Two leaders in the market data space - Nyse Technologies and Jordan & Jordan - today announced they are working together to help customers effectively manage and reduce their spending on market data.
Nyse Technologies, a division of Nyse Euronext (NYX) and a leader in market data products and services, and Jordan & Jordan, a preeminent market data, management consulting and information technology company, have reached an agreement that will expand NYSE Technologies' DART system (Data Administration and Reporting Technologies) by integrating it with Jordan & Jordan 's Vendor Reporting System (VRS). As a result, customers will have a single set of tools and services that can help them entitle data, identify and eliminate under-utilized vendor devices and exchange services, net multiple devices used by a single person, and report directly to most exchanges globally.
"Together with Jordan & Jordan we are addressing our customers' mission-critical need for cost-effective solutions to manage data dissemination, administration and reporting, and partner with our customers to help them reduce costs in these difficult times," said Stanley Young, CEO of NYSE Technologies and Co-Global CIO of NYSE Euronext. "The volumes of market data are growing exponentially, as is the complexity of dealing with myriad data streams and usages. This new partnership underscores our commitment to simplify and economize this work for our customers by offering global, exchange-agnostic solutions."
"Jordan & Jordan is always looking for new ways to address client demands; VRS was created to automate market data device netting and reporting with the end goal of reducing data costs and the time spent producing exchange and vendor reports," said Tom Jordan, CEO of Jordan & Jordan. By integrating VRS with the full capabilities of NYSE Technologies' DART products, and by establishing an ongoing partnership with NYSE Technologies, our clients will have an increased level of risk assurance and long-term cost savings."