MarketAxess to automate data licensing and post-sales processes through DataBP

The move will help increase efficiency and reduce risk, meeting institutional fixed income trading clients’ business intelligence demands.

MarketAxess has become a client of data licensing and commercial management platform DataBP and will leverage its services to support and automate data licensing and post-sales processes.

As a result of the rapidly evolving methods of data consumption in financial services, an increasingly sophisticated level of scale and automation is required to provide customers with a broader range of services and to manage a diverse group of data subscribers and redistributors.

To better meet institutional fixed income trading clients’ business intelligence demands, MarketAxess will leverage DataBP’s pricing engine and integration with Salesforce, while also increasing efficiency and reducing risk.

The manual business processes which support ongoing administrative workflows will be simplified and automated by DataBP’s data licensing platform.

“DataBP’s platform provides MarketAxess the opportunity to optimise the customer experience as we develop our data services business and offer new products,” said Ryan Gwin, head of data sales at MarketAxess.

“Having the tools to automate market data sales administration means that we can focus on the higher value activities involved with servicing clients and developing cutting edge products.”

The move follows the addition of an enhanced real-time pricing service to the MarketAxess’ existing intra-day fixed income tape for the UK and EU’s most actively traded debt instruments, announced earlier this month. 

“As credit markets become more automated and data-driven, streamlining the workflows supporting the provision and licensing of data are a critical enabler for innovation,” said Mark Schaedel, chief executive of DataBP.

“DataBP is focused completely on enabling providers of data to rapidly introduce new products, onboard customers and manage data licensing and subscription relations at scale.”