Awards 2026 winner
Firmfact wins Most innovative market data project/initiative at the Inside Market Data & Inside Reference Data Awards 2026.
Read about the awardMarket data cost & contract management
Every contract, invoice and allocation in one place, with the full history of what changed and when. So when a renewal approaches, an invoice needs reconciling or a declaration falls due, firmfact already has the facts and prepares the work, and your team starts from a finished draft instead of a data dump or a blank spreadsheet.
No trial clock. Production plus a Demo workspace.
Why market data is hard
Contracts are written to resist comparison. Invoices arrive in formats built for anything except reconciliation, and the licences themselves define usage in terms only a specialist can parse, with definitions that shift at every renegotiation. Buy ten laptops and you know exactly what you own. Buy a real-time feed with derived-data rights across three legal entities, and you need an expert to tell you what you just signed.
One function carries all of it: keeping the entire firm compliant with terms most colleagues have never read, and translating between vendors who profit from complexity and users who just want the data. The same team controls costs that finance can't see and procurement can't benchmark. That is skilled work, and most of it disappears under administration.
Our point of view
Most firms still staff it like back office. Yet the role runs on things software can't hold: the knowledge of what every licence actually permits, the vendor relationships built over years, the judgement to know when a renewal is an opening and when it's a trap, the standing to tell a trading desk no. The software's job is to protect that time. Firmfact keeps the facts current and automates whatever repeats, and it prepares each next step so the team's hours go to the work only people can do.
Document inbox
Every account gets its own inbox address. Forward an invoice, contract or statement, attachments and all, and it is read into line items and amounts, matched to the right contract. No manual entry, and nothing changes until it is published.
How document intake worksHow it works
Everything starts with an accurate inventory, kept current by the system itself. Documents of any kind (contracts, invoices, HR files, vendor user lists, renewal and order forms) are forwarded once and land as structured, matched data, and a person reviews each change before it is published, unless you choose otherwise for a sender you trust. From there, firmfact knows what's coming and preps it.
Long before the notice period, the pre-renewal picture is ready: the current costs and how the contract is changing, plus whatever the vendor is proposing. With firmfact's end-user module, Front Desk*, the business will review and decide (renew, change or accept), and the outcome flows through to every report with the correct effective dates.
Forward it to your account's own inbox address. Clean matches need only a short review, no changes. A variance comes back as a precise call to action instead of a research project, and the system gets better with every cycle.
Usage declarations follow the data provider's format, not yours. Templates for major exchanges are predefined and the monthly files are generated from the inventory you already maintain.
HR roster and identity feeds turn personnel change into inventory action. Joiners can have orders raised before day one, movers are flagged when they move to another organisational entity, and a leaver's licences come with cancellation advice that has already read the contract.
Dashboards and delta reports show what moved (price changes, people moves and allocation shifts) so the month-on-month conversation starts from evidence instead of archaeology. Budgets reconcile in-year against the same facts.
Whatever comes next, the data is already in shape for it, and the first draft of the work is already done.
What's inside
The AI gets the attention; the engineering does the heavy lifting. Changes carry effective dates, past and future, and calculations stay current rather than waiting on overnight batches. And it is fully scriptable: API, MCP and CLI. That foundation is what makes the automation dependable.
Checks agreements against what should be in them, DORA included, instead of only extracting what the vendor wrote.
Allocation down to user level with inherited cost centres; spare and unallocated licences tracked, with live recalculation rather than overnight batches.
Line-level matching with explained variances, and a comment on the audit trail whenever a difference is accepted, so the system stays the source of proof.
Next year shaped from captured contract terms and trends, then reconciled in-year against actuals at the level finance needs.
Month-on-month views plus exchange declaration templates, with dashboards that surface the next actions for that part of the job. Structured data is yours to take: reports and exports on every plan, and your own workspace's data over the API, MCP and CLI from Professional up.
Demand governance for market data (Enterprise Plus, early access): requests and approvals routed through your organisational structure, with approval steps you configure and self-certification campaigns included.
Personnel change turned into inventory action from HR roster and identity feeds, while the moment is still warm.
Pre-mapped vendors · HR, ERP & identity Pre-mapped vendor and exchange products (Bloomberg · LSEG · FactSet · S&P · ICE · CME) and imports from the HR, ERP & identity systems that already hold your people and organisational structure.
The people you answer to
Finance, procurement, users and compliance each get a view that starts from the answer they need, not a data dump they have to rebuild.
Month-on-month views and budget versus actuals straight from the contracts and invoices behind them, with invoice statuses that drive the next payment step.
Walks into a renewal with the picture already built: spend history, contract shape and vendor increases. With Front Desk*, the business's own feedback will be collected before the notice period too.
In Front Desk*, they will see every contract they're exposed to, with the latest terms and upcoming dates, and order within their profile.
Agreements are checked at intake against what should be in them. Every accepted variance carries a comment on the audit trail. Declarations come out in the venue's own format for Nasdaq, Euronext and CME, and as a clean Excel table for the other venues.
AI where it solves the problem
AI reads the documents, structures the invoices, explains the variances, and preps the next step, on top of a data model built to carry it. You see the results everywhere and the label almost nowhere.
AI
Forward it once and it arrives read and matched: contracts, invoices, HR lists and renewal forms, as structured data ready for a short review.
AI
Ask about a contract term or a cost driver and get the answer in context, without leaving the workflow.
