July 14, 2026
Case Study: Automating Market Data Notification Management
commercial management

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Reducing Manual Effort Across Market Data Administration.

Data Notifications are a critical part of market data operations. Exchanges and vendors regularly issue updates covering pricing, permissions, licensing, policies, and product changes. Many firms still manage these notifications through manual processes involving emails, spreadsheets, ticketing systems, and workflow coordination, creating significant operational effort and increasing the risk of missed changes, compliance issues, and service disruption.


CJC’s Data Notifications Hub (DN Hub) was built to meet the real-world operational requirements of teams managing market data at financial firms of all sizes. The platform automates the ingestion, validation, impact analysis, and workflow management of exchange and vendor notifications, helping firms reduce manual effort, improve operational visibility, and strengthen control across the entire notification lifecycle.

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Key Challenges

Data Notifications sit at the centre of market data operations, yet teams still process them manually. Vendors such as Bloomberg and LSEG distribute quarterly notification packs that contain dozens of individual changes, each with separate documentation, RIC lists, and effective dates. Administrators must open each item, interpret the change, and track its implications for their own estate.

  • Fragmented Notification Review – Data notifications are distributed across PDFs, spreadsheets, emails, and vendor portals, making it difficult to assess changes efficiently.
  • Manual Impact Analysis – Teams must manually reconcile notifications against usage and permissioning data to identify affected users, applications, services, and entitlements.
  • High Operational Workload – Repetitive validation and reconciliation processes consume significant time and resources across every notification cycle.
  • Disconnected Approval Workflows – Stakeholder reviews, approvals, and operational actions are often managed through emails, spreadsheets, and ticketing systems with limited traceability.
  • Limited Visibility into Risk and Cost Impacts – Organisations struