19 February 2018
visit www.ebaday.com

Reuters releases data control system to curb market data infringements

17 July 2006  |  9647 views  |  0 stock quote

Reuters is to release its Data Access Control System (Dacs) as an open extension to firms for controlling the use of chargeable market data across the enterprise.

Open Dacs prevents costly data contract infringements by ensuring individuals only receive the data they are already permitted to use. It also gives enterprises control over the distribution of data with full reporting and audit facilities to help monitor it.

The move comes as financial institutions increasingly look to re-use market data supplied under license by stock exchanges and other sources both off-floor and within algorithmic trading engines supplied to buy-side clients.

Michael Parlapiano, Reuters global head of information management solutions, says: "Major financial enterprises can easily infringe data rights inadvertently if they do not have close control over how data is consumed within their organization. Global exchanges are increasingly keen to ensure that clients meet their data charges. Open Dacs offers complete control over all the data coming into an enterprise for the first time."

Colleen Dennis, head of market data audit at the London Stock Exchange, welcomes the initiative: "Data and contract management is increasingly demanding for our clients and we welcome Reuters Open Dacs as a means of assisting firms."

The LSE reported a £6.4 million exceptional settlement with Citigroup at the end of last year following an investigation into under-reported data usage at the global investment bank. The stock exchange auditing team found Citi had inadvertently infringed its licensing agreement by re-using data in algo trading applications and supplying delayed data to clients and third party Web sites without prior agreement.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Fortis signs for Screen Consultants' market data manager

Fortis signs for Screen Consultants' market data manager

12 June 2006  |  4958 views  |  0 comments
Wombat releases B-Pipe feedhandler; Reuters waits in the wings

Wombat releases B-Pipe feedhandler; Reuters waits in the wings

13 March 2006  |  11802 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
Visit www.vasco.comvisit www.ebaday.comvisit www.swift.com/your-needs/instant-payments

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11368 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
8920 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8806 views 10 comments | 22 tweets | 26 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8758 views comments | 15 tweets | 43 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
8164 views 4 | 9 tweets | 6 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job