Citi is to be the first customer for Nyse Technologies' new market data administration service, developed in collaboration with consultancy Jordan & Jordan.
The managed service is built on Nyse's Data Administration and Reporting Technologies (Dart) suite.
Citi is to roll out the service across its global operations in an effort to slash market data administration costs. The workflow-based programme will cover direct reporting of entitlements to exchanges, exchange compliance, and the elimination of multiple user exchange fees across vendor platforms.
Don Madura, global head of real-time market data at Citi, says: "This service allows us to enhance our data compliance, reduce our administration costs and better control our exchange fees. It's part of our strategy of faithful reporting and paying only for what we use."