confirm that the firm’s quote metering system is in compliance with the re-distribution, usage and reporting policies of the various exchanges. Our extensive experience with metering systems enables us to meet exchange requirements with minimal time commitment from the client.
  • Relevant Project: Jordan & Jordan assisted an online brokerage firm in confirming that its quote metering system was in compliance with the per query distribution, usage and reporting policies of a major US exchange.
  • Typical Client: Banks, Broker Dealers, Asset Managers, Hedge Funds
MISU Audit
  • Certain exchanges may require annual audits for firms submitting Multiple Installation for Single Users (MISU) reports. We have designed audit procedures to meet exchange requirements and provide confirmation that clients are in compliance with the exchanges' reporting criteria.
  • Relevant Project: Jordan & Jordan was engaged by a global investment bank to confirm that its MISU reporting solution was compliant with the policies and procedures of a major US exchange.
  • Typical Client: Banks, Broker Dealers, Asset Managers, Hedge Funds
Exchange Audit
  • We assist exchanges in reviewing the auditees’ market data distribution and reporting processes to confirm that they are in compliance with the exchange’s policies.
  • Relevant Project: Jordan & Jordan assisted a major U.S. exchange in reviewing its vendors in order to confirm that they are in compliance with the exchange’s policies on usage of real-time data.
  • Typical Client: Exchanges
Vendor Audit
  • We ensure that firms that use market data sourced from our vendor clients are accurately and completely reporting their usage and distribution. We also verify that the use of intellectual property is in compliance with any contractual terms and conditions.
  • Relevant Project: Jordan & Jordan was engaged by an inter-dealer broker based in the U.S to audit the recipients of their specialist data product.
  • Typical Client: Traditional Vendors, 3rd Party Data Providers
Index Provider Audit
  • We assist index providers in protecting intellectual property by reviewing the auditees’ real time and end-of-day index information usage, redistribution and reporting processes.
  • Relevant Project: Jordan & Jordan was engaged by a major index provider to review usage and redistribution by vendor and subscriber firms, to ensure that these firms are conforming to its policies.
  • Typical Client: Index Providers
Internal Audit
  • We review firms’ market data distribution in order to remediate non-compliance. We identify issues, estimate potential liabilities and make recommendations for proactive remediation.
  • Recent Project: Jordan & Jordan assisted a proprietary trading firm in reviewing their market data usage and redistribution processes. The goal was to identify and remediate any potential area of non-compliance.
  • Typical Client: Any organization that supports usage of market data