Chart your market data estate.
Subscriptions, vendor contracts, invoices, entitlements, compliance and renewals for buy-side firms, in one unified view, with AI built into the workflow.
Few buy-side firms have a clear, complete view of their market data spend.
Market data is one of the largest controllable costs on the desk, and one of the least visible. The contracts are opaque by design, and the knowledge usually lives in one person’s head or a sprawl of spreadsheets.
Opaque spend
Vendor contracts bundle terminals, feeds, exchange fees and non-display licences. The true cost per desk, per user, per vendor is rarely clear.
Missed renewal windows
The critical date is not the contract end, it is the notice deadline. Miss it and the agreement auto-renews for another full term.
Cost leakage
Spend creeps up through duplicated data, unused entitlements, and fees that outlive the people who needed them.
Compliance surprises
Entitlement and usage breaches surface during a vendor audit, after the exposure has built up, not before.
The incumbents were never going to fix this.
Vendors profit from the opacity.
Bloomberg and LSEG sell data. A tool that helps you optimise spend, catch auto-renewals and cancel on time works directly against their commercial interest.
Enterprise tools target tier-one banks.
The incumbent platforms are built for institutions with 500+ users and six-figure implementation budgets. The APAC mid-market buy-side is unserved at a price point it can afford.
The knowledge is scarce.
Modelling market data correctly, including permissioning hierarchies, per-terminal contracts and cost-leakage risk, takes decades of domain experience most software teams do not have.
Six functions, one source of truth.
Inventory
Every subscription and entitlement in one live view, with cost roll-ups by desk and vendor.
Built to model market data correctly.
Generic spend-management tools treat market data like any other vendor line. Compass models the structures the major vendors keep deliberately complex: the detail that determines what you actually owe and where you are exposed.
Vendor contract hierarchies
LSEG’s RMA, Schedule and Order Form structure and Bloomberg’s per-terminal contracts, each with its own dates and notice window, modelled as they really are.
Child subscriptions
Exchange fees, news feeds and add-on data modelled beneath each entitlement, with their own billing type, vendor and lifecycle. Compass knows which survive a cancellation and which do not.
User and application entitlements
A trader’s terminal and an algo engine’s data feed are commercially different things. Compass models both, so per-user seats and per-application licences are tracked correctly.
Notice-deadline logic
Every contract’s true decision date, the end date minus its notice period, is tracked and surfaced, so renewals are a choice, not an accident.
Not a chatbot bolted on the side.
The Compass Assistant sits inside the workflow with direct access to the data model. It answers operational questions in plain language because it understands the domain.
Question: Are we tracking over budget on market data this year, and where is the variance coming from? Answer: Bloomberg, terminals added, +$84k. LSEG, DSS fee uplift, +$31k. FactSet, new analyst seats, +$13k. Forecast vs budget: +$128,000 (4.2% over)
Illustrative. Demo data shown.
Two ways to engage.
For firms with someone running the market data function in-house.
Full access for your team, with AI-assisted compliance and renewal tracking. We onboard, import your data, and keep it current. You operate it.
We run the function for you.
Your outsourced market data function: vendor management, renewals, invoice verification and compliance. Everything in Compass, included. You retain every decision.
Why Sprada.
No data to sell
Sprada has no market data product of its own. We win when you spend less, so incentives align with yours, not the vendors’.
30 years in the function
Built by someone who has managed market data for banks and asset managers across the region.
Built for APAC
SGX, HKEX, ASX, regional exchange fees and local currency, built for how this region works.
Vendor-agnostic
Bloomberg, LSEG, FactSet, ICE and exchange fees in one honest view, with no vendor bias.
Compass Benchmark
Compass Benchmark is coming: independent product intelligence and benchmarking across the major market data vendors, built into Compass as an optional module.
Register interestSee it working in a realistic inventory.
Compass demonstrates best against a real situation. A 45-minute walkthrough is usually enough to know whether it fits your firm.