David Anderson - Talking Market Data

Tristan Dehann Episode 47

Tue, 03 Mar 2026 00:00:00 +0000

https://www.linkedin.com/in/tristandehaan/

In this conversation, David Anderson and Tristan Dehaan explore the complexities of the market data industry, discussing career paths, the impact of AI, regulatory challenges, and cost containment strategies. They emphasize the importance of effective communication within organizations and the need for standardization in data licensing. The discussion also touches on the evolving landscape of market data, including the role of smaller vendors and the future trends that may shape the industry.

Takeaways:
Market data is often seen as a sport, requiring agility and strategy.
There is a noticeable knowledge gap in market data outside major financial hubs like London.
The complexity of data licensing remains a significant challenge for the industry.
AI is poised to transform market data operations, but it also raises concerns about data ownership.
Regulatory frameworks like DORA aim to enhance operational resilience in the market data space.
Cost containment is a priority for firms, but true cost reduction is challenging due to inflation and regulatory demands.
Effective communication within vendor management teams is crucial for success.
Smaller vendors can offer innovative solutions but face challenges in gaining market trust.
The industry is experiencing a wave of mergers and acquisitions, impacting competition.
The future of market data will likely involve more automation and AI-driven solutions.

Chapters:

00:00 Introduction to Market Data and Career Paths
05:51 Observations on Market Data Outside London
12:09 Human Dimension of Market Data Careers
18:01 Challenges in Data Licensing and Compliance
24:06 The Role of AI in Market Data Management
31:02 The Challenges of Market Data Management
34:14 The Impact of AI on the Industry
35:19 Navigating Regulatory Changes
41:01 Cost Containment in a Changing Market
48:48 Future Trends and Predictions

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Feargal O'Sullivan (USAM) 2026 Episode 46

Tue, 03 Feb 2026 02:00:00 +0000

https://www.linkedin.com/in/feargalosullivan/

In this podcast episode, David Anderson and Feargal O'Sullivan discuss the evolving landscape of the market data industry, touching on trends, challenges, and the impact of AI. They explore the complexities of data licensing, pricing dynamics, and the difficulties faced by smaller vendors in a consolidated market. The conversation emphasizes the importance of relationships in sales and the need for innovation within financial services, while also addressing the emotional aspects of sales decisions.

Takeaways:

The market data industry has seen significant consolidation over the years.

AI is becoming increasingly important in data interpretation and decision-making.

Data licensing and intellectual property rights are complex and often contentious issues.

Sales strategies must adapt to a more self-educating buyer landscape.

Building relationships remains crucial in the sales process, despite the rise of digital communication.

Smaller vendors face challenges competing against larger, established firms.

Innovation is essential for staying relevant in the market data space.

Procurement processes can hinder the adoption of new solutions.

The emotional aspect of sales decisions cannot be overlooked.

Firms should prioritize exploring innovative solutions to stay competitive.

Chapters:

00:00 Introduction and Background

04:51 Market Data Industry Trends

10:05 The Role of AI in Market Data

16:18 Data Licensing and Intellectual Property

20:59 Cost vs. Value in Market Data Pricing

27:37 High Frequency Trading and Market Dynamics

29:18 The Controversy of High-Frequency Trading

30:32 The Market Data Industry Landscape

32:30 Challenges for Small and Medium Enterprises

41:06 The Evolution of Sales in Financial Services

52:20 The Importance of Innovation in Banking

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Tim Baker (ViaNexus) 2026 Episode 45

Tue, 06 Jan 2026 02:00:00 +0000

I decided against splitting this into Parts 1 and 2 - ofcourse you can always watch in two parts. Time stamp is 31:25

Tim's LinkedIn https://www.linkedin.com/in/tim-baker-fintech-venturing/

Summary
In this engaging conversation, David Anderson welcomes back Tim Baker, the first returning guest on the podcast. They discuss the evolution of the podcast, the launch of Tim's new venture, Via Nexus, a marketplace for market data aggregation, and the transformative role of AI in the industry. The conversation also delves into the ongoing CUSIP legal case and its implications for the market data landscape, highlighting the challenges and opportunities that lie ahead.
Chapters
00:00 Welcome Back: The Podcast Journey
07:35 Introducing Via Nexus: A New Business Model
28:30 The Future of Market Data: AI and Innovation
31:44 The Evolution of AI in Market Data
34:32 Understanding Agentic AI and MCP
40:19 Challenges in Data Normalization and Licensing
45:05 The Rise of Agentic AI Applications
50:53 The Future of AI in Business and Licensing
53:20 CUSIP Legal Case Update and Industry Implications

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Sally and Trish (Exchange Audits) Episode 44

Tue, 02 Dec 2025 02:00:00 +0000

https://www.linkedin.com/in/sally-huxtable-b8703817/
https://www.linkedin.com/in/trish-gooch-2ba34649/

Summary
In this conversation, David Anderson engages with market data experts Sally Huxtable and Trish Gooch from Exchange Audits to explore the complexities of auditing in the market data industry. They discuss their extensive backgrounds, the evolution of audits, the importance of data governance, and the practicalities involved in conducting audits. The conversation also touches on the various tools available for market data management, the future of digital rights management, and how firms can prepare for audits effectively. The experts emphasize the need for better communication and collaboration between exchanges and firms to streamline processes and improve compliance.

