US-based Investors Exchange (IEX) has optimised the management of its commercial market data operations by adopting DataBP’s market administration platform.
DataBP’s technology automates and simplifies compliance, licensing, and reporting processes.
IEX said this adoption enables it to reduce friction in market data licensing and foster more seamless interactions with its partners and subscribers.
By leveraging DataBP’s platform, IEX can further enhance the efficiency and transparency of its market data workflows, allowing IEX to devote more resources to developing innovative solutions for its community.
As a result, market participants benefit from a “streamlined” experience when accessing IEX’s data services.
President of IEX Group, Bryan Harkins, highlighted the partnership’s value: “our collaboration with DataBP allows us to streamline key operational processes, so we can focus on delivering innovative solutions and value to the trading community.”
Efficiency and transparency are not new concepts to IEX, as demonstrated when they publicly disclosed their market data costs in January 2019. By sharing this information, IEX suggested that some exchanges may be significantly marking up their service prices, as previously reported by The TRADE.
IEX’s partnership with DataBP builds on their commitment to cost transparency. By adopting DataBP’s advanced platform, IEX can automate market data services.
IEX and DataBP’s agreement is akin to DataBP’s partnerships with MarketAxess and JSE in 2022 and 2024, respectively.