MarketAxess Expands Data Services Business with DataBP

Bond market operator and data provider, MarketAxess, is using the services of DataBP, a data licensing and commercial management platform, to support and automate data licensing and post-sales processes.

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MarketAxess is using DataBP's pricing engine and integration with Salesforce to better meet the business intelligence needs of its institutional fixed income trading clients, while at the same time trying to increase efficiency and reduce risk.

Ryan Gwin, head of data sales at MarketAxess, said, "DataBP's platform provides MarketAxess the opportunity to optimise the customer experience as we develop our data services business and offer new products. Having the tools to automate market data sales administration means that we can focus on the higher value activities involved with servicing clients and developing cutting edge products."

Mark Schaedel, CEO of DataBP, said, "We are thrilled to partner with MarketAxess who, in many ways, are doing to credit markets what we are doing in the market data space – introducing innovation and technology to support a necessary transition from analogue to digital. As credit markets become more automated and data-driven, streamlining the workflows supporting the provision and licensing of data are a critical enabler for innovation."

Source: The Desk