DataBP expands data services business with MarketAxess
By Edlyn Cardoza
DataBP, the data licensing and commercial management platform, recently announced that MarketAxess, the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, is leveraging DataBP’s services to support and automate data licensing and post-sales processes.
As data consumption methods in financial services have rapidly evolved, the opportunity to provide a broader range of services to customers and manage an increasingly diverse community of data subscribers and redistributors requires an increasingly sophisticated level of scale and automation.
DataBP’s data licensing platform, which has been adopted by most tier 1 securities exchanges and a growing number of index providers and data vendors, simplifies and automates the manual business processes supporting ongoing administrative workflows.
MarketAxess is leveraging DataBP’s powerful pricing engine and seamless integration with Salesforce to better meet the business intelligence needs of its institutional fixed income trading clients while at the same time increasing efficiency and reducing risk.
Ryan Gwin, Head of Data Sales, MarketAxess, added: “DataBP’s platform provides MarketAxess the opportunity to optimize the customer experience as we develop our data services business and offer new products. 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.”
Mark Schaedel, CEO of DataBP, commented: “We are thrilled to partner with MarketAxess who, in many ways, are doing to credit markets what we are doing in the market data space – introducing innovation and technology to support a necessary transition from analog to digital. 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. 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.”
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