Market data compliance · for compliance, procurement & market data teams
Vendor contract compliance
you can prove.
Contract compliance for market data means showing that your real use of each vendor feed matches what you are entitled to: the right users, applications, sites and redistribution rights. Firmfact keeps entitlements, usage and cost in one place with an audit-ready history, so you prove it from facts you already hold instead of rebuilding them the week an auditor asks.
What it covers
Market data compliance, held in one place
Vendor contract compliance falls apart in the gaps between the contract, the invoice and who is actually logged in. Firmfact keeps those together.
Entitlement tracking
Hold what every contract entitles you to (products, quantities and the users and applications they are assigned to) next to the cost and the contract that sets the terms, so an entitlement is a documented fact, not a memory of last year's negotiation.
Usage-rights monitoring
Reconcile who is actually using each feed against what the licence permits, so over-use and unused entitlements both surface before they become a finding or wasted spend.
Exchange declarations
Firmfact tracks each venue's declaration deadline and builds the declaration from your subscriber inventory: Nasdaq's VRXLS workbook, Euronext's Excel template, CME's VRXML file and a clean Excel table for the other venues. Deadlines and portals for 14 venues are in the exchange reporting directory.
Audit trail
Every change to a contract, entitlement or allocation is kept with its date, and you can view the position as of any past date, so “what did we hold, and when” has an answer you can show.
The problem
Proving compliance from spreadsheets is a scramble
When a vendor audit or an exchange declaration lands, the questions are specific: how many users had access to this feed, on which applications, at which sites, and under what redistribution rights, last month and last year. If entitlements live in one spreadsheet, usage in another, and the contracts in a shared drive, answering means reconciling three out-of-date sources under time pressure.
Exchanges invoice from your declarations, so a late or wrong declaration is a finding in its own right. Declare from the subscriber inventory you already keep, and the numbers you declare are the numbers you can show. Market data compliance is really the discipline of keeping usage and entitlements reconciled, continuously rather than once a year when someone asks.
Audit trail and European hosting
A market data audit, answered from history hosted in Europe
Firmfact keeps every change to a contract, entitlement or allocation with its date and lets you view the position as of any past date, so the answer comes from evidence rather than reconstruction. It runs on EU-primary infrastructure hosted in Germany, with AI processing kept to EU-first sub-processors.
More on security and European infrastructure.
Part of the platform
Compliance draws on the same facts
Contract compliance, answered
What is market data contract compliance?
Market data contract compliance is proving that your actual use of each vendor feed matches what your contract entitles you to: the right number of users and applications, the permitted sites and the agreed redistribution and display rights. Firmfact keeps entitlements, usage and cost in one place with an audit-ready history, so compliance is something you can show rather than reconstruct.
How does vendor contract compliance work in firmfact?
Firmfact holds each vendor contract with its entitlements, ties usage and invoices back to it, and keeps every change with its date. When a vendor or exchange asks who used what, under which rights and what it cost, the answer comes from those facts and the contract itself (including the position as of any past date) instead of an email trail and an out-of-date spreadsheet.
Can firmfact help prepare for a market data audit?
Yes. Audits turn on defensible history. Firmfact keeps an audit-ready history of contracts, entitlements, allocations and corrections, so you can answer exchange declarations and vendor questions with evidence that is current rather than rebuilt after the request arrives.
Does firmfact monitor usage against entitlements?
Firmfact reconciles the usage you track against the entitlements on each contract, so both over-use (a compliance risk) and unused entitlements (a cost worth questioning at renewal) become visible. It is designed to support the review, not to replace your licensing judgement.
Is firmfact suitable for a regulated firm's compliance review?
Firmfact is built for finance, procurement, and market data teams at regulated firms: least-privilege roles, an audit trail, EU-primary hosting in Germany, and security documentation available for vendor review. It supports your compliance obligations; it does not certify them on your behalf.
Prove compliance from the facts
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