Managing the financial processes supporting market data management is not considered to be financial institutions’ core business. Nevertheless the task may not be underestimated, since market data costs are responsible for a considerable portion of the overall budgets.

Screen therefore offers a managed service, Screen Assist© managed by our team of market data specialists who guarantee the highest rates of efficiency in managing your market data tasks.

Screen Assist© is a market data administration service, which includes the following service deliverables:

• Invoice Processing & Reconciliation 
• Track Invoice Variances
• Contract Management
• Data & Product Permissioning
• Honesty Statement Preparation
• On-going Cost Control and Reduction
• Maintenance of Market Data Records
• Business Reporting

I.      Invoice Processing & Reconciliation

Screen Consultants will check the vendor invoices for accuracy and completeness, reconcile them with the underlying contracts and allocate the costs to the users.

II.      Track Invoice Variances

In the event that invoice reconciliation results in variances Screen Consultants will report these with the client. All variances will be recorded in our market data management system INFOmatch (see also www.infomatchonline.com) and reported.

Action to the suppliers has to be agreed with the customer.

III.       Contract Management

All contracts will be stored and maintained in INFOmatch including all relevant costs, expiry details, notice periods and important textual contract terms. This will prevent you from missing contract cancellations and it will put you in a position to re-negotiate your agreements timely before the automatic renewal dates.

IV.      Data & Product Permissioning

The data & product permissioning overviews can be used to update INFOmatch or market data permissioning tools that are used internally (e.g. Reuters, Bloomberg, etc.). This is time efficient and will prevent discrepancies between services paid to and authorised by the vendor or exchange.

V.      Honesty Statement Preparation

Each quarter we will produce the honesty statements for the market data vendors, exchanges and third party suppliers. The electronically produced honesty statement will give the vendor confidence that the client is also paying for the services that are used.

VI.        On-going Cost Control and Reduction

As a result of this service you will experience an increasing cost awareness with the users and the management and therefore the overall growth of costs will be kept to the minimum. Furthermore, the users will become more critical on future additional service requests and they will develop an understanding for the price quality of the different services.

VII.      Maintenance of Market Data Records

A properly populated, maintained market data database will simplify the overall maintenance of your market data records, and it will allow you to make the necessary reference checking.

VIII.      Business Reporting

We will provide you with a wide range of reports that include:

• By cost centre, user, vendor 
• Cost avoidance
• Variance reporting
• Exception reporting Quarterly / Bi-annual reporting
• Trend analysis of business usage
• Improved MIS Contract management
• Ensure the required MD information is negotiated at an appropriate cost and terms
• Regular review of all vendor contracts
• Re-negotiated where necessary
• Pro-active management of contract renewals Budgeting
• For the following year across all MD Services
• Clarity around what costs are included in MD
• Budget forecasting Cost reports