Leo McBlain Accepts FISD Market Data Lifetime Achievement Award: Leo McBlain, former FISD Chair, accepted the award at the 2007 World Financial Information Conference (WFIC) in Newport. The award recognizes a long and distinguished career of contribution to the advancement of the financial information industry. Mr. McBlain’s career spanned numerous roles and leadership positions in the creation of the multi-billion dollar market data industry. FISD members voted from a slate of 4 candidates. The next award will be presented at the 2009 WFIC.

Volunteers Needed: Training and Certification Study Group The FISD Executive Committee recently created a Training & Certification Study Group that is open to all FISD members. In its preliminary discussions on these topics, there was a consensus among the Exec Committee members that there is potentially a great deal of value for FISD members in improving/increasing the training and certification opportunities offered to the industry. Further, the sense of the group was that FISD’s position as a neutral forum for the industry is compatible with it taking a role in activities like testing and certification for which integrity, neutrality, centrality and confidentiality are required.

The Exec Committee sees the next steps for the group as being (1) Development of the first draft of the knowledge base for a base-level credential and (2) the development of a broad "strawman" that shows the range of knowledge sets and competencies, beyond the base level, that could be subject to training, testing and certification. But the Executive Committee wants to solicit broader participation from the membership. Please contact Tom Davin (+1 202 789 4452) if you would be interested in participating in this new Study Group.

Market/Reference Data Training Courses:  FISD is hosting marketing data training in six locations for the remainder of 2006. The Market/Reference Data Training program is designed for anyone who is new to the industry and will provide the framework and key tools for understanding this complex business segment. The Re-Thinking Market Data Workshop is designed for seasoned professionals planning for the future and defining strategies, especially market data management and pricing.  Space is limited so we suggest you register quickly.

Singapore, October 30 & November 1
Sydney,  November 5 & 6
Chicago, November 29 & 30
London,  December 6 & 7
India (Mumbai & Hyderabad) December 11, 12 & 13

For course syllabus and registration visit: http://www.fisd.net/schedules/md_training.asp

FISD Issue of Upgrade Now Available: Annually the Upgrade Magazine dedicates an entire issue to financial information topics. The August/September issue which was distributed at the WFIC and mailed to all members can be found on line as well. Also note that there is now a standing column in all issues: Financial Information Perspectives. The June/July issue offers a frank discussion on licensing and pricing models and the October/November issue questions the transparency goals of the EU's Markets in Financial Instruments Directive (MiFID).   If you are interested in writing an article for Upgrade contact Elizabeth Cummings (+1 202 789 4452).

PacRim Consumer Constituency Groups Formed: FISD is hosting consumer constituency group meetings in Singapore on October 29 and in Sydney on November 5. Kathyrn Dunn of JP Morgan has agreed to Chair the Singapore Meeting while Dara Lyne of Macquarie will Chair the Sydney Meeting. For more information contact Tom Davin (+1 202 789 4452)


BUSINESS ISSUES AGENDA

Business Issues Policy and Procedures Standards (BIPPS):  The BIPPS Group met in New York and via conference call on October 9 and discussed several issues including:

   ● Usage of non-display and derived data: The group reviewed a list of recommendations regarding use of this data.  These recommendations were created by an ad-hoc group of FISD members representing consumers and data vendors.

   ● Unit of count: Discussion focused on a Nasdaq proposal submitted to the UTP Committee that would permit more direct reporting. Most meeting participants seemed excited and interested in the potential changes this would implement if approved.

   ● Audits: Issues discussed included the amount of time an audit period can cover, the possibility of certifying independent audit group(s) that would confirm and verify the technical aspects of the audit, and a proposal requiring data providers to publish their audit policies. 

   ● Internal Data Usage by Vendors/Consumers for product support, development, customer service: Most data subscribers are seeking consistency from data providers in this area.  Working Group members are submitting their suggestions for which policies are best regarding this issue.

The next BIPPS meeting is scheduled for the week of November 12 in New York.

Billing and Invoice Working Group: The Working Group is continuing outreach to the market data community regarding the Best Practice Recommendations.  The primary focus on educating the industry has been “one-to-one” communication between WG members and their industry contacts as well as presentations at WFIC and FISD General Meetings. Additionally, FISD staff is investigating direct contact with premier invoicing firms to solicit feedback and  encourage implementation of the recommendations.