City Index chooses Ballintrae for market data reporting management

Source: Ballintrae

Ballintrae is delighted to announce that in May 2010 it signed a contract with City Index, a leading provider of retail trading products globally, to provide a managed service for City Index's market data reporting (for vendors and Exchanges, and internal and external usage).

Ballintrae has a strong market data practice and an in-house database developed specifically to help manage reporting needs.

At a time when what you can and cannot do with pricing data is becoming ever more complex and hard to report accurately, Ballintrae was brought in to perform a pre-audit of City Index's exchange data usage. Following the successful completion of this work and the confidence generated as a result, City Index made the decision to appoint Ballintrae to manage its market data reporting.

Ballintrae has an in-house database and a team of experts and as a result City Index will be supported at a cost effective rate. They will be kept up-to-date with Exchange rules and regulatory changes as they happen, and indemnified against any penalties imposed for incorrect reporting.

Ballintrae has been working with the exchanges and we believe that our managed service will provide both clients and the exchanges with confidence, because the company carries out its own pre-audit to ensure that existing systems are fit for purpose and usage is being reported accurately and any issues identified are resolved.

The service includes reporting and support during an audit, however, all procedures and processes are also documented and mapped for the organisation. The contract also includes a quarterly review where Ballintrae will seek to identify cost savings as part of this process.

Ian Pearson, Ballintrae's Sales and Marketing Director said, "We are delighted that City Index has entrusted us to manage its reporting. We believe there will be other organisations which will also be keen to use our services."

Toby Young, CTO of City Index, said: "The pricing and distribution of our real-time products is fundamental to the value proposition to our customers. The management of exchange rules and regulations in the current market has proven to be increasingly complex. Ballintrae has proven to offer excellent expertise and professionalism in this field and this has allowed us to enhance the focus on our core offering."

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