Business Issues by okyestao

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									Business Issues
        Nick Merritt
   Program Director, FISD
      FISD Working Groups
• Audit
• Business Issues Policy & Procedures
  Standards (BIPPS)
• Derived Data and Non-Display Usage
• Service Level & Communications
• Billing and Invoice
• Anti-Piracy
        Audit Working Group
• Inaugural Meeting: 6 February 2008
• Focus is to create a document of BPRs
• Dealing with a number of issues
  – Auditors technical expertise and knowledge
  – Certification of third-party audit firms
  – Retroactive charges and credits
• Next Meeting: 18 March 2008
       BIPPS Working Group
• Largest FISD Working Group
• Covers the widest range of issues
• Recent focus on Fee Liability of Internal
  Administrative Usage of Data
         BIPPS Working Group
• Internal Administrative Usage of Data:
  –   Sales and Marketing
  –   Training
  –   Customer Support
  –   Technical Operations
  –   Disaster sites
• BIPPS Two Pronged Approach:
  ‫ ־‬Greater Transparency – survey of exchanges
  ‫ ־‬Best Practice Recommendation - developed
Derived Data and Non-Display
• Addressed by BIPPS and ad hoc group
• Complex issue
• Drafted Recommendations
  – Different levels of timeliness
  – Communication/transparency of Policies
  – Simple commercial terms and fee structures
  – Direct contractual relationships
• First meeting of new group
 Service Level & Communications
          Working Group
• Updated BPRs approved December 2007
• Available on our website
• Focus on communicating the new
  recommendations
Billing and Invoice Working Group

• BPRs approved 2Q 2007
• Available on our website:
  http://www.fisd.net/mdadmin/biwg_project
  06.asp
• Focus on communicating these new
  recommendations to vendors, exchanges
  and other invoice providers
   Anti-Piracy Working Group
• Formed in June 2007
• Focused on misuse and piracy of market data
• Targeted Audiences:
   – Inadvertent
   – Rationalizer
   – Malicious
• Directed Effort:
   – Education
   – Communication
 Nick Merritt

nmerritt@siia.net

+1.202.789.4111

								
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