Screen INFOmatch is planning to release an upgraded version of its eponymous market data inventory system that supports cost and contract management in mid-December. The new version will focus on index licensing with the provision of tools for improved management and increased transparency.
Peter Fruitema, CEO of Screen Group, a financial services solutions company that includes INFOmatch, says: “Index licensing was not a topic two years ago, but now it is a constant buzz in the financial services industry as there are big issues for firms around licence management. There is a lack of control of search and filtering, and many firms don’t have a view of all the indexes they license and which firms are providing them.”
He adds: “There is also confusion over index families, perhaps which indices are included in a family and how they are licensed. Then there are issues of technical delivery, and permissioning and entitlements. As firms buy more and more index data, spending millions of dollars a year, the need is to improve management of the data, its costs and contractual conditions. It is also necessary to report to the business on the use and cost of index data.”
In response to the increasing complexity and cost of index licensing, INFOmatch has built on its ability to track and manage contracts, vendors, exchanges, data providers and their users to deliver an index licensing solution including functionality to manage index families, price internal and external use, and manage licence types covering both structured products and custom built indices.
The upgraded version of the INFOmatch index licensing module develops an initial version that was introduced last year. Rather than using traditional manual or spreadsheet methods to manage licenses, INFOmatch offers a database solution with a graphical user interface and tools to control licensing.
“The new version of the module is a step forward in transparency,” says Fruitema. “It allows users to see the constituents of index families and build up a view of licences and their costs, and who is using which indices. It also provides a view of terms and conditions, and includes a reporting function. The benefits include greater transparency of index licensing, cost and time savings, and better support for regulatory compliance.”