https://www.linkedin.com/in/jamesskippywatson/

Summary:
In this conversation, David Anderson speaks with James Watson about his extensive experience in the financial industry and the evolving landscape of market data pricing and sales strategies. They discuss the need for fairness in pricing, the importance of building relationships in sales, and the value of leveraging experience in the workforce. Watson emphasizes the significance of trust and understanding the audience in sales, as well as the benefits of intergenerational teams in fostering innovation and resilience. The discussion highlights the challenges faced by older employees in the job market and the need for organizations to recognize and utilize their expertise.


Chapters:
00:00 Introduction and Background of James Watson
02:39 The Role of Data in Financial Markets
05:54 Modern Pricing of Market Data
08:47 Fairness in Pricing Models
11:54 Value-Based Pricing vs Cost-Based Pricing
14:45 Sales Techniques in Market Data
17:34 Building Relationships in Sales
20:42 Investment Mindset in Data Pricing
31:34 Understanding Cost vs. Investment
34:44 The Importance of Quality Data
35:59 The Role of Specialists in Sales
39:26 Tactical Sales Plays
42:28 Leveraging Experience in Sales
46:36 The Value of Intergenerational Teams
49:40 The Need for Knowledge Transfer
55:18 Reevaluating Hiring Practices

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

https://www.linkedin.com/in/guptahim/
https://solace.com/

Summary:
In this conversation, David Anderson speaks with Himanshu Gupta from Solace about the evolving landscape of market data, the role of event brokers, and the challenges faced in capital markets, including latency, volume, and fairness. They discuss the importance of quality of service in messaging solutions, the competitive landscape including Kafka, and the significance of specialization in financial services. The conversation also touches on the role of hardware in low latency solutions, cloud adoption, and the impact of AI and automation on market data processes. Finally, they explore Solace's innovations, including the Solace Agent Mesh, and the future of market data and managed services.

Chapters:
00:00 Introduction to Himanshu Gupta and Solace
02:45 Market Data Distribution and Technology Stack
05:52 Understanding Event Brokers and Middleware
09:06 Challenges in Market Data: Latency, Volume, and Fairness
12:01 Quality of Service: Speed vs. Reliability
14:59 Competitive Landscape in Messaging Solutions
17:51 Kafka vs. Solace: Understanding Different Messaging Solutions
21:01 The Importance of Specialization in Capital Markets
23:50 The Role of Hardware in Low Latency Solutions
26:47 Cloud Solutions and Their Fit in Market Data
29:23 Deployment Preferences in Cloud Infrastructure
35:48 Navigating Cloud Migration Challenges
52:01 The Future of Market Data and AI Integration
58:04 The Impact of AI on Job Markets and Future Generations

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

I STRONGLY recommend listening at 1.5 or 1.8 or even 2.0 speed. I was filming without a script and hence spoke quite slowly. I will endeavour to get better (ie faster) at that.

As previously announced, I am now publishing full episodes monthly on the first Tuesday of each calendar month. Full episodes continue the approach of David Anderson in discussion with guests from the wider market data industry.I will publish occasional ‘special’ episodes like this in between main episodes.

This episode focus on how the industry can help its members to acquire more industry knowledge. And in the spirit of full disclosure, it’s a flagrant sales pitch by David Anderson for my TRAINING SERVICES. This podcast currently makes no money, so training is a useful top to my pensions as I am in this semi-retirement phase of my life after 41 years working in market data.

If you yourself and your firm are interested in my training, please get in touch on david.anderson@atradia.com or please help me spread the word. As mentioned in the recording I am teaching to the FISD FIA syllabus and exam but I am also very open to discussing ‘bespoke’ training tailored to more specific needs.

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

(11) Kevin Gower https://www.linkedin.com/in/kevingower/| LinkedIn

summary
In this conversation, David Anderson interviews Kevin Gower, exploring his extensive background in market data, the evolution of data management systems, and the future of market data engineering. They discuss the importance of understanding data management, the role of DAX, and the challenges of legacy systems. Kevin emphasizes the need for market data engineers to adapt to new technologies and the opportunities that arise from the changing landscape of market data.

takeaways

• Kevin Gower has a diverse background in market data, spanning multiple countries and roles.
• Occasional Digest started as a solution to market data issues related to public holidays.
• Advisory roles in DAX focus on changing perceptions of data management.
• DAX should be viewed as a data management tool rather than just a permissioning system.
• Understanding data usage is crucial for cost management in market data.
• The Advanced Transformation System (ATS) is underutilized in its capabilities.
• Market data engineering is shifting from plumbing to analytics and data management.
• There is a shrinking pool of market data engineers, raising concerns for the future.
• Legacy systems pose challenges, but compelling events can drive change.
• Opportunities in market data are abundant for those willing to adapt.

titles

• Navigating the Market Data Landscape with Kevin Gower
• The Evolution of Market Data Engineering

Sound Bites

• "I see those as opportunities, not threats."
• "The compelling event is what drives change."
• "Learn the products, learn the data."