AI
An MCP endpoint connects Claude or another AI assistant that supports remote MCP servers to live, account-scoped cost and contract data. It takes one URL, and your access rules still apply.
AI chat sidebar
Ask for cost drivers and contract details without leaving the workflow.
Now in Claude's Connectors Directory
Add firmfact to Claude from the directory, sign in with your firmfact account, and ask about your vendors, contracts, allocations and spend. Claude sees what you can see, and nothing more.
Clear for humans. Structured for AI-assisted research.
Researching software with ChatGPT, Claude, or Perplexity? We publish machine-readable documentation, including our public pricing page, so your AI assistant can accurately answer questions about plans, features, security, and APIs.
Who you're working with
The software automates the administration. It does not replace showing up. We build long-term partnerships and listen before we configure, and the measure we hold ourselves to is whether you reach the goals you bought the software for. Transparency is where a partnership starts, which is why our pricing is published on this website for everyone to see, before a single call.
“I have been building software in this industry since 2001, long enough to know what works and what quietly rots a system until every change takes a quarter. Firmfact is my answer to that: innovate where it matters and simplify everywhere else, so the software lasts and delivers value from day one.”
Enterprise trust
Costs trace back to the contracts and invoices behind them, accepted variances carry a comment, and every change keeps its date, so an auditor's question already has an answer.
SSO (SAML 2.0 and OpenID Connect) with SCIM provisioning from Enterprise up, tenant isolation, compliance documentation and access patterns designed for teams at regulated firms.
EU-hosted primary infrastructure with AI processing aligned to EU-first sub-processor choices.
Track vendor costs in native currency and consolidate them accurately for finance, procurement, and reporting.
Go deeper
One place for contracts, invoices, cost allocation and audit-ready history across vendors and exchanges.
Forward invoices, contracts and statements to your account's inbox; each is read, matched to its contract and prepared for you to publish.
Track entitlements, usage rights, and vendor contract compliance, and stay ready for declarations and audits.
See total market data spend, allocate it to the right cost centre, and explain every line to the people who pay for it.
Know who is using what, under which rights, and reconcile usage to entitlements to avoid over-licensing.
Nine practices for golden sources, ownership, identifier mapping, lineage, and audit trail: a practitioner guide.
Declaration deadlines, file formats, and reporting portals for 14 trading venues in one reference table.
Common questions
A cost and contract management system for market data. It captures what a firm has agreed with its vendors and who holds every licence, with far less effort than usual, and then prepares whatever needs to happen next: the renewal, the reconciliation, the declaration, the report.
Most tools in this category store what happened, and the effort goes into capturing that data rather than using it to create value. Firmfact inverts that: capture takes far less effort, and the system spends the rest preparing what happens next.
Migration is where the foundation pays off first. The data structure is built to hold history, so your historical data moves over with its dates intact, while document intake reads the agreements themselves and keeps every relevant detail captured and current. And if you would rather not run the move yourself, we offer it as a guided implementation project: we load your contracts, invoices, and history with you, and you verify the result before switching over.
Firmfact publishes pricing in full, including the free tier, at https://firmfact.com/pricing: monthly list prices for every tier, with contract length selectable before you commit. Signup includes a Production account for real setup and a Demo workspace with clearly marked sample data.
On EU-hosted infrastructure with EU-first sub-processors, under Dutch law. Details at https://firmfact.com/european-infrastructure, with the full documentation available for download after account creation.
Yes. Firmfact exposes a Model Context Protocol (MCP) server at /mcp that works with any AI assistant that supports remote MCP servers, Claude among them. Claude, Claude Code and the firmfact CLI sign in with OAuth, and you approve which account they may access; other MCP assistants connect with an API token. AI agents can list vendors, query contracts, analyse cost trends and ask questions about your workspace, all scoped to your account. Connecting your own account's data needs a Professional plan or above. You do not need to wait for that, though: every signup includes a Demo workspace with clearly marked sample data that is connectable over MCP on every plan, including Starter, so you can evaluate an AI client first.
A general assistant sees the documents it is given, not the history behind them: which terms applied when, what changed at renewal and who held which licence. Firmfact holds every licence, contract, invoice and allocation with its full history, so a question like "what changed on the Bloomberg renewal since last year" is answered from the contract and invoice history, not from a summary someone made earlier. Every answer is scoped to the account and to what the person asking is allowed to see. And if your firm already has an assistant it trusts, you do not have to swap: connect it over MCP and it reads the same account-scoped data instead of a copy.
In Europe. AI-assisted features, including reading documents on upload and the chat, run against Mistral AI's EU regional endpoint, which serves requests from EU and EFTA data centres. Zero data retention is enabled on our account, so the provider does not keep request or response content once a request is processed, and the provider-side training setting is disabled. Storage locations and credentials are never handed to the provider. The provider is named in our Data Processing Agreement, which you can download without an account.
See it with your own data
Most providers in this space won't show you the product without a sales call. Many won't even publish a price. We do both. The free tier has no trial clock and covers the daily core: contract intake, invoice matching, allocations, and the AI that reads your documents. API and MCP, SSO, and Front Desk are on the paid tiers, with their prices published too. Set up an account in minutes and run it on your own; dropping in a real contract is a great first step. Prefer company? Book a walkthrough and we'll do it together.
No trial clock. Production plus a Demo workspace.
* Front Desk is part of Enterprise Plus and is in early access.