Takeaways
Sally and Trish have over 70 years of combined experience in market data.
Audits focus on compliance, transparency, and accuracy in data usage.
The nature of audits has evolved from vendor-focused to end-user audits.
Data governance is crucial for compliance and effective audits.
A well-organized firm can significantly reduce the time taken for audits.
Market data tools are essential but often lack integration.
Digital Rights Management (DRM) is still developing in the audit space.
Firms should maintain clear documentation of their data usage and permissions.
Enterprise licenses can simplify compliance and reduce audit frequency.
Building direct relationships with exchanges can enhance understanding of policies.

Chapters

00:00 Introduction to Market Data and Guests
02:45 Backgrounds and Experience in Market Data
05:48 Understanding Audits in Market Data
08:44 The Evolution of Audits Over Time
11:41 The Importance of Compliance and Governance
14:47 Types of Audits and Their Execution
17:47 The Role of Third-Party Auditors
20:46 Practicalities of Conducting an Audit
23:52 Tools and Technologies in Market Data Auditing
26:32 Challenges in Market Data Compliance
29:57 Mapping and Taxonomies in Market Data
31:41 Navigating Market Data Challenges
34:50 The Role of Digital Rights Management
38:46 Understanding Compliance and Licensing
42:34 Preparing for Audits Effectively
50:34 Future Directions in Market Data Management

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

James Watson Episode 41 re recording

Tue, 11 Nov 2025 04:00:00 +0000

https://www.linkedin.com/in/jamesskippywatson/

Summary:
In this conversation, David Anderson speaks with James Watson about his extensive experience in the financial industry and the evolving landscape of market data pricing and sales strategies. They discuss the need for fairness in pricing, the importance of building relationships in sales, and the value of leveraging experience in the workforce. Watson emphasizes the significance of trust and understanding the audience in sales, as well as the benefits of intergenerational teams in fostering innovation and resilience. The discussion highlights the challenges faced by older employees in the job market and the need for organizations to recognize and utilize their expertise.

Chapters:
00:00 Introduction and Background of James Watson
02:39 The Role of Data in Financial Markets
05:54 Modern Pricing of Market Data
08:47 Fairness in Pricing Models
11:54 Value-Based Pricing vs Cost-Based Pricing
14:45 Sales Techniques in Market Data
17:34 Building Relationships in Sales
20:42 Investment Mindset in Data Pricing
31:34 Understanding Cost vs. Investment
34:44 The Importance of Quality Data
35:59 The Role of Specialists in Sales
39:26 Tactical Sales Plays
42:28 Leveraging Experience in Sales
46:36 The Value of Intergenerational Teams
49:40 The Need for Knowledge Transfer
55:18 Reevaluating Hiring Practices

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Himanshu Gupta (Solace) - Episode 43

Tue, 04 Nov 2025 04:00:00 +0000

https://www.linkedin.com/in/guptahim/
https://solace.com/

Summary:
In this conversation, David Anderson speaks with Himanshu Gupta from Solace about the evolving landscape of market data, the role of event brokers, and the challenges faced in capital markets, including latency, volume, and fairness. They discuss the importance of quality of service in messaging solutions, the competitive landscape including Kafka, and the significance of specialization in financial services. The conversation also touches on the role of hardware in low latency solutions, cloud adoption, and the impact of AI and automation on market data processes. Finally, they explore Solace's innovations, including the Solace Agent Mesh, and the future of market data and managed services.

Chapters:
00:00 Introduction to Himanshu Gupta and Solace
02:45 Market Data Distribution and Technology Stack
05:52 Understanding Event Brokers and Middleware
09:06 Challenges in Market Data: Latency, Volume, and Fairness
12:01 Quality of Service: Speed vs. Reliability
14:59 Competitive Landscape in Messaging Solutions
17:51 Kafka vs. Solace: Understanding Different Messaging Solutions
21:01 The Importance of Specialization in Capital Markets
23:50 The Role of Hardware in Low Latency Solutions
26:47 Cloud Solutions and Their Fit in Market Data
29:23 Deployment Preferences in Cloud Infrastructure
35:48 Navigating Cloud Migration Challenges
52:01 The Future of Market Data and AI Integration
58:04 The Impact of AI on Job Markets and Future Generations

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Special Episode - a story of tension and some angst - Exchange Data

Tue, 21 Oct 2025 02:00:00 +0100

I hasten to emphasise that this is not a point of view video. It is me leveraging some AI tools to first research the issues and then using AI to produce some short video explainers. Please jump in and comment on the content of this episode but also provide comments on this format. In hindsight I wished I had spoken a bit faster but in future videos with just me talking I now know how to speed that up (should I?). You the audience can adjust the speed that you watch or listen at.

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Special Episode - Knowledge, Training and Certification

Tue, 14 Oct 2025 02:00:00 +0100

I STRONGLY recommend listening at 1.5 or 1.8 or even 2.0 speed. I was filming without a script and hence spoke quite slowly. I will endeavour to get better (ie faster) at that.

