Expense Management

We provide strategic consulting services to fit your firm’s needs, whether you are a user, provider or distributor of market data.

  • Services for Brokers, Investment Managers, Exchanges and Vendors
  • Reconcile general ledger against invoices and contracts
  • Identify underused or duplicative services
  • Identify users who did not need real-time services or all entitled exchanges
  • Take advantage of exchange policies such as MISU or development exemptions
  • Assess compliance which saves money when audited
  • Competitive product displacement

Relevant Engagements

Client Type: Global Investment Bank

-Market Data Spend Analysis

    • Analyzed the market data usage and spending to identify potential cost reduction opportunities.
      • Reviewed market data vendor contractual obligations, including termination and renewal dates, usage requirements, early termination penalties, etc.
      • Identified current usage and requirements, including under- or non-utilized products and non-essential market data permissions
      • Provided comparable vendor product comparisons for required data products where available
      • Analyzed vendor product usage to identify potential savings through contractual negotiation where alternative products were not available
      • Reviewed the market data inventory and reporting process to identify opportunities for optimization
      • Developed total annual savings potential based on viable market data alternative

Client Type: Major US Buy- and Sell-Side Firm

-Market Data Spend Reduction Initiative

      • Analyzed over $200M USD in annual market data spend at the business unit, cost center, and user levels to identify quick wins, long-term savings opportunities, and strategic objectives.
      • Projected annual savings by vendor across four spend reduction levels for communication at the executive level.
      • Worked with business units to execute on savings initiatives identified during analysis phase.
      • Reconciled contracts and invoices to identify instances of vendor over-billing.
      • Developed firm-wide best practices to ensure long-term benefits of market data spend reduction efforts.