Driven by the perennial and on-going need for all financial institutions to drive down the recurring cost of the data and services, Kalaxis has designed a training course for market data managers, purchasing officers and those from the Business involved in sourcing market data, such as Bloomberg and Refinitiv, to name two.

The core principle underpinning the course was the now famous quote from Donald Rumsfeld in 2002, on the eve of the Iraq War: “There are known knowns, things we know that we know; and there are known unknowns, things that we know we don’t know …… but there are also unknown unknowns, things we do not know we don’t know.”

This sums up a great number of market data and procurement groups we have trained; namely this recognition that there are aspects about a vendor’s rate cards, policies and services, that they are not aware of, that they should or could know about.

With this in mind, the training course is designed for all sizes of financial institution. Both staff with a rudimentary knowledge of the topic, and for those with more advanced knowledge and experience of the range of market data products and services.

The course’s business objective is to arm the attending financial institution with: “sufficient knowledge to enable them to avoid unnecessary and wasteful spend on the main market data products and services.”

Following the course, being able to cut just 1% or 2% from the annual spend, will typically pay for the training fees within a matter of months.

The products within scope include both Financial Terminals, and data feeds.