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Delivering $1.8M+ Savings with Enhanced Compliance & Control

A leading European financial institution with diversified operations across retail, corporate, insurance, and wealth management faced escalating complexity and costs within its market data environment. To modernise data governance and rein in spiralling vendor expenditure, the client engaged CJC to spearhead a comprehensive transformation.

Leveraging deep commercial insight and technical expertise, CJC conducted a comprehensive assessment, identified critical compliance risks, implemented robust control frameworks, and designed a scalable commercial governance model. The engagement yielded immediate cost savings exceeding $1.8 million annually, improved regulatory audit readiness, and established an operational model conducive to ongoing efficiency improvements.

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Client Challenges

Despite its multi-entity financial institution sophistication, the client’s market data ecosystem suffered from structural inefficiencies that impeded transparency, compliance, and cost control:

Uncontrolled licensing and subscription costs with minimal financial oversight.
Absent standardised entitlement model across applications and business units.
Over-dependence on premium vendor platforms for non-essential use cases.
Informal data distribution channels, raising audit and regulatory concerns.
Decentralised market data administration hindering strategic procurement.
Redundant vendor data feeds across business lines without a unified “golden source” architecture.
Fragmented Bloomberg Data License (BDL) environments lacking central coordination and entitlement monitoring.

These factors inflated expenses and exposed the institution to regulatory and contractual risks, particularly related to exchange data usage and non-display licensing.

Approach

CJC deployed a cross-functional team composed of commercial analysts, market data licensing specialists, technical consultants, and governance experts to conduct a comprehensive, full-scope diagnostic review. This collaborative approach ensured all aspects of the institution’s market data environment were examined comprehensively.

The methodology involved extensive stakeholder engagement across front office, infrastructure, procurement, and compliance functions to gather diverse insights. The team performed forensic mapping of entitlement workflows, system dependencies, and license utilisation to understand operational complexities in detail. An in-depth vendor usage analysis was carried out, including a thorough review of Bloomberg Data License (BDL) usage files.

Additionally, the team conducted exchange risk profiling with a focus on non-display, delayed, and redistribution exposures to identify compliance vulnerabilities. To provide context and benchmark performance, the review included comparisons against two leading financial institutions, assessing relative spend and operational efficiency. The outcome was a detailed report that highlighted over 20 actionable risks and opportunities for improvement.

Outcomes

	Impact
Cost Reduction	$1.8M+ in recurring annual savings through terminal rationalisation and feed consolidation.
Audit Readiness	Centralised entitlement logging and comprehensive role-based access controls.
Licensing Compliance	Validated exchange terms and established ongoing monitoring protocols.
Governance Framework	Policy-aligned processes for procurement, declarations, and contract renewals.
Inventory Centralisation	Unified visibility of contracts, services, and users across departments.

“CJC’s strength is its ability to bridge commercial governance with real-world infrastructure. They delivered clarity, control, and cost reductions where we had none.”

- Client’s Global Procurement Lead.

Industry

Banking & Insurance

Platforms

Bloomberg Data License; EMRS; BPIPE.
Bloomberg Terminal.
Refinitiv Eikon; RTDS; DACS.
ICE Trading Platform; Link Post Trade.
ICE Connect Desktop.
FactSet Workstation.
CME Direct; Globex; Clearport.

Client Requirements

Audit Readiness & Licensing Compliance.
Terminal Rationalisation.
Market Data Spend Optimisation.
Enterprise Data Management (EDM).
Data Governance and Procurement Model.

CJC Services

Strategic Commercial Management.
Data Inventory Management.
Data Compliance & Governance.
Market Data Administration.
Workflow Optimisation.

CJC Partnership Benefits

Deep Market Data Expertise.
Vendor-Agnostic System Knowledge.
Finance Operations Understanding.
Regulatory Compliance Experience.
Regular & Transparent Progress Reporting.

Client Benefits

$1.8M in Immediate Cost Savings.
Audit Readiness via Centralised Control.
Licensing Compliance and Monitoring Protocols.
Policy-aligned Data Governance Framework.
Inventory Unification and Centralisation.

Why Choose CJC?

CJC distinguishes itself through its vendor-neutral approach, offering advice without technology or supplier bias. Our team’s hands-on delivery ensures that recommendations are fully executed and operationalised. CJC’s commercially driven methodologies are closely aligned with real business objectives, delivering measurable outcomes. The firm provides comprehensive, end-to-end support services – from technical entitlement mapping to procurement governance – underpinned by deep, tool-agnostic expertise across platforms like MDM, TEM, RPM, TRG Screen, and others.

"Uniting commercial governance, strengthening compliance, and providing CJC’s operational expertise has given our client the clarity and control to manage their Market Data strategically, whilst providing key cost savings and avoidance in the process.”

- Jack Woodford, Project Team Lead, Commercial Management at CJC Ltd.

About CJC:

CJC is the leading market data technology consultancy and service provider for global financial markets. CJC provides multi-award-winning consultancy, managed services, cloud solutions, alert monitoring and observability, and commercial management services for mission-critical market data systems. CJC is vendor-neutral and ISO 27001 certified, enabling CJC’s partners the freedom to focus on their core business.

Email: marketing@cjcit.com
Tel: +44(0) 203 328 7600

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