Xmon Insights – Optimization of Pricing Data Acquisitions

In our first article in the series of Xmon Insights use cases, we take a look at how Xmon’s security level feature helps you optimise pricing data acquisitions. To refresh your memory on Xmon Insights service, follow this link to one of our previous articles on this topic.

As is the case for some data vendors, when pricing data is requested at different times of the day it triggers different snapshots. Each different snapshot has a significant cost impact. As a consequence, if price is required only for the end of day P&L or Books and records generation, then a single snapshot should be downloaded per day for each security, as multiple price updates throughout the day are not necessary.

In order to review the pricing snapshot usage and optimise the cost according to the vendor pricing rate card, the organisation needs a report providing security level details. Xmon is able to address this need and provides a report available to be generated and downloaded on demand. This report will display security ID details with the list of all the pricing snapshots used within the organisation, and users can review and confirm with business if some snapshots can be turned off for those securities. Once security ID’s with redundant snapshots have been identified, then Xmon is able to provide the list of requests that contain those securities to be amended and optimised. 

With Xmon’s Insights guidance, many of our clients, such as asset managers and hedge funds, achieved 10-15% savings of their total reference data consumption. If all of the above sounds of interest to you, then get in touch, we would love to hear from you!