Spotting Data Over-Consumption Early

In this article we show how Xmon, through the use of Rules and a new Standard Report, can help flag users or systems that have exceeded their usual or allowed data consumption and, therefore, mitigate potential spikes in multi-hit cost. As a reminder, multi-hit cost is a feature of certain reference data pricing models and is incurred when an organisation requests the same billable category multiple times on the same day for the same securities. Click here to recall how Xmon can be used to understand and mitigate multi-hit cost.

Standard Report 32: Average Daily Usage by System

Xmon has benefited from the recent addition of a Standard Report which computes the average daily usage per system over a selected period of time. By default, the time period is the latest quarter.

New Standard Report 32 in Xmon computes the average daily usage by system


This report is available under REPORTS > Standard Reports > Standard Ratecard.

Example output of the Standard Report 32 in Xmon


The example above shows that, during the given period of time, System 1 has requested on average 68 securities per day. The maximum number of securities it requested in a single day was 151. System 2 averaged a daily multi-hit cost of $168.54 over that same timeframe and its highest multi-hit cost in one day was $575.60.

Setting up Rules to Monitor Daily Consumption

These average and maximum figures can be used to draw limits on the daily consumption of the different data users and systems. And these limits can, in turn, be used to define rules that would issue warnings when exceeded. As cost could vary between the first day of the month and the subsequent days of the month, we suggest defining these limits on daily volume. For instance, based on the maximum daily number of securities requested by System 2 over the last quarter (11,756 securities), we can setup a limit of 12,000 securities on the daily volume of this data consumer. If this limit is breached on a certain day, a warning e-mail is sent to the “Market Data 1” mail group.

Example rule setup in Xmon to raise an alert when System 2 requests data for more than 12,000 securities on a day


When rules are created on the daily consumption, they can be monitored in real-time from the dashboard. We can see below an example showing the Dashboard when System 2 has already requested 10,273 (amounting to 86% of its “allowed” daily volume) on the day.

The Dashboard in Xmon showing the actual consumption of System2 compared to its daily limit


If this article is interesting to you and you would like to find more about this topic, please get in touch. We would love to help you!