TNS Launches New Solution to Optimize Market Data Usage
Transaction Network Services (TNS) has introduced an innovative product aimed at optimizing data usage costs for financial institutions. The newly launched Data Usage Optimizer (DUO) is tailored for both buy-side and sell-side firms. This solution effectively generates reports that provide actionable insights on market data usage, allowing firms to identify and reduce their subscription fees by highlighting unused data feeds.
Combining Services with Advanced Infrastructure
DUO integrates TNS’ monitoring services with its robust network infrastructure. This unique solution offers institutions the ability to monitor which employees have not accessed specific data feeds recently. By identifying these inactive subscriptions, firms can make informed decisions to deactivate these services, ultimately aiding in cost reduction.
Management of Market Data Feeds
Tom Lazenga, the General Manager at TNS Financial Markets, remarked on the financial strain caused by market data feeds, stating, "Market data feeds carry a cost whether they are actively used or not. Over time, managing these feeds has also become increasingly complex. DUO is a new unique solution that simplifies this process and can help firms achieve significant cost savings." This highlights how critical it is to have visibility and control over market data expenditures.
Launch of Market Data as a Service
The introduction of DUO coincides with the debut of TNS's Market Data as a Service (MDaaS). This offering provides a comprehensive, vendor-agnostic managed infrastructure that supports a variety of market data applications. Clients benefit from extensive support for both individual market data applications and consolidated feeds, ensuring optimal performance and efficiency.
Comprehensive Solution for Financial Firms
Cia Fatemi, the newly appointed TNS Global Head of Sales for Market Data Services, commented on the importance of their offerings, stating, "TNS Market Data as a Service is the only vendor agnostic turnkey solution for global market data, including hardware, hosting, connectivity, application management, and administration." Such comprehensive monitoring capabilities provide clients with critical intelligence on system performance, enabling rapid identification and resolution of issues.
Strengthening Their Market Position
The combination of DUO and TNS's Market Data as a Service provides financial firms with exceptional opportunities to streamline their market data costs while enhancing their monitoring capabilities. This unique combination positions TNS as a leading provider of essential infrastructure, connectivity, and analytic services for financial markets.
TNS connects more than 5,000 endpoints in the financial community through a global point-of-presence network. Their solutions, designed specifically for global market participants, include connectivity, colocation, cloud services, and market data solutions. Each service is backed by 24/7 monitoring from TNS' Network Operations Centers located in key regions worldwide, including the US, UK, Australia, and Malaysia.
About Transaction Network Services (TNS)
TNS, founded in 1990 with its headquarters in the USA and offices in Europe and Asia, is recognized as a reliable provider of vital infrastructure, connectivity, market data, and analytic services tailored for the Financial Markets community. Their managed Infrastructure-as-a-Service offerings help clients significantly reduce the challenges associated with direct market access. With a focus on ultra-low latency connectivity and local support available year-round, TNS is the trusted partner for over 750 counterparties worldwide.
Frequently Asked Questions
What is the Data Usage Optimizer (DUO)?
DUO is TNS's new solution designed to help financial firms optimize their market data usage and reduce costs by identifying unused data feeds.
How does DUO benefit financial institutions?
DUO allows institutions to monitor employee access to data feeds, enabling cost savings by eliminating subscriptions for feeds that are not in use.
What additional services does TNS offer alongside DUO?
TNS also offers Market Data as a Service, which provides managed infrastructure and comprehensive support for market data applications.
Who is involved in managing TNS's market data services?
Cia Fatemi is the newly appointed TNS Global Head of Sales for Market Data Services, overseeing the strategic direction of these solutions.
What sets TNS apart in the financial services market?
TNS provides a vendor-agnostic, turnkey solution with extensive infrastructure, cloud services, and 24/7 monitoring, distinguishing it in the financial services industry.
