TRG Screen, the market data and subscription cost management solutions provider, has launched Activity Monitor, a new capability designed to help financial institutions identify underutilised market data terminals, optimise licensing arrangements and reduce expenditure through more granular analysis of how employees use terminal services.
Announced on 29 October, the solution captures function-level activity, allowing market data teams to assess which services are accessed, how frequently they are used and for how long. The technology goes beyond conventional usage monitoring, which typically identifies whether a terminal is active, to provide more detailed intelligence on consumption patterns across individuals, teams and departments.Configurable profiling rules enable firms to evaluate usage against different job functions, helping identify opportunities to reallocate, share, downgrade or remove Bloomberg licences. The system also tracks realised savings, allowing market data managers to demonstrate the financial impact of optimisation initiatives.
Activity Monitor integrates with TRG Screen’s Optimize Spend platform, connecting usage information with user records, contracts and associated costs. This gives institutions a consolidated view of terminal expenditure alongside the operational evidence needed to support licensing decisions. Data can also be exported to other enterprise systems.
Leigh Walters, CEO of TRG Screen, says: “Financial institutions are under pressure to get more value from their market data spend, reducing costs where they can and freeing up budget to invest elsewhere. But you can’t save what you can’t see. Helping customers make better-informed decisions about their market data expenses is central to our strategy, and Activity Monitor strengthens our ability to do that.”
The launch extends TRG Screen’s broader efforts to bring greater automation and intelligence to market data management. Earlier this year, the company introduced Contracts AI and Invoice AI within Optimize Spend, targeting the automated interpretation of licensing agreements and processing of vendor invoices respectively.
Earlier this year, in conversation with Market & Alt Data Insight, Nadine Scott, Chief Customer Strategy Officer at TRG Screen highlighted the difficulties of reconciling contractual licensing obligations with increasingly complex patterns of data consumption across enterprise workflows.
The commercial pressures are also intensifying. A recent Substantive Research study, conducted with BCG Expand and TRG Screen, found that changes to AI licensing arrangements could increase some institutional market data agreements by as much as 50% in 2027.
Activity Monitor addresses a distinct component of this wider cost management challenge, providing the usage evidence needed to assess existing terminal subscriptions as institutions review their market data budgets.
The solution uses a lightweight desktop agent to collect activity information without accessing sensitive data or disrupting applications. Automated deployment and updates are designed to minimise the operational burden on IT departments and end users.
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