As previously announced, I am now publishing full episodes monthly on the first Tuesday of each calendar month. Full episodes continue the approach of David Anderson in discussion with guests from the wider market data industry.I will publish occasional ‘special’ episodes like this in between main episodes.

This episode focus on how the industry can help its members to acquire more industry knowledge. And in the spirit of full disclosure, it’s a flagrant sales pitch by David Anderson for my TRAINING SERVICES. This podcast currently makes no money, so training is a useful top to my pensions as I am in this semi-retirement phase of my life after 41 years working in market data.

If you yourself and your firm are interested in my training, please get in touch on david.anderson@atradia.com or please help me spread the word. As mentioned in the recording I am teaching to the FISD FIA syllabus and exam but I am also very open to discussing ‘bespoke’ training tailored to more specific needs.

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Kevin Gower Episode 42

Tue, 07 Oct 2025 03:00:00 +0100

(11) Kevin Gower https://www.linkedin.com/in/kevingower/| LinkedIn

summary
In this conversation, David Anderson interviews Kevin Gower, exploring his extensive background in market data, the evolution of data management systems, and the future of market data engineering. They discuss the importance of understanding data management, the role of DAX, and the challenges of legacy systems. Kevin emphasizes the need for market data engineers to adapt to new technologies and the opportunities that arise from the changing landscape of market data.

takeaways

Kevin Gower has a diverse background in market data, spanning multiple countries and roles.
Occasional Digest started as a solution to market data issues related to public holidays.
Advisory roles in DAX focus on changing perceptions of data management.
DAX should be viewed as a data management tool rather than just a permissioning system.
Understanding data usage is crucial for cost management in market data.
The Advanced Transformation System (ATS) is underutilized in its capabilities.
Market data engineering is shifting from plumbing to analytics and data management.
There is a shrinking pool of market data engineers, raising concerns for the future.
Legacy systems pose challenges, but compelling events can drive change.
Opportunities in market data are abundant for those willing to adapt.

titles

Navigating the Market Data Landscape with Kevin Gower
The Evolution of Market Data Engineering

Sound Bites

"I see those as opportunities, not threats."
"The compelling event is what drives change."
"Learn the products, learn the data."

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Ian McIntyre (Pico Trading) Episode 40

Tue, 23 Sep 2025 04:00:00 +0100

https://www.linkedin.com/in/imcintyre/
https://www.pico.net/

Summary
In this conversation, David Anderson interviews Ian McIntyre from Pico Trading, exploring the multifaceted world of market data and trading technology. They discuss Ian's extensive background in the industry, the diverse services offered by Pico Trading, and the importance of low latency in market data. The conversation delves into the nuances of direct connectivity versus aggregated data vendors, the role of colocation, and the impact of emerging trends in fixed income markets. Ian shares insights on telecommunications, the significance of network observability through Corval, and the evolving landscape of cloud and AI in market data. The discussion also touches on operational resilience and regulatory compliance, highlighting the challenges and opportunities within the industry.

Takeaways
Ian McIntyre has over 20 years of experience in market data.
Pico Trading offers diverse services including hosting, connectivity, and trading technology.
Low latency is a critical factor in market data and trading.
Direct connectivity can reduce costs for clients compared to aggregated vendors.
Colocation provides efficiency and cost-effectiveness for trading firms.
Pico is not a member of exchanges but facilitates client access to them.
The fixed income market is seeing increased demand for low latency solutions.
Corval enhances network observability and troubleshooting for clients.
Cloud technology is beneficial for historical data but poses challenges for low latency.
Regulatory compliance, such as DORA, is becoming increasingly important for market participants.

Chapters
00:00 Introduction to Ian McIntyre and Pico Trading
03:51 Overview of Pico Trading's Services
08:12 Understanding Low Latency in Market Data
12:35 Direct Connectivity vs. Aggregated Data Vendors
18:20 Role of Colocation in Trading
18:53 Pico's Position in Exchange Membership
21:48 Trends in Market Data and Trading Technology
23:12 Emergence of Low Latency in Fixed Income Markets
29:10 Telecommunications and Direct Connectivity
30:11 Pico's Network and Extranet Solutions
33:46 Redline and Its Role in Market Data
39:03 Corval: Network Observability and Monitoring
42:47 Cloud and AI in Market Data
55:40 Operational Resilience and Regulatory Compliance

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Elena Philipova (LSEG D&A) Episode 39

Tue, 16 Sep 2025 04:00:00 +0100

https://www.linkedin.com/in/elenaphilipova

https://www.lseg.com/en/data-analytics

Summary

In this conversation, David Anderson interviews Elena Philipova from LSEG Data Analytics about the evolving landscape of ESG (Environmental, Social, and Governance) data and its significance in sustainable finance. They discuss the importance of disclosures, the impact of regulations, and the role of AI in analysing ESG data. Elena emphasizes the need for standardized reporting and the strategic importance of sustainability for companies. The conversation also touches on the challenges of double materiality and the convergence of ESG data providers, highlighting the future of ESG reporting and its integration into financial services.

Takeaways

· Elena Philipova leads sustainable finance solutions at LSEG.

· The conversation around ESG has evolved significantly over the years.