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

https://www.linkedin.com/in/imcintyre/
https://www.pico.net/

Summary
In this conversation, David Anderson interviews Ian McIntyre from Pico Trading, exploring the multifaceted world of market data and trading technology. They discuss Ian's extensive background in the industry, the diverse services offered by Pico Trading, and the importance of low latency in market data. The conversation delves into the nuances of direct connectivity versus aggregated data vendors, the role of colocation, and the impact of emerging trends in fixed income markets. Ian shares insights on telecommunications, the significance of network observability through Corval, and the evolving landscape of cloud and AI in market data. The discussion also touches on operational resilience and regulatory compliance, highlighting the challenges and opportunities within the industry.

Takeaways
Ian McIntyre has over 20 years of experience in market data.
Pico Trading offers diverse services including hosting, connectivity, and trading technology.
Low latency is a critical factor in market data and trading.
Direct connectivity can reduce costs for clients compared to aggregated vendors.
Colocation provides efficiency and cost-effectiveness for trading firms.
Pico is not a member of exchanges but facilitates client access to them.
The fixed income market is seeing increased demand for low latency solutions.
Corval enhances network observability and troubleshooting for clients.
Cloud technology is beneficial for historical data but poses challenges for low latency.
Regulatory compliance, such as DORA, is becoming increasingly important for market participants.

Chapters
00:00 Introduction to Ian McIntyre and Pico Trading
03:51 Overview of Pico Trading's Services
08:12 Understanding Low Latency in Market Data
12:35 Direct Connectivity vs. Aggregated Data Vendors
18:20 Role of Colocation in Trading
18:53 Pico's Position in Exchange Membership
21:48 Trends in Market Data and Trading Technology
23:12 Emergence of Low Latency in Fixed Income Markets
29:10 Telecommunications and Direct Connectivity
30:11 Pico's Network and Extranet Solutions
33:46 Redline and Its Role in Market Data
39:03 Corval: Network Observability and Monitoring
42:47 Cloud and AI in Market Data
55:40 Operational Resilience and Regulatory Compliance

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

https://www.linkedin.com/in/elenaphilipova

https://www.lseg.com/en/data-analytics

Summary

In this conversation, David Anderson interviews Elena Philipova from LSEG Data Analytics about the evolving landscape of ESG (Environmental, Social, and Governance) data and its significance in sustainable finance. They discuss the importance of disclosures, the impact of regulations, and the role of AI in analysing ESG data. Elena emphasizes the need for standardized reporting and the strategic importance of sustainability for companies. The conversation also touches on the challenges of double materiality and the convergence of ESG data providers, highlighting the future of ESG reporting and its integration into financial services.

Takeaways

· Elena Philipova leads sustainable finance solutions at LSEG.

· The conversation around ESG has evolved significantly over the years.

· Disclosures are crucial for measuring ESG impacts and setting targets.

· Regulatory frameworks are driving the need for standardized ESG reporting.

· Companies are increasingly recognizing the strategic importance of sustainability reporting.

· Double materiality considers both the impact of companies on society and vice versa.

· AI is being leveraged to analyse ESG data more effectively.

· There is a growing convergence among ESG data providers.

· The demand for ESG data is becoming more standardized across the industry.

· ESG is maturing, not dying, despite media narratives.

