UBS AG Adopts Real-Time Data Reporting
London Stock Exchange Group [or “Group”] today announced that leading international bank UBS AG, has become the first client to begin directly reporting its global real-time terminal inventory to the Group.
Today’s announcement follows LSEG successfully piloting a ‘direct reporting’ initiative with a number of proactive clients, allowing them to report their usage of London Stock Exchange and Borsa Italiana data directly to the Group, in addition to continuing to report through market data vendors.
UBS Endorses User-Friendly Data Model
Commenting on the initiative, Robert Barnes, Managing Director, Equities at UBS, said:
“London Stock Exchange now offers a per-user data model that is administratively easy and commercially efficient. The enterprise framework, scalable and flexible, is consistent with best practice examples worthy of promotion world-wide.”
London Stock Exchange Group Perspective
Jarod Hillman, Head of Real-Time Data at London Stock Exchange Group, said:
“The success of this pilot scheme means that we now expect a number of clients to follow UBS AG’s lead in entering into direct data reporting agreements for their London Stock Exchange and Borsa Italiana terminal usage. We have clear, rigorous criteria that customers must meet first, demonstrating adequate internal controls to entitle, monitor and report their usage, then we are ready to onboard them. We will also look to work with trade associations that represent other exchanges, our vendor partners and end users to help establish industry standards around this practice.”
Launch of Enhanced Market Data Agreement
Following the successful pilot, earlier this month the Group announced the launch of a new market data agreement, giving customers the benefits of:
- reporting directly to LSEG all their global internal display usage of London Stock Exchange and Borsa Italiana data, regardless of how it is sourced;
- adopting a user-based ‘unit of count’, allowing firms to only pay one set of exchange fees for an internal user who receives the same data from two, or more, sources;
- achieving greater flexibility when implementing real-time market data solutions, by removing the cost of paying new additional exchange fees for each new data source.
