Loyalty Program Benchmark 2023 by SiaXperience
In a Survey conducted of Market Data Professionals , Sia Partners reveals three major concerns and priorities.
60% of survey participant were in a Leadership Role
90% of participants are concerned with Cost Management
75% could benefit from adopting Market Data Best Practices
In a Survey conducted of Market Data Professionals, Sia Partners reveals three major concerns and priorities:
Thank you to all respondents that participated in our Market Data Management Survey. The survey was designed to learn about the skills, general structure, and scope of responsibilities Firms employ in the area of Market Data Management. From the results, a general profile was built to capture the collective characteristics of the market, which we further broke down into their more representative groups - Buy-side, Sell-side, and Firms that manage both Buy- and Sell-side activities. Supplementing those profiles are notable observations when comparing questions.
Three major concerns and priorities could be extrapolated from the results:
The survey’s findings are consistent with our views on the need for a clear inventory of what market data services a firm uses, validation of their utility, and ability to enforce proper controls and cost management best practices.
The following paints how respondents described themselves:
Overall, market data management teams feel confident in their ability to effectively manage market data, yet no discernable industry standards could be concluded from the survey - the optimal structure varies greatly (e.g. Team size relative to Users or AuM) as did the actual skills/tools employed (e.g. Certification standards, information sources, and systems). Respondents are certainly aware of the practices and processes required of market data management teams, however it is distinctly clear that a variety of interpretations about how to achieve effective cost management exists. The best example being how most anticipate costs to increase significantly, yet they have been mandated by senior leadership to reduce costs by an equally aggressive amount. A properly resourced, skilled, or structured team would be better able to manage that conflict by either being able to meet with senior leaderships expectations, or by altering senior management expectations to more reasonable and achievable levels.