Chapters

00:00 Introduction to ESG and LSEG Data Analytics

02:59 Understanding ESG: Environmental, Social, and Governance

06:02 The Role of Investors and Asset Managers in ESG

08:48 Disclosures and Regulatory Frameworks in ESG

11:49 The Impact of Regulation on Corporate Reporting

14:43 The Importance of Double Materiality in ESG Reporting

17:58 Challenges in Quantifying ESG Data

20:57 The Future of ESG Reporting Standards

23:48 The Role of AI in ESG Data Analysis

26:53 The Demand for ESG Data Among Investors

29:44 Raw Data vs. Ratings in ESG Analysis

31:24 The Role of ESG in Equity Research

35:03 The Evolution of ESG Data Disclosure

39:21 Estimating Data for Smaller Companies

40:47 Navigating the ESG Data Provider Landscape

46:41 Convergence in ESG Data Requirements

50:08 The Future of ESG Maturity

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

https://www.linkedin.com/in/vyasanpillay/
https://www.tmx.com/en
In this conversation, Vyasan Pillay, a key figure at TMX, shares insights into his journey in the market data industry, the structure and significance of TMX and Canadian exchanges, and the importance of a client-centric approach. He discusses the challenges faced in customer relationships, the human capital aspect of market data, and the regulatory landscape in Canada. Vyasan also elaborates on the role of the Information Processor (IP) in Canada and how exchanges are evolving to provide value-added services to their clients. The conversation concludes with a focus on the importance of communication and collaboration between exchanges and their clients.
Takeaways
• Vyasan Pillay has a rich background in market data, starting in South Africa.
• TMX is a significant player in the Canadian market, encompassing various exchanges.
• Canada's market data industry is smaller compared to the US but has a strong global presence.
• Client-centricity is crucial for exchanges to maintain good relationships with customers.
• Regulatory pressures shape how exchanges operate and develop new products.
• The Information Processor (IP) in Canada consolidates market data for easier access.
• Exchanges are increasingly looking for ways to add value beyond traditional data offerings.
• Human capital is a concern, with a need for mentorship and succession planning in the industry.
• Communication between exchanges and clients is vital for understanding needs and improving services.
• Exchanges must balance pricing with the value provided to avoid customer dissatisfaction.

Chapters
00:00 Introduction to Vyasan Pillay and TMX
02:56 The Structure and Role of TMX
05:55 Canada's Market Position and Global Comparison
08:53 Client-Centric Approach in Market Data
11:52 Cynicism in Client Relationships
14:37 Human Capital in Market Data
17:43 Regulation in Canadian Financial Markets
32:02 The Stability of Canada's Regulatory Environment
33:51 Understanding Canadian Market Regulations
34:43 The Role of Information Processors in Canada
37:50 Navigating Data Access and Exchange Relationships
40:44 Value-Added Services and Analytics in Exchanges
45:47 Client Relationships and Exchange Perceptions
51:50 Creating Value in a Competitive Market
56:46 Final Thoughts on Communication and Collaboration

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

https://www.linkedin.com/in/robert-milazzo-9330958b/
https://www.newyorklifeinvestments.com/

In this conversation, David Anderson and Robert Milazzo discuss the complexities of market data management, focusing on the organizational structure, the role of procurement, and the challenges faced by buy-side and sell-side firms. They delve into vendor negotiations, the importance of transparency in pricing, and the need for effective cost benchmarking. Additionally, they explore the dynamics of human capital in market data teams, the benefits of building offshore teams, and the intricacies of vendor relationships. Robert emphasizes the importance of pushing back against vendor pressures and maintaining a strong stance in negotiations.


Takeaways
Robert Milazzo has over 20 years of experience in market data.
The organizational structure of market data teams varies significantly across firms.
Procurement plays a crucial role in managing market data relationships.
Buy-side firms face unique challenges in negotiating with index and credit rating providers.
Cost benchmarking can help firms understand their market data spending.
Transparency in pricing is essential for effective negotiations with vendors.
Building offshore teams can lead to cost savings and operational efficiency.
Vendor relationships require careful management and negotiation skills.
Market data teams often face pressure to reduce costs while maintaining service quality.
Fighting for fair vendor practices is crucial for market data managers.

Chapters
00:00 Introduction and Background
02:54 Understanding New York Life's Structure
06:31 Market Data Organizational Dynamics
10:23 The Role of Subject Matter Experts
12:21 Buy-Side vs Sell-Side Market Data Challenges
17:08 Negotiating with Index and Credit Rating Providers
22:02 The Role of Benchmarking in Market Data
27:56 Cost Management and Team Dynamics
32:20 Navigating Organizational Change
35:08 Sales Strategies and Techniques
42:23 The Human Capital Landscape
49:18 Offshoring and Talent Development
55:48 Fighting the Good Fight Against Vendors

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/