· Disclosures are crucial for measuring ESG impacts and setting targets.

· Regulatory frameworks are driving the need for standardized ESG reporting.

· Companies are increasingly recognizing the strategic importance of sustainability reporting.

· Double materiality considers both the impact of companies on society and vice versa.

· AI is being leveraged to analyse ESG data more effectively.

· There is a growing convergence among ESG data providers.

· The demand for ESG data is becoming more standardized across the industry.

· ESG is maturing, not dying, despite media narratives.

Chapters

00:00 Introduction to ESG and LSEG Data Analytics

02:59 Understanding ESG: Environmental, Social, and Governance

06:02 The Role of Investors and Asset Managers in ESG

08:48 Disclosures and Regulatory Frameworks in ESG

11:49 The Impact of Regulation on Corporate Reporting

14:43 The Importance of Double Materiality in ESG Reporting

17:58 Challenges in Quantifying ESG Data

20:57 The Future of ESG Reporting Standards

23:48 The Role of AI in ESG Data Analysis

26:53 The Demand for ESG Data Among Investors

29:44 Raw Data vs. Ratings in ESG Analysis

31:24 The Role of ESG in Equity Research

35:03 The Evolution of ESG Data Disclosure

39:21 Estimating Data for Smaller Companies

40:47 Navigating the ESG Data Provider Landscape

46:41 Convergence in ESG Data Requirements

50:08 The Future of ESG Maturity

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Vyasan Pillay (TMX Group) - Episode 38

Tue, 09 Sep 2025 04:00:00 +0100

https://www.linkedin.com/in/vyasanpillay/
https://www.tmx.com/en
In this conversation, Vyasan Pillay, a key figure at TMX, shares insights into his journey in the market data industry, the structure and significance of TMX and Canadian exchanges, and the importance of a client-centric approach. He discusses the challenges faced in customer relationships, the human capital aspect of market data, and the regulatory landscape in Canada. Vyasan also elaborates on the role of the Information Processor (IP) in Canada and how exchanges are evolving to provide value-added services to their clients. The conversation concludes with a focus on the importance of communication and collaboration between exchanges and their clients.
Takeaways
• Vyasan Pillay has a rich background in market data, starting in South Africa.
• TMX is a significant player in the Canadian market, encompassing various exchanges.
• Canada's market data industry is smaller compared to the US but has a strong global presence.
• Client-centricity is crucial for exchanges to maintain good relationships with customers.
• Regulatory pressures shape how exchanges operate and develop new products.
• The Information Processor (IP) in Canada consolidates market data for easier access.
• Exchanges are increasingly looking for ways to add value beyond traditional data offerings.
• Human capital is a concern, with a need for mentorship and succession planning in the industry.
• Communication between exchanges and clients is vital for understanding needs and improving services.
• Exchanges must balance pricing with the value provided to avoid customer dissatisfaction.

Chapters
00:00 Introduction to Vyasan Pillay and TMX
02:56 The Structure and Role of TMX
05:55 Canada's Market Position and Global Comparison
08:53 Client-Centric Approach in Market Data
11:52 Cynicism in Client Relationships
14:37 Human Capital in Market Data
17:43 Regulation in Canadian Financial Markets
32:02 The Stability of Canada's Regulatory Environment
33:51 Understanding Canadian Market Regulations
34:43 The Role of Information Processors in Canada
37:50 Navigating Data Access and Exchange Relationships
40:44 Value-Added Services and Analytics in Exchanges
45:47 Client Relationships and Exchange Perceptions
51:50 Creating Value in a Competitive Market
56:46 Final Thoughts on Communication and Collaboration

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Robert Milazzo (New York Life) - Episode 37

Tue, 02 Sep 2025 00:00:00 +0100

https://www.linkedin.com/in/robert-milazzo-9330958b/
https://www.newyorklifeinvestments.com/

In this conversation, David Anderson and Robert Milazzo discuss the complexities of market data management, focusing on the organizational structure, the role of procurement, and the challenges faced by buy-side and sell-side firms. They delve into vendor negotiations, the importance of transparency in pricing, and the need for effective cost benchmarking. Additionally, they explore the dynamics of human capital in market data teams, the benefits of building offshore teams, and the intricacies of vendor relationships. Robert emphasizes the importance of pushing back against vendor pressures and maintaining a strong stance in negotiations.

Takeaways
Robert Milazzo has over 20 years of experience in market data.
The organizational structure of market data teams varies significantly across firms.
Procurement plays a crucial role in managing market data relationships.
Buy-side firms face unique challenges in negotiating with index and credit rating providers.
Cost benchmarking can help firms understand their market data spending.
Transparency in pricing is essential for effective negotiations with vendors.
Building offshore teams can lead to cost savings and operational efficiency.
Vendor relationships require careful management and negotiation skills.
Market data teams often face pressure to reduce costs while maintaining service quality.
Fighting for fair vendor practices is crucial for market data managers.

