IEX Partners with DataBP to Modernize Market Data Operations

The Investors' Exchange (IEX) has teamed up with market data administration specialist DataBP to streamline its commercial data management functions. The collaboration is centered around implementing DataBP's automation platform, which aims to simplify licensing, compliance, and reporting processes for IEX and its data users.

By integrating this system, IEX expects to reduce operational friction and improve the efficiency of its data services. The exchange's president, Bryan Harkins, stated that the partnership enables IEX to "focus on delivering innovative solutions and value to the trading community." The platform is intended to support IEX's broader commitment to transparency and operational efficiency.

Mark Schaedel, CEO of DataBP, said the alliance underscores a shared priority between the two firms. "We are thrilled to partner with IEX," Schaedel remarked, calling the exchange "an innovator in the market." DataBP currently serves a global roster of exchanges and data providers, positioning itself as a leader in automating complex data management workflows.

The initiative reflects a wider industry trend where exchanges seek to modernize backend operations in response to increasing demands from data vendors and institutional clients.