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APPLICATION COMPLIANCE MANAGER

ACM helps your firm automate the management of application compliance reviews. Be better prepared for audits from the data providers

All too often the management of market data application compliance reviews is a time consuming, ad hoc, manual process which requires a lot of work, particularly to match responses to your inventory.

Application Compliance Manager (ACM) is a new module in the MDSL product suite which integrates with Market Data Manager (MDM) to bring efficiency to the issuance, completion and management of market data compliance surveys. We have a standard set of customizable questionnaires which can be emailed out, in bulk if necessary, to nominated application owners.

The owners simply follow email links to the surveys that feature questions driven by your inventory data (for example, vendor names, services, users, install locations, business lines etc.). Application owners can attach supporting files and can pass the questionnaires onto other users if needed. Once completed, submission of the questionnaire passes it to a designated Administrator for review. You can schedule recurrences of the questionnaires for annual reviews to ensure continued compliance. ACM also features a customizable reporting model and web dashboards allowing you to create reports to assist with your compliance management and to prepare for vendor audits.

The Compliance Manager features a questionnaire engine which can also be used for additional use-cases such as reviewing Commission Sharing Agreements (CSA), Business Continuity planning, data security policies, contract renewals and more.

Application Compliance Manager assists with:

Current and historical reporting

  • Provide compliance review data for exchange audits (often contractually required)
  • Report monthly snapshots of entitlements for all applications (by individual login)
  • Ensure the bank is in the best position to respond to changes in exchange rules
  • Visualise the connections between the downstream and upstream applications using a service

Reviews of existing applications

  • Is data still being used in accordance with usage rights and restrictions?
  • Track changes which have been made to the data and to whom the data is made available
  • Investigate applications which are no longer in production

New application assessments

  • Send questionnaire to stakeholders to ensure data usage compliance
  • Ensure required licenses and entitlement reporting processes are in place before the application enters production

Task Management

  • Administrator bird’s-eye view of compliance survey completion status
  • Application Owners ‘To-do’ list of uncompleted compliance questionnaires
  • Automated email alerts to remind owners to use the tool

Application Compliance Workflow