Chapters
00:00 Introduction and Background
02:54 Understanding New York Life's Structure
06:31 Market Data Organizational Dynamics
10:23 The Role of Subject Matter Experts
12:21 Buy-Side vs Sell-Side Market Data Challenges
17:08 Negotiating with Index and Credit Rating Providers
22:02 The Role of Benchmarking in Market Data
27:56 Cost Management and Team Dynamics
32:20 Navigating Organizational Change
35:08 Sales Strategies and Techniques
42:23 The Human Capital Landscape
49:18 Offshoring and Talent Development
55:48 Fighting the Good Fight Against Vendors

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Steve Moreton (CJC) - Episode 36

Tue, 26 Aug 2025 04:00:00 +0100

https://www.linkedin.com/in/stevemoreton/

https://cjcit.com/

Summary

In this conversation, David Anderson and Steve Morton discuss the evolving landscape of market data systems, focusing on the importance of operational resilience, the impact of cloud technology, and the integration of AI and hardware innovations. They also address the challenges of talent acquisition in the market data industry and explore the potential of virtual reality as a future tool for data visualization.

Takeaways

Steve Morton has a long history in technology and market data.

CJC is a market data consultancy with a global presence.

Operational resilience is critical for market data systems.

Cloud technology has transformed the market data landscape.

AI and hardware advancements are shaping the future of market data.

Talent acquisition is a significant challenge in the industry.

CJC Academy focuses on training and developing talent.

Virtual reality could revolutionize data visualization in finance.

The importance of understanding both functional and non-functional requirements in systems.

Market data distribution is essential for real-time applications.

Chapters

00:00 Introduction and Background

02:50 Market Data Systems Overview

05:48 The Evolution of Market Data Technologies

09:10 Operational Resilience in Market Data

11:50 Cloud Journey in Market Data

15:00 AI and Future Trends

18:01 Talent and Training in Market Data

20:49 Conclusion and Final Thoughts

29:50 The Cloud Landscape in Market Data

35:36 Challenges of Cloud Adoption

39:36 Testing Innovations with LSEG and Oracle

43:06 The Future of Cloud and Market Data

48:10 Human Capital in Market Data

55:29 The Role of VR in Market Data

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Alex Stepney (Google Cloud) Episode 35

Mon, 18 Aug 2025 04:00:00 +0100

Alex was one of the early vanguard talking to our industry about The Cloud.
https://www.linkedin.com/in/alexstepney/
https://cloud.google.com/

Summary

In this conversation, Alex Stepney shares his journey from a physicist to a key player in the cloud and market data sectors. He discusses the evolution of cloud technology in financial services, the importance of security, and the challenges of real-time data management. The conversation also delves into architectural strategies, the significance of cultural transformation in organizations, and the need for continuous learning and innovation in the rapidly changing landscape of technology and finance.

Takeaways

· Alex Stepney's background in physics laid the foundation for his career in technology.

· Market data is a critical component of financial services, requiring a deep understanding of various technologies.

· Cloud technology is an evolving paradigm that organizations must adapt to for growth.

· Security concerns in cloud computing have shifted from 'no' to 'how can we make it work?'.

· Hybrid and multi-cloud architectures are essential for regulated industries to mitigate risk.

· BigQuery offers a SQL interface for large data sets, but is not designed for real-time data.

· Cultural transformation is crucial for organizations to embrace innovation and change.

· Organizations should learn from other industries to drive innovation.

· The journey to cloud adoption is incremental and requires experimentation.

· Continuous learning and adaptation are key to success in the cloud era.

Chapters

00:00 The Journey Begins: Alex Stepney's Background

03:05 Market Data and Its Evolution

06:00 The Role of Cloud in Financial Services

09:09 Architectural Insights: Bridging On-Prem and Cloud

11:51 Security Concerns in Market Data

14:46 Understanding Latency and Market Data Requirements

18:07 Navigating the Hybrid Cloud Landscape

21:06 The Importance of Open Standards

23:52 The Ecosystem of Financial Services

27:05 Google's Role in Market Data Transformation

33:58 The Evolution of Market Data Messaging

38:04 Understanding BigQuery and Its Applications

41:30 Data Sharing and Its Impact on Capital Markets

43:38 Democratizing AI and Analytics for All

44:46 Cultural Transformation in the Cloud Era

48:53 Innovation vs. Cost Control in Capital Markets

51:58 Navigating Cloud Misunderstandings

54:50 The Future of Matching Engines in the Cloud

58:55 Embracing Continuous Learning and Innovation

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Mark Randall (JSE) - Episode 34

Tue, 12 Aug 2025 04:00:00 +0100

We discuss the nature of operating an exchange in an emerging market – specifically within the wider context of the African continent. Mark has a great passion for ‘Analytics’ which are part of the JSE data offering.

https://www.linkedin.com/in/mark-randall-91008b8/

https://www.jse.co.za/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

John Willock (Blue Ocean Technologies) - Episode 33

Tue, 05 Aug 2025 04:00:00 +0100

John and David discuss the move towards trading US stocks 24/5 – something driven by interest mainly from the Asia Pacific region. This includes understanding why this is being led by ATSs not the fully regulated players. We touch on important considerations like Corporate Actions that add complexity. John has deep insight on all of this.

https://www.linkedin.com/in/john-willock-blockchain/

https://blueocean-tech.io/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Ant Singh (FactSet) - Episode 32

