Market Data and Brokerage / Market Data Optimization / Market Data Benchmark

Market Data Benchmark

BCG Expand helps institutions identify untapped opportunities and reduce inefficiencies across their Market Data cost base, providing benchmark-driven insights tailored to each organization’s institutional footprint.

Explore the solutions

The Challenge

  • ✔ Fragmented market data environments create cost inefficiencies and usage blind spots
  • ✔Limited visibility into peer pricing and vendor usage patterns
  • ✔ Pressure from Procurement and the Business to reduce costs without sacrificing functionality (do more with less!)
  • ✔ Complex license structures and compliance risk from misuse
  • ✔ High user dissatisfaction with certain high-cost tools remains unaddressed

How we can help

Benchmark model

Our proprietary benchmark model computes the expected Market Data cost for a firm of a given size, using relevant business metrics in addition to industry peer averages.

Benchmark data

Our benchmark data is collected via inventory extracts, standardized by BCG Expand analysts using the firm’s industry-leading taxonomy, and verified by the client.

Benchmark delivery

Deliver robust, peer-aligned benchmarks across spend and usage.

Client success stories

$12M Identified and realized Research and Analytics savings
£10M Reduction secured on an enterprise deal with a key Market Data vendor
£1M Saved on Bloomberg Data License spend
£1M Saved through full removal of a credit risk product

Case Studies

Global Investment Bank

BCG Expand identified $13.5M in potential savings in Research and Analytics and highlighted key vendors and products for removal. The client used this information to realize $12M in savings, including $5M through immediate cancellation.

Large Global Asset Manager

BCG Expand benchmarking was used to challenge vendor pricing, resulting in a 12% reduction in total Market Data spend and improved contract terms.

The Challenge

  • ✔ Limited visibility into peer pricing and vendor usage patterns
  • ✔ Pressure from Procurement and the Business to reduce costs without sacrificing functionality (do more with less!)
  • ✔ Complex license structures and compliance risk from misuse
  • ✔ High user dissatisfaction with certain high-cost tools remains unaddressed

How we can help

Benchmark model

Our proprietary benchmark model computes the expected Market Data cost for a firm of a given size, using relevant business metrics in addition to industry peer averages.

Benchmark data

We leverage years of experience to ensure unparalleled accuracy while maintaining a low burden on participants.

Benchmark delivery

We ensure minimal work for participants while allowing for the strongest like-for-like comparisons.

Client success stories

15 Years Supported vendor negotiation cycles with pricing and usage benchmarks
100% Locked in below-benchmark spend with leading Market Data vendor
$10M Reduction secured on an enterprise deal with a key Market Data vendor

Case Studies

Global Investment Bank

BCG Expand identified $13.5M in potential savings in Research and Analytics and highlighted key vendors and products for removal. The client used this information to realize $12M in savings, including $5M through immediate cancellation.

Large Global Asset Manager

BCG Expand benchmarking was used to challenge vendor pricing, resulting in a 12% reduction in total Market Data spend and improved contract terms.

The Challenge

  • ✔ Fragmented market data environments create cost inefficiencies and usage blind spots
  • ✔ Limited visibility into peer pricing and vendor usage patterns
  • ✔ Pressure from Procurement and the Business to reduce costs without sacrificing functionality (do more with less!)
  • ✔ Complex license structures and compliance risk from misuse
  • ✔ High user dissatisfaction with certain high-cost tools remains unaddressed

Insights

Market Data Pricing 2024 in Review

Substantive Research and BCG Expand teamed up to shine a light on what’s really going on in market data spend and pricing.

"It’s been a great engagement and partnership from the BCG Expand team with a lot of great materials and discussions."

Global Head of Market Data Tier 1 Bank

“We didn’t realize how much we were overspending until we saw what our peers were doing. The data gave us a clear mandate to act.”

Chief Operating Officer Mid-sized Asset Manager

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