3di, a software and services specialist in market, reference and derived/computational data,today launched DCDM, its Data Compliance and Dependency Management solution. DCDM is a web-based tool that enables financial institutions to store & evaluate user, desk, application and exchange dependencies on third party market data. The solution will enable clients to pro-actively manage their vendor, broker, exchange & other third-party content exposures to ensure they are subscribing to the right market data providers for their requirements, and that they are compliant with each provider’s contractual constraints.
Also available as part of 3di’s managed market data service, DCDM efficiently and cost-effectively manages daily tasks associated with the administration analysis and control of market data within a firm’s application infrastructure.
Martina Satherlund, Head of Client Services, 3di, comments: “DCDM provides a single reporting source of central intelligence for information on a financial institution’s market data and application dependencies. With new commercial policies coming out from market data providers, brokers and exchanges all the time, it is crucial that financial institutions stay on top of how data is being used and distributed within the organisation. 3di’s DCDM provides views on each application’s subscriptions, contributions, upstream/downstream connections, internal/external pricing and reference dependencies – all assisting with external data audits.”
Satherlund continues: “Accurate and efficient market data management is relatively scarce – which is absurd when you consider the budget financial institutions allocate to this area. The collection, centralised storage and maintenance of a firm’s market data dependencies is key in winning the battle against the exchanges’ and information providers’ changing attitude to data’s value and usage. 3di’s DCDM provides users with a more detailed, intelligent picture of their risk and financial exposure in this area and allows them to lower the total cost of market data across the institution.”
3di’s DCDM integrates seamlessly with the well-established 3di Profiler database of global market data solutions as well as the industry leading inventory tools such as MDM and FITS. Clients are enabled to retrieve exchange policies related to their applications’ processing requirements and upload, store and retrieve contracts, schematics, instrument lists and user lists.