Tue, 29 Jul 2025 04:00:00 +0100

Ant and David discuss how FactSet are operating in the real time market data space, focussing on ‘data feeds’. Part of this covers some more generic discussion of datafeed subtopics e.g. throttling and conflation.

https://www.linkedin.com/in/anant-singh-2284323/
https://www.factset.com/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Scott Brown (Barclays) Episode 31

Tue, 22 Jul 2025 04:00:00 +0100

This is a great opportunity to hear from a customer firm where we discuss where 'Market Data' sits organisationally and how Barclays operate a 'Hub' approach out of Glasgow. That prompts a discussion about offshoring, near shoring and outsourcing. Further discussion focuss on over arching business strategy and how they work with 'strategic' vendors and 'niche' vendors' - including some robust and constructive advice for sales execs.

https://www.linkedin.com/in/scott-brown-41b6084b/
https://home.barclays/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Stephen Veasey (3di) Episode 30

Tue, 15 Jul 2025 04:00:00 +0100

Stephen and David discuss consulting, managed services, data catalogs , and much more.

https://www.linkedin.com/in/stephen-veasey-5357273/
https://3di-ltd.com/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Ben Whittam Smith (Deontic Data) Episode 29

Tue, 08 Jul 2025 04:00:00 +0100

We discuss AUTOMATED Rights Management - the journey to automating market data righta management has been a long one , and it continues. It's not binary it's iterative. ODRL and the W3C was a goof starting point pre 2019 since then Generative AI has given this project an even stronger lease of life.
https://www.linkedin.com/in/benedictws/
https://www.deonticdata.com/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Jeff Kimsey (Nasdaq) Episode 28

Tue, 01 Jul 2025 04:00:00 +0100

Jeff and David dig deep into the history of the US Equity Markets and also go into some detail on how the US regulates Equity markets including the current Consolidated Tape Plan - and what is coming!
--- Note that Jeff's dog has some strong opinions too.

https://www.linkedin.com/in/jeffkimsey/
https://www.nasdaq.com/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Mike Carrodus (Substantive Research) Episode 27

Tue, 24 Jun 2025 03:00:00 +0100

David and Mike discuss - research bundling and more recent unbundling; also cost containment and benchmarking.

https://www.linkedin.com/in/mike-carrodus-63788230/
https://substantiveresearch.com/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Sara Abdul Samad (RTS) Episode 26

Tue, 17 Jun 2025 03:00:00 +0100

In this discussion with Sara we cover three broad topics including Exchange Data licensing and commercial models; AI in the broader context and ref Market Data; and some very useful insights into the Middle East where Sara is based.
Sara's LinkedIn - https://www.linkedin.com/in/sara-abdul-samad-emba-cfa-876b785/
RTS - https://www.linkedin.com/company/reinvent-transform-sustain/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Steve Roe (TNS) Episode 25

Tue, 10 Jun 2025 02:00:00 +0100

Steve and David explore lots about the ‘…. as a Service’ model and delve into the more specific ‘Market Data as a Service’ variant. Data Vendors and Talent are also topics we cover.

https://www.linkedin.com/in/steven-roe-7a6b552/

https://tnsi.com/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

John Ikel (Morgan Stanley) Episode 24

Tue, 03 Jun 2025 01:00:00 +0100

John and David discuss where Market Data fits organizational in a firm, and dive into how working with exchanges and their licensing is not the same as classic vendor management.

https://www.linkedin.com/in/johnikel/

Morgan Stanley | Global Leader in Financial Services

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Stuart Roberts (Sprada) Episode 23

Tue, 27 May 2025 01:00:00 +0100

Stuart and David discuss broad market data management including containing cost and how things can be different on the Buy Side. Two other key topics are Marked Data Systems in 2025 and thoughts on addressing APAC as a region.

https://www.linkedin.com/in/stuartroberts15/

https://www.sprada.sg/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Bernard Schut (BIQH) Episode 22

Tue, 20 May 2025 05:00:00 +0100

Bernard is slightly newer to the market data industry than I am but he has packed a lot of experience and expert knowledge into that 13 years. Our conversation focused on vendor neutrality and many other topics.
https://www.linkedin.com/in/bernardschut/
https://www.biqh.com/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Sally Hinds (DMCS) Episode 21

Tue, 13 May 2025 06:00:00 +0100

It was great talking with one of my most longstanding friends in the market data industry - Sally was already working for TELERATE when I joined in September 1984. Sally now runs her own consulting firm DMCS but before that she has been Global Head of Market Data at HSBC and Sally was a founding member of the UK IPUG.
https://www.linkedin.com/in/dmcs/
https://dmcs.consulting/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Matt Eddy (LSEG D&A) Episode 20

Tue, 06 May 2025 05:00:00 +0100

Matt sheds light on many issues to do with what a modern market data system is. We also discuss the role of such a major player in this space looking back on Triarch, RMDS, TREP, and now RTDS.
For more about Matt:
https://www.linkedin.com/in/matteddy/
https://www.lseg.com/en

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Stephen Dorrian (CBOE Global) Episode 19

