Market Data Vendors Struggle to Keep Up Amid Coronavirus Pandemic

Since the outbreak of COVID-19 has spread and made its impact known on global markets, a number of banks and investment firms have been required to fall back on Business Continuity Measures (BCP). As a result of this, the lack of preparation by many major financial services institutions has been made evident. 

This lack of preparation is most evident in the world of market data. Speaking to A-Team Insight, an anonymous asset manager has stated that ‘in terms of data management, a lot of the vendors are quite limited in terms of how you can access their data.’ They continued that ‘this could be a prompt to review market data licensing and data acquisition in terms of efficiency under these situations. We are working with the vendors to get around these issues right now, but really it’s a question of speed – can we access what we need when we need it?’ 

This may serve to interfere with the otherwise sound continuity plans that many firms have had in place for years. It seems that the majority of big banks have transitioned fairly smoothly into remote operation. However, if market data supply is interrupted, this could change. 

There is some worry that firms have not sufficiently prepared to access their market data feeds while instigating BCP. Many firms place an undue amount of focus on a site being destroyed without sufficient thought being given to the possibility of staff working entirely remotely, as is the case with Coronavirus. 

Not all market data vendors are equally guilty of this, however. Some vendors provide remote access to their market data feeds via desktop, including eflow’s market data, ICE (the Intercontinental Exchange).  

Despite this, even if market data is made available, banks risk having to pay an estimated 175%-275% more for their market data, including vendor licensing fees, the cost of technology required to host the additional environment and exchange fees.


Best execution, market abuse and regulatory reporting solutions for financial services, and workflow management for any type of business. All powered by our PATH platform.

FCA Market Watch 67: Market Manipulation in the Spotlight

The UK’s Financial Conduct Authority (FCA) has recently published the latest issue of Market Watch – its newsletter on market conduct and transaction reporting issues. This issue focuses on market manipulation and the controls that the regulator deploys to detect and...

eflow Wins Best Trade Surveillance at 2021 A-Team Awards

It was announced this week that eflow has won Best Trade Surveillance Solution for MAD/MAR at the 2021 European RegTech Insight Awards hosted by A-Team Group. Our trade surveillance platform TZ is our flagship product, and we couldn't be happier to see it gaining this...

eflow And Euronext Announce New ARM and APA Connectivity Partnership

London-based regulatory compliance firm eflow have today announced that they will be partnering with Euronext in the interest of extending the connectivity of their transaction reporting solution TZTR. As a result of this new partnership, Euronext will provide eflow...

Why Regulators Should Be Promoting RegTech Adoption

Why Regulators Should Be Promoting RegTech AdoptionDougie Moffat, Business Development ManagerlinkedintwitterAsk anyone on the street whether they know about FinTech and you’re likely to be met with a resounding yes. The same cannot, unfortunately, be said for...

Best Execution and Beyond: What’s Happening to RTS 27 & 28 Post-Brexit?

Best Execution and Beyond: What's Happening to RTS 27 & 28 Post-Brexit?Dougie Moffat, New Business ExecutivelinkedintwitterThe Brexit transition period has now ended, and the UK has severed its legal framework from the EU. For those expecting a marked change in...

Get In Touch

[contact-form-7 id="26302" title="AMP Form 2"]