I decided against splitting this into Parts 1 and 2 - ofcourse you can always watch in two parts. Time stamp is 31:25

Tim's LinkedIn https://www.linkedin.com/in/tim-baker-fintech-venturing/

Summary
In this engaging conversation, David Anderson welcomes back Tim Baker, the first returning guest on the podcast. They discuss the evolution of the podcast, the launch of Tim's new venture, Via Nexus, a marketplace for market data aggregation, and the transformative role of AI in the industry. The conversation also delves into the ongoing CUSIP legal case and its implications for the market data landscape, highlighting the challenges and opportunities that lie ahead.
Chapters
00:00 Welcome Back: The Podcast Journey
07:35 Introducing Via Nexus: A New Business Model
28:30 The Future of Market Data: AI and Innovation
31:44 The Evolution of AI in Market Data
34:32 Understanding Agentic AI and MCP
40:19 Challenges in Data Normalization and Licensing
45:05 The Rise of Agentic AI Applications
50:53 The Future of AI in Business and Licensing
53:20 CUSIP Legal Case Update and Industry Implications

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

https://www.linkedin.com/in/sally-huxtable-b8703817/
https://www.linkedin.com/in/trish-gooch-2ba34649/

Summary
In this conversation, David Anderson engages with market data experts Sally Huxtable and Trish Gooch from Exchange Audits to explore the complexities of auditing in the market data industry. They discuss their extensive backgrounds, the evolution of audits, the importance of data governance, and the practicalities involved in conducting audits. The conversation also touches on the various tools available for market data management, the future of digital rights management, and how firms can prepare for audits effectively. The experts emphasize the need for better communication and collaboration between exchanges and firms to streamline processes and improve compliance.

Takeaways
Sally and Trish have over 70 years of combined experience in market data.
Audits focus on compliance, transparency, and accuracy in data usage.
The nature of audits has evolved from vendor-focused to end-user audits.
Data governance is crucial for compliance and effective audits.
A well-organized firm can significantly reduce the time taken for audits.
Market data tools are essential but often lack integration.
Digital Rights Management (DRM) is still developing in the audit space.
Firms should maintain clear documentation of their data usage and permissions.
Enterprise licenses can simplify compliance and reduce audit frequency.
Building direct relationships with exchanges can enhance understanding of policies.



Chapters

00:00 Introduction to Market Data and Guests
02:45 Backgrounds and Experience in Market Data
05:48 Understanding Audits in Market Data
08:44 The Evolution of Audits Over Time
11:41 The Importance of Compliance and Governance
14:47 Types of Audits and Their Execution
17:47 The Role of Third-Party Auditors
20:46 Practicalities of Conducting an Audit
23:52 Tools and Technologies in Market Data Auditing
26:32 Challenges in Market Data Compliance
29:57 Mapping and Taxonomies in Market Data
31:41 Navigating Market Data Challenges
34:50 The Role of Digital Rights Management
38:46 Understanding Compliance and Licensing
42:34 Preparing for Audits Effectively
50:34 Future Directions in Market Data Management

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

https://www.linkedin.com/in/jamesskippywatson/

Summary:
In this conversation, David Anderson speaks with James Watson about his extensive experience in the financial industry and the evolving landscape of market data pricing and sales strategies. They discuss the need for fairness in pricing, the importance of building relationships in sales, and the value of leveraging experience in the workforce. Watson emphasizes the significance of trust and understanding the audience in sales, as well as the benefits of intergenerational teams in fostering innovation and resilience. The discussion highlights the challenges faced by older employees in the job market and the need for organizations to recognize and utilize their expertise.


Chapters:
00:00 Introduction and Background of James Watson
02:39 The Role of Data in Financial Markets
05:54 Modern Pricing of Market Data
08:47 Fairness in Pricing Models
11:54 Value-Based Pricing vs Cost-Based Pricing
14:45 Sales Techniques in Market Data
17:34 Building Relationships in Sales
20:42 Investment Mindset in Data Pricing
31:34 Understanding Cost vs. Investment
34:44 The Importance of Quality Data
35:59 The Role of Specialists in Sales
39:26 Tactical Sales Plays
42:28 Leveraging Experience in Sales
46:36 The Value of Intergenerational Teams
49:40 The Need for Knowledge Transfer
55:18 Reevaluating Hiring Practices

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

https://www.linkedin.com/in/guptahim/
https://solace.com/

Summary:
In this conversation, David Anderson speaks with Himanshu Gupta from Solace about the evolving landscape of market data, the role of event brokers, and the challenges faced in capital markets, including latency, volume, and fairness. They discuss the importance of quality of service in messaging solutions, the competitive landscape including Kafka, and the significance of specialization in financial services. The conversation also touches on the role of hardware in low latency solutions, cloud adoption, and the impact of AI and automation on market data processes. Finally, they explore Solace's innovations, including the Solace Agent Mesh, and the future of market data and managed services.

