Saving Millions on Data
Traders Magazine, June 2002
Trading desks at the big firms depend on high quality market data, timely delivery and the skills of in-house teams to maintain an orderly flow. In today's highly-competitive market, these are under intense pressure. Consider a few major issues: * Data quality: Reliable data is the rocket fuel' of zero tolerance trading applications. As arbitrage competition intensifies, the benefit of incrementally better data is evident. A study sponsored by Reuters, TowerGroup and Capco noted that, on average, 30 percent of trades fail to settle due to erroneous reference data.
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