The Investors’ Exchange (IEX) has adopted DataBP’s market data management platform to streamline its commercial data operations, aiming to enhance efficiency across licensing, reporting, and compliance workflows.
The move is part of a broader strategy by IEX to simplify its administrative processes as it expands. According to Mark Schaedel, CEO of DataBP, the project was driven by IEX’s evolution and its unwavering focus on its clients. “IEX is a business that cares more about the customer experience than anything else,” he tells TradingTech Insight. “Throughout the process, which was the fastest implementation we’ve ever done, their only pushback or challenge was, ‘Is this the best thing we can do for the customer?’”
Schaedel highlights a critical shift where data itself has become the central offering for modern exchanges.
“I believe an exchange’s core business is data and price discovery. It’s not an ancillary business or the ‘exhaust’ of transactions,” he explains. “In today’s markets, which are driven by automation, competition is for liquidity. You don’t attract that liquidity by taking an order router out to dinner; you entice them to send you flow because they see a signal or an opportunity. The way you prove your value is by exposing it in your market data.”
As a provider of market data administration solutions, DataBP has worked with a broad spectrum of exchange groups globally. Its platform is designed to address increasing operational demands from market data consumers and vendors, supporting regulatory compliance and the efficient handling of commercial relationships.
The partnership underscores the growing importance of modernised infrastructure in managing the complexities of exchange data services, particularly as the volume and diversity of data usage continue to rise.
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