Tue, 29 Apr 2025 05:00:00 +0100

Stephen is a true expert when it comes to Exchange Data and we covered a lot in our conversation - including what the European Consolidatred Tapes are and also delving into the tricky topic of RCB (reasonable commercial basis).
For more about Stephen:
https://www.linkedin.com/in/stephendorrian/
https://www.cboe.com/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Terry Roche (MarketsIO) Episode 18

Tue, 22 Apr 2025 05:00:00 +0100

This was a vibrant conversation with Terry touching on key topics about vendor neutrality and issues to do with legacy and lockin as it relates to market data systems .
Find out more about Terry here:
https://www.linkedin.com/in/teroche/
https://www.marketsio.com/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Kevin Morgan (Expand Research) Episode 17

Tue, 15 Apr 2025 06:00:00 +0100

Great to see Kevin Morgan (ex Global Head of Market Data at HSBC ) back in the market data world. Talking Cost (doesn't everyone!), Benchmarks, and Talent.

https://www.linkedin.com/in/marketdata/
https://www.bcg.com/beyond-consulting/expand-research/default
https://bcgexpand.com/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Richard Clements (Vendex Solutions) Episode 16

Tue, 08 Apr 2025 05:00:00 +0100

Richard and David discuss Catalogues, Directories, Taxonomies and so much more. Data Discovery is also a crucial part of the discussion.
https://www.linkedin.com/in/richard-clements-6a20641/
https://vendexsolutions.com/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Leigh Walters (TRG Screen) Episode 15

Tue, 01 Apr 2025 06:00:00 +0100

Discussing macro issuese such as cost control and the impact of AI (and cloud) on ouyr industry. Also discussing tools and services including 'as a service (...aaS) '. Also touching on Outsourcing, offshoring .. and near shoring .

https://www.linkedin.com/in/leigh-walters-0166101/
https://www.trgscreen.com/

CHAPTERS:
00:00 Introductions
02:48 More than Inventory Management
04:27 Macro issues including cost control
12:37 AI (and cloud)
20:38 Data needs to be in good shape
24:28 Tools and Services
32:35 Benchmarking
41:54 Outsourcing, Offshoring, and Near-shoring
52:51 Final thoughts

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Neil Ashmore (Datagum) Episode 14

Tue, 25 Mar 2025 05:00:00 +0000

Large part of this vibrant discussion with Neil focussed on TALENT in the market data industry - especially how to attract and hold new talent. We also discussed COST and DRM - and finally Cross Industry collaboration.
https://www.linkedin.com/in/neil-ashmore-82506055/
https://www.datagum.com/
CHAPTERS:
00:00 Introduction
04:38 Talent
26:20 Cost
41:30 DRM
45:57 Industry collaboration
50:10 Final thoughts

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Debbie Lawrence (LSEG D&A) Episode 13

Tue, 18 Mar 2025 05:00:00 +0000

Debbie Lawrence of LSEG discusses Data Aquistion; Complex licensing; AI and IPR ... and much much more.
https://www.linkedin.com/in/debbie-lawrence-1a40941

www.lseg.com

Chapters
00:00 Introduction
00:52 Role at LSEG
04:11 Complexities of licensing
08:42 Self Service
10:20 Tweaks add complexity
10:54 Standardisation seems to be a red flag
14:02 AI policy
15:28 Non Exchange data
18:28 It happens over time
19:39 Segue into AI
21:57 AI in our world
30:46 AI legalise
32:03 Private Markets
35:13 Final thoughts

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Alan Ross (DRDM) - Episode 12

Tue, 11 Mar 2025 06:00:00 +0000

Alan talks about his previous role as global head of market data at a bulge bracket Investment bank. He then goes on to discuss his intriguing and inventive approach to digital rights management.

https://www.linkedin.com/in/alan-ross-451a0286/
https://drdm.io/

CHAPTERS:
00:00 Introduction
00:48 Alan Ross
03:02 Observations from a Global Head of Market Data
17:48 More about Market Data Systems
30:35 DRDM - defining the problem(s)
40:04 DRDM - the solution(s)
49:46 Computer readable contracts?
52:15 Breaking it down
1:04:02 Wrapping up

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Alistair Brooker (Calero) - Episode 11

Tue, 04 Mar 2025 02:00:00 +0000

Alistair Brooker from Calero discuses the very latest in Inventory Management and how Calero have collaborated with firms like Expand and Datagum.
https://www.linkedin.com/in/alistair-brooker-07ba555/
https://www.calero.com/
CHAPTERS:
00:00 Introduction
01:45 Who is Alistair and Calero
03:54 What is Inventory Management
07:53 Competitors and differentiators
12:47 Category Management
13:25 How difficult/special is Market Data
16:36 Rubish in Rubish out
19:45 Standardisation
23:16 Wider ecosystem
26:15 Working with Expand
35:09 APIs
41:08 Application Inventory
44:40 Usage
48:10 Datagum arrive and others
52:18 Watch out for

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Ollie Cadman (AiMi)- Episode 10

Tue, 25 Feb 2025 02:00:00 +0000

Ollie Cadman discusses a new AI based approach to ' Notifications'

https://www.linkedin.com/in/olliecadman/
https://aimi.technology/

00:00 - Intro
00:34 - Who is Ollie Cadman
01:14 - High Level ref Data and Data Policies
05:30 - Constant Change hence Notifications
13:20 - Time is a factor
15:53 - Clean sheet of paper versus Legacy
20:59 - How to do this
24:46 - APIs
30:29 - Objections
33:53 - Final points

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Bill Bierds (BCC Group) Episode 9

Tue, 18 Feb 2025 07:00:00 +0000

The full length episode discussing - Market Data Systems; Market Data in the Cloud; and Market Data as a Service (MDaaS).

https://www.linkedin.com/in/bill-bierds-2197291/
https://www.bccgi.com/Group

00:00 Intro
00:45 Who is Bill Bierds
02:22 Market Data Systems
23:25 Market Data in the Cloud (MDC)
41:35 Market Data as a Service (MDaaS)
59:20 Parting thoughts

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Deb Walton (ex Refinitiv) - Episode 8

Tue, 11 Feb 2025 07:00:00 +0000

Deb and David discuss 'what is market data' and then go onto discuss Talent in our sector. Finally we discuss 'transitioning' from a full time role to retirement or semi retirement.

LinkedIn profile https://www.linkedin.com/in/waltondebra/

00:00 Introduction
00:35 Debra’s illustrious career
03:15 ‘Market Data’ – what is it?
07:33 The human element – Talent
33:12 Transitioning
39:52 Final thoughts and advice

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Will Cowling (IRESS/Quanthouse) - Episode 7

Tue, 04 Feb 2025 06:00:00 +0000

Will Cowling has a wealth of experience gained from many years working at large global investment banks such as UBS and HSBC and more recently with data vendor Quanthouse (part of IRESS). Will has very specific and deep expertise in respect of Exchange Data.

https://www.linkedin.com/in/will-cowling-58451451/
https://www.linkedin.com/in/atradia/

00:00 – Intro
02:51 – 8 thoughts about Podcasts
10:48 – Who is Will Cowling
14:13 – Core Market Data
16:04 – Different data types making up Core Data
18:46 – The dynamics of compliance
42:30 – The Industry needs to help
47:40 – Rating Agencies
48:40 – Index Providers
50:20 – Numbering Agencies
53:27 - Unit of Count
1:01:42 - Desktop API
1:03:00 - Counting devices
1:04:17 - Non Display unit of count
1:08:31 - Conclusions

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Caroline Poisson (Chain IQ) - Episode 6

Tue, 28 Jan 2025 07:00:00 +0000

Caroline and David discuss Procurement in General. Procurement as it relates to: Index Data; and ESG Data. Moving onto discussing User Groups especially the UK IPUG (Information Provider User Group see www.ipug.org).

https://www.linkedin.com/in/caroline-poisson/

Chain IQ | Global leader in indirect procurement services

00:00 - Introduction
01:30 - All about Caroline and Chain IQ
03:50 - Procurement in General
25:40 - Procurement as it relates to Data Types
26:14 - Index Data
32:21 - ESG Data
39:50 - User Groups (eg IPUG)
52:26 - Hot topics for 2025
53:15 - Inventories
56: 18 - Enterprise Deals
01:00:25 - Benchmarking a topic for a future episode

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Nimesh Bharadia (Rose Executive) - Episode 5

Tue, 21 Jan 2025 06:00:00 +0000

Nimesh shares his thoughts on Asia Pacific as a region; AI in general and specifically in respect of Market Data; and finally discussing the issue of comnplex and diverse Data Policies.

NIMESH BHARADIA -- https://www.linkedin.com/in/nimeshbharadia/
DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

CHAPTERS:
00:00 - Introduction
01:23 - Who is Nimesh Bharadia?
03:46 - what are the 3 topics of THIS episode
05:58 - Asia Pacific the region (1 of 3)
29:15 - AI in general and in respect of 'Market Data' (2 of 3)
48:05 - Data Policies complexity and diversity (3 of 3)
01:00:00 - Conclusions

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Dave Stone (Sherpa) - Episode 4

Fri, 10 Jan 2025 09:00:00 +0000

Dave Stone disccuses Exchange Data; Market Data Systems; and Talent

DAVE STONE -- https://www.linkedin.com/in/davestone/
DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Tim Baker (Blue Sky Nexus) - Episode 3

Fri, 10 Jan 2025 09:00:00 +0000

Tim discusses - a new Market Data vendor; AI (Artifical Intelligence; Symbology - including Identifiers and CUSIP .

TIM BAKER -- https://www.linkedin.com/in/tim-baker-fintech-venturing/
DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Sallianne Taylor (Bloomberg) - Episode 2

Fri, 10 Jan 2025 09:00:00 +0000

Sallianne discusses Exchange Data, Emerging Markets and Talent in the market data industry.

SALLIANNE TAYLOR -- https://www.linkedin.com/in/sallianne-taylor-5744531/
DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

Brennan Carley (Proton Advisors) - Episode 1

Fri, 10 Jan 2025 08:00:00 +0000

Brennan discusses the Market Data Industry in general - and specifically AI and Blockchain.

BRENNAN CARLEY -- https://www.linkedin.com/in/brennancarley/
DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/