News Feed Item

3D Innovations (3di) Reaches Impressive Milestone in Licensing Cost Avoidance on Behalf of Clients

LONDON, UNITED KINGDOM and NEW YORK, NY--(Marketwired - February 14, 2018) - 3d innovations, a data management software and services firm, today announced that in collaborating with financial institutions on data governance initiatives, the firm has reached an impressive figure of over USD one billion in cost avoidance. 3di have arrived at this positive checkpoint after 16 years of consulting across global data licensing domains.

Janelle Veasey, Director for Products and Services at 3di, recounts her first application-data assignment for RBS in 2002. Since then, she and the team have been conducting licensing remediation exercises at investment banks and investment firms across the world on an ongoing basis.

"While the cumulative sum sounds high, we have been around working on this since 2002. Since then, we have developed a unique culture of expertise in market and reference data management, based on 16 years of experience across 200 engagements and 300-plus sites world-wide. As a result, we are very much at the forefront of this domain challenge," says Veasey.

The challenge stems from the proprietary nature of exchange and vendor licensing, and the lack of an industry-wide digital rights management framework to manage and survey data usage as it is distributed across a firm's operations.

Veasey comments, "Data management and other operational groups are constrained by the capacity of their processes, people and technology in tracking data lineage and data usage throughout the enterprise. As a result, there is an endemic problem with the unintended use of unlicensed exchange and vendor data. This is a problem that data consumers are fully aware of so firms' CDOs are always looking to supplement their operational teams with external consultative support in order to remediate."

John Ikel, Head of Data Licensing and Compliance at 3di, points to a small set of institutions whose financial exposure to penalty fines, back payments or punitive unscheduled licensing fees has been so high that it took firms years to remediate. Incurring extra costs across such period is simply unavoidable.

Ikel suggests that remediation engagements often result in cost avoidance and often the structuring of new licensing arrangements. Whilst additional licensing creates unbudgeted costs, both consumer and vendor are put on a better footing going forward.

"It's not all bad news for consumers," said Ikel. "Engagements carried out with exchanges and vendors underpinned by integrity and transparency can result in conciliatory licensing, coupled with a mutually better understanding of the application data management challenges being faced by consumer firms."

About 3di
A data management consultancy with offices in the UK and U.S., 3di specialises in the three distinct areas of financial services data; market, reference and computational/derived data. 3di uses its globalmarkets knowledgeto offer investment banks, brokerages, central banks, investment managers, hedge funds, private banks, commodity trading houses and wealth managers best practice data management advisory services. www.3di-ltd.com

Image Available: http://www.marketwire.com/library/MwGo/2018/2/12/11G149898/Images/Janelle_Veasey_3di-6542ae2718919bb4b1bebe4220082d50.jpg
Image Available: http://www.marketwire.com/library/MwGo/2018/2/12/11G149898/Images/john_ikel_3di-d779ee45d6279fe1b1d3edc6feaa5196.jpeg

For more information
On behalf of 3di
Tinne Teugels
[email protected]
+1 (646) 5205548

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Blockchain. A day doesn’t seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner’s recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.’ While there is a lot of ‘hype vs reality’ discussions going on, there is no arguing that blockchain is b...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
The need for greater agility and scalability necessitated the digital transformation in the form of following equation: monolithic to microservices to serverless architecture (FaaS). To keep up with the cut-throat competition, the organisations need to update their technology stack to make software development their differentiating factor. Thus microservices architecture emerged as a potential method to provide development teams with greater flexibility and other advantages, such as the abili...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
Leading companies, from the Global Fortune 500 to the smallest companies, are adopting hybrid cloud as the path to business advantage. Hybrid cloud depends on cloud services and on-premises infrastructure working in unison. Successful implementations require new levels of data mobility, enabled by an automated and seamless flow across on-premises and cloud resources. In his general session at 21st Cloud Expo, Greg Tevis, an IBM Storage Software Technical Strategist and Customer Solution Architec...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
"As we've gone out into the public cloud we've seen that over time we may have lost a few things - we've lost control, we've given up cost to a certain extent, and then security, flexibility," explained Steve Conner, VP of Sales at Cloudistics,in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
The use of containers by developers -- and now increasingly IT operators -- has grown from infatuation to deep and abiding love. But as with any long-term affair, the honeymoon soon leads to needing to live well together ... and maybe even getting some relationship help along the way. And so it goes with container orchestration and automation solutions, which are rapidly emerging as the means to maintain the bliss between rapid container adoption and broad container use among multiple cloud host...
In his session at 21st Cloud Expo, Michael Burley, a Senior Business Development Executive in IT Services at NetApp, described how NetApp designed a three-year program of work to migrate 25PB of a major telco's enterprise data to a new STaaS platform, and then secured a long-term contract to manage and operate the platform. This significant program blended the best of NetApp’s solutions and services capabilities to enable this telco’s successful adoption of private cloud storage and launching ...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
"Since we launched LinuxONE we learned a lot from our customers. More than anything what they responded to were some very unique security capabilities that we have," explained Mark Figley, Director of LinuxONE Offerings at IBM, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Is advanced scheduling in Kubernetes achievable?Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, answered these questions and demonstrated techniques for implementing advanced scheduling. For example, using spot instances and co...