Today’s broker-dealers face an uncertain future with a highly competitive marketplace, lower trading volumes, and the prospect of dramatically more stringent regulation. In this challenging environment two themes remain constant: 1.) the need to offer superior customer service; and 2.) the need to control costs. The adoption of an on-demand market data cloud instantly benefits broker-dealers because it allows them to focus on what is important by addressing the top broker-dealer technology challenges.This post is the first in a multi-part series that describes the top 5 broker-dealer technology challenges all dispatched by the market data cloud. In subsequent posts we will examine each of these broker-dealer technology challenges in greater detail.

Broker-Dealer Technology Challenge #1

Responding instantly to new regulatory reporting requirements

New regulations have saddled broker-dealers with costly reporting and compliance requirements. Frequently these onerous requirements are made more challenging by inflexible reporting systems and an inability to quickly access accurate market data. An on-demand market data cloud allows broker-dealers to quickly respond to these new requirements and enrich their reporting with multi-asset class market data.

Broker-Dealer Technology Challenge #2

Delivering enhanced transparency to clients with real-time reporting

In these volatile times your clients demand a deep understanding of risk and exposure.  A market data cloud allows broker-dealers to offer a level of transparency that only real-time multi-asset class reporting can provide.  Quickly add this capability and give your client base the insight they demand.

Broker-Dealer Technology Challenge #3

Differentiating your services by providing mobile access

Differentiate your services by offering your clients mobile apps. Allow them the flexibility to view and act on critical information wherever they may be. Market data accessed via cloud APIs is the ideal solution to quickly power all of your iOS, Android and HTML 5 mobile apps, without the inconvenience of traditional market data feeds.

Broker-Dealer Technology Challenge #4

Focusing on customer service, not data management

In today’s competitive environment broker-dealers need to be laser-focused on servicing their clients. Distractions such as compliance, regulatory reporting, and rapidly changing technology requirements have all served to distract broker-dealers from their core mission of providing superior service. With an on-demand market data cloud all of the headaches involved with building and maintaining a market data infrastructure are instantly removed.

Broker-Dealer Technology Challenge #5

Reducing the cost of market data

Everything is now on the table when it comes to controlling cost. A large and increasing proportion of a broker-dealer’s annual expenditure is spent on market data. This cost is comprised of both the actual data and the infrastructure cost. Broker-dealers can significantly reduce cost by moving to an on-demand consumption model, and by replacing their in-house infrastructure with a market data cloud.

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