The Challenge
A Tier 1 global investment bank sought to evaluate the cost savings and operational benefits of implementing a next-generation centralized market data solution. The bank's market data operations had grown organically across multiple geographies, resulting in fragmented vendor management, inconsistent procurement processes, and limited visibility into the true cost and value of its data spend.
- No centralized view of market data consumption or vendor relationships across global offices
- Inconsistent procurement processes across geographies, leading to duplicated effort and missed savings
- Aging technology infrastructure unable to support evolving business, regulatory, and data governance requirements
- Business units operating independently with no global demand management strategy
- The client needed an assessment that would span three offices on three separate continents, with a view to global roll-out
Our Approach
Oceanview Partners was engaged to undertake a comprehensive market data assessment encompassing vendor management, demand management, the market data procurement process, and the existing technology infrastructure. Leveraging our end-to-end Market Data Transformation model, we delivered:
- Current State Assessment: Developed a thorough "As-Is" model across all three geographies, identifying the various requirements and pain points of each business unit through structured workshops and stakeholder interviews
- Global Target Operating Model: Consolidated findings from three different continents to determine a unified Target Operating Model that satisfies business, technology, and regulatory demands across all the client's offices worldwide
- Business Value Roadmap: Developed a phased transformation roadmap identifying quick-wins for immediate savings as well as the medium-to-long-term path to achieve the desired Target Operating Model
- User Base Evaluation: Conducted a comprehensive evaluation of the current user base, providing the foundation for re-evaluating existing vendor contracts and right-sizing agreements based on actual usage
The Results
20%
Overall Savings in Phase 1
6 Mo
Comprehensive Assessment Delivered
Global
Target Operating Model Defined
In six months, Oceanview Partners delivered a comprehensive assessment of current issues, targeted business objectives, opportunities for improvement, and a business case with implementation options. Phase 1 of this effort translated into 20% overall savings through contract right-sizing based on actual usage data. The client subsequently selected a major global consulting firm for Phase 2 of their market data optimization effort, building on the foundation Oceanview established.