Deutsche Börse partners with DataBP to digitize market data licensing
Data licensing and subscription management platform company DataBP has announced that it has partnered with exchange operator Deutsche Börse Group (FRA:DB1) to implement a digital data licensing and management platform to streamline business operations and optimize the customer experience for its Market Data + Services (MD+S) business.
Deutsche Börse Group supports a global client base with market data and services through a broad and diverse network of distribution channels. The diversity and scale of Deutsche Börse’s data business is amongst the largest of global exchanges, requiring significant resources to support and maintain. DataBP’s platform provides Deutsche Börse with the opportunity to take systems and processes to the next level of digitalization and enhance the customer experience.
In order to make the subscription process for Deutsche Börse’s real-time market data Information Products more navigable and to make it easier for customers to understand and acquire usage licenses, Deutsche Börse has released new features within its online contract management portal called ‘MD+S interactive’ which are based on DataBP’s platform. MD+S interactive allows clients to navigate and manage their data licensing and subscriptions and enables Deutsche Börse to better manage these relationships at scale.
Dr. Sven Wohlfarth, Director of Data Services Operations at DBAG said:
“The upgrade of our online contract management tool is part of our high-level strategy to ensure the availability of our data for all use cases at any time and in the most efficient way possible. Our work with DataBP has been a successful partnership. DataBP’s deep knowledge of automating the data licensing process helps us to enter a stage where clients can immediately subscribe to our Information Products using MD+S interactive. The implementation process has been seamless and is a testament to DataBP team’s flexibility and responsiveness.”
Mark Schaedel, CEO of DataBP, commented:
“We are thrilled to add Deutsche Börse to our community of global exchanges that are modernizing the market data business model. Our platform is designed to support the rapid onboarding of clients and launch of new products by streamlining conventional business processes. Partnering with Deutsche Börse brings the opportunity for significant impact in terms of introducing innovation and affecting change in the industry. The role and use of data in today’s capital markets has outpaced the evolution of the market data business model. We are focused on building a community of the largest providers of data to share in the cost of innovation and bring efficiencies to the industry.”
Deutsche Börse Market Data + Services provides financial market participants around the world with proprietary market data from Deutsche Börse Group’s Xetra and Eurex trading platforms, as well as data from our cooperation partners. Its clients include analysts, algo traders, banks, hedge funds, asset managers, mid- and back-office professionals and vendors who rely on high-quality, reliable information to make investment and trading decisions, manage risk, safeguard assets and meet increasing regulatory requirements.
DataBP is the leading provider of software and managed services for managing market data and index commercialization. DataBP is “Reinventing Market Data” by streamlining the business processes and empowering data providers to gain efficiency and realize the full potential of their data assets. Its clients include many of the world’s largest exchange groups and data providers including ASX, CME Group, TMX Group, SGX, and others.