Citi Implements Market Data Compliance & Cost Savings Strategy Using NYSE Technologies’ New Managed Market Data Administrat...
25 Gennaio 2010 - 2:21PM
Business Wire
Citigroup Inc. and NYSE Technologies, a division of NYSE
Euronext (NYX) and a leader in market data products and services,
announced today an agreement to embark on a wide-ranging market
data compliance and cost savings strategy. The strategy includes
the use of NYSE Technologies’ enhanced product suite, built on DART
technologies, in collaboration with Jordan & Jordan, a market
data management consulting and information technology services
firm, to create a managed service that will facilitate the
reduction of market data administration costs.
Citi, the first customer for NYSE Technologies’ new market data
administration service, will use DART (Data Administration and
Reporting Technologies) on a global basis to implement key aspects
of its market data administration workflow. The service will
include, among other things, direct reporting of entitlements to
exchanges, exchange compliance, and the elimination of multiple
user exchange fees across vendor platforms.
“Citi’s use of NYSE Technologies’ market data administration
service is an industry-leading approach that emphasizes Citi's
commitment to data compliance and expense control,” notes Don
Madura, Global Head of Real Time Market Data at Citi. “This service
allows us to enhance our data compliance, reduce our administration
costs and better control our exchange fees. It’s part of our
strategy of faithful reporting and paying only for what we
use.”
“To have a global financial leader such as Citi select NYSE
Technologies’ managed service is a tremendous validation of DART’s
value and utility in today’s data-intensive environment,” said Jose
Luis Coirolo, managing director of Global Market Data at NYSE
Technologies. “Our approach is to help customers reduce their
costs, and increase their efficiency, by managing market data in
smarter, more effective ways. DART offers a complete range of
global, exchange-agnostic tools and services that address most
aspects of a firm’s administration of market data.”
About Citi
Citi, the leading global financial services company, has
approximately 200 million customer accounts and does business in
more than 140 countries. Through Citicorp and Citi Holdings, Citi
provides consumers, corporations, governments and institutions with
a broad range of financial products and services, including
consumer banking and credit, corporate and investment banking,
securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com or
www.citi.com.
About NYSE Technologies
A division of NYSE Euronext (NYX), NYSE Technologies provides
comprehensive transaction, data and infrastructure services and
managed solutions for buy-side, sell-side and exchange communities
that require next-generation performance and expertise for mission
critical and value-added client services. This
division operates four units: the Global Connectivity unit,
offering one of the world's largest, most reliable financial
transaction networks connecting firms and exchanges worldwide; the
Trading Solutions unit, which creates and implements high
performance, end-to-end messaging software and real-time market
data distribution and integration products; the Exchange Solutions
unit, which provides multi-asset exchange platform services,
managed services and expert consultancy; and the Global Market Data
unit, which offers a broad array of global market information
products covering multiple asset classes. With offices across the
U.S. , Europe, and Asia , NYSE Technologies' advanced integrated
solutions for a wide range of services has earned the ability to
power the trading operations of global financial institutions and
exchanges. For additional information visit:
http://www.nyse.com/technologies
About Jordan & Jordan
Jordan & Jordan (J&J) is a market data, management
consulting, and information technology services firm specializing
in the financial services and securities industry. J&J brings
seasoned industry professionals with practical experience in the
financial services industry to work with our clients to meet the
technology needs of their end users. J&J's market data practice
has assisted firms by managing multiple global market data risk
assessment and compliance initiatives, coordinating multiple
expense management initiatives, providing outsourcing services and
interim staffing, and performing market data audits. Through the
management consulting and technology practices, J&J has also
assisted industry firms in providing solutions by evaluating
business alternatives, developing practical strategies, selecting
or developing suitable technology solutions, assisting in order
routing execution technology, providing trade analytics and
creating action plans and managing project implementation.
Additionally, J&J manages the Financial Information Forum, FIX
Protocol Limited and RIXML. Jordan & Jordan has offices in New
York, Chicago and London. For additional information please visit:
http://www.jandj.com.
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