Chapters:
00:00 Introduction to Himanshu Gupta and Solace
02:45 Market Data Distribution and Technology Stack
05:52 Understanding Event Brokers and Middleware
09:06 Challenges in Market Data: Latency, Volume, and Fairness
12:01 Quality of Service: Speed vs. Reliability
14:59 Competitive Landscape in Messaging Solutions
17:51 Kafka vs. Solace: Understanding Different Messaging Solutions
21:01 The Importance of Specialization in Capital Markets
23:50 The Role of Hardware in Low Latency Solutions
26:47 Cloud Solutions and Their Fit in Market Data
29:23 Deployment Preferences in Cloud Infrastructure
35:48 Navigating Cloud Migration Challenges
52:01 The Future of Market Data and AI Integration
58:04 The Impact of AI on Job Markets and Future Generations

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

I hasten to emphasise that this is not a point of view video. It is me leveraging some AI tools to first research the issues and then using AI to produce some short video explainers. Please jump in and comment on the content of this episode but also provide comments on this format. In hindsight I wished I had spoken a bit faster but in future videos with just me talking I now know how to speed that up (should I?). You the audience can adjust the speed that you watch or listen at.

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

I STRONGLY recommend listening at 1.5 or 1.8 or even 2.0 speed. I was filming without a script and hence spoke quite slowly. I will endeavour to get better (ie faster) at that.

As previously announced, I am now publishing full episodes monthly on the first Tuesday of each calendar month. Full episodes continue the approach of David Anderson in discussion with guests from the wider market data industry.I will publish occasional ‘special’ episodes like this in between main episodes.

This episode focus on how the industry can help its members to acquire more industry knowledge. And in the spirit of full disclosure, it’s a flagrant sales pitch by David Anderson for my TRAINING SERVICES. This podcast currently makes no money, so training is a useful top to my pensions as I am in this semi-retirement phase of my life after 41 years working in market data.

If you yourself and your firm are interested in my training, please get in touch on david.anderson@atradia.com or please help me spread the word. As mentioned in the recording I am teaching to the FISD FIA syllabus and exam but I am also very open to discussing ‘bespoke’ training tailored to more specific needs.

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

(11) Kevin Gower https://www.linkedin.com/in/kevingower/| LinkedIn

summary
In this conversation, David Anderson interviews Kevin Gower, exploring his extensive background in market data, the evolution of data management systems, and the future of market data engineering. They discuss the importance of understanding data management, the role of DAX, and the challenges of legacy systems. Kevin emphasizes the need for market data engineers to adapt to new technologies and the opportunities that arise from the changing landscape of market data.

takeaways

• Kevin Gower has a diverse background in market data, spanning multiple countries and roles.
• Occasional Digest started as a solution to market data issues related to public holidays.
• Advisory roles in DAX focus on changing perceptions of data management.
• DAX should be viewed as a data management tool rather than just a permissioning system.
• Understanding data usage is crucial for cost management in market data.
• The Advanced Transformation System (ATS) is underutilized in its capabilities.
• Market data engineering is shifting from plumbing to analytics and data management.
• There is a shrinking pool of market data engineers, raising concerns for the future.
• Legacy systems pose challenges, but compelling events can drive change.
• Opportunities in market data are abundant for those willing to adapt.

titles

• Navigating the Market Data Landscape with Kevin Gower
• The Evolution of Market Data Engineering

Sound Bites

• "I see those as opportunities, not threats."
• "The compelling event is what drives change."
• "Learn the products, learn the data."

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/

https://www.linkedin.com/in/imcintyre/
https://www.pico.net/

Summary
In this conversation, David Anderson interviews Ian McIntyre from Pico Trading, exploring the multifaceted world of market data and trading technology. They discuss Ian's extensive background in the industry, the diverse services offered by Pico Trading, and the importance of low latency in market data. The conversation delves into the nuances of direct connectivity versus aggregated data vendors, the role of colocation, and the impact of emerging trends in fixed income markets. Ian shares insights on telecommunications, the significance of network observability through Corval, and the evolving landscape of cloud and AI in market data. The discussion also touches on operational resilience and regulatory compliance, highlighting the challenges and opportunities within the industry.

Takeaways
Ian McIntyre has over 20 years of experience in market data.
Pico Trading offers diverse services including hosting, connectivity, and trading technology.
Low latency is a critical factor in market data and trading.
Direct connectivity can reduce costs for clients compared to aggregated vendors.
Colocation provides efficiency and cost-effectiveness for trading firms.
Pico is not a member of exchanges but facilitates client access to them.
The fixed income market is seeing increased demand for low latency solutions.
Corval enhances network observability and troubleshooting for clients.
Cloud technology is beneficial for historical data but poses challenges for low latency.
Regulatory compliance, such as DORA, is becoming increasingly important for market participants.

Chapters
00:00 Introduction to Ian McIntyre and Pico Trading
03:51 Overview of Pico Trading's Services
08:12 Understanding Low Latency in Market Data
12:35 Direct Connectivity vs. Aggregated Data Vendors
18:20 Role of Colocation in Trading
18:53 Pico's Position in Exchange Membership
21:48 Trends in Market Data and Trading Technology
23:12 Emergence of Low Latency in Fixed Income Markets
29:10 Telecommunications and Direct Connectivity
30:11 Pico's Network and Extranet Solutions
33:46 Redline and Its Role in Market Data
39:03 Corval: Network Observability and Monitoring
42:47 Cloud and AI in Market Data
55:40 Operational Resilience and Regulatory Compliance

DAVID ANDERSON -- https://www.linkedin.com/in/atradia/