For Immediate Release
SIIA Communications Contact: Allison Bostrom, firstname.lastname@example.org, (202) 289-7442
FISD to Recognize Data Provider for Outstanding Communication and Product Management in Support of MiFID II Implementation
WASHINGTON (September 6, 2017) – FISD, the Financial Information Services Association of SIIA (FISD), announces plans to recognize the Data Provider that excels in its communications and product management practices in support of the implementation of MiFID II. The award is scheduled to be presented in 2018 by the FISD’s Service Level & Communications (SL&C) Working Group.
This award mirrors the SL&C Working Group’s annual Outstanding Data Provider Award that for the past ten years has recognized the exchange or data provider that most clearly adheres to the Working Group’s Best Practice Recommendations. These recommendations are guidelines for communication and notification sent by exchanges and information providers to their customers and downstream distribution partners for events such as new product introductions, system upgrades, administrative and policy changes, and unplanned interruptions.
This special one-time award will focus solely on a Data Provider’s communication and product management performance involving MiFID II-related data product changes and events. These communications could refer to release of new data products, modification or cancellation of existing products, changes in data deliveries, commercial model changes, and changes in reporting and/or billing policies.
“We realize that MiFID II is having a massive impact on so many firms within our industry and we simply want to encourage and recognize firms that facilitate these changes via timely, complete and accurate conveyance of information”, said Sara Banerjee, COO of Layer 3 Technology and Co-Chair of the SL&C Working Group.
Tom Davin, Managing Director of FISD added, “This is another example of FISD members encouraging firms within the financial information industry to recognize and implement the broadly supported recommended practices provided by one of our Best Practices documents. Recognition and implementation of these standards enhance efficiencies and effectiveness within our industry.”
FISD (the Financial Information Services Association of SIIA) provides a neutral business forum for exchanges, market data vendors, specialist data providers, brokerage firms, investment managers and banks to address and resolve business and technical issues related to the distribution, management, administration and use of market data. Members use this forum to exchange ideas, build business relationships and improve the business climate associated with the worldwide flow of financial information. SIIA is an umbrella association representing 800+ technology, data and media companies globally. For more information, visit fisd.net.