London – Reuters (LSE: RTR; NASDAQ: RTRSY) today announced it is offering Open DACS for the first time as an extension to its Data Access Control System (DACS). Open DACS gives firms a single consistent means to control and report on the use of chargeable data within their organisations, wherever it is used.
The London Stock Exchange has already welcomed the move as a means of offering clients a way of managing their data more effectively. Open DACS prevents costly data contract infringements by ensuring individuals only receive the data they are already permitted to use. It also gives enterprises robust control over the distribution of data with full reporting and audit facilities to help monitor it.
Michael Parlapiano, Reuters Global Head of Information Management Solutions, said: “Major financial enterprises can easily infringe data rights inadvertently if they do not have close control over how data is consumed within their organization. Global exchanges are increasingly keen to ensure that clients meet their data charges. Open DACS offers complete control over all the data coming into an enterprise for the first time.”
Colleen Dennis, Head of Market Data Audit at the London Stock Exchange, said: “Open DACS is an important tool to help organizations manage their internal redistribution of chargeable data. Data and contract management is increasingly demanding for our clients and we welcome Reuters Open DACS as a means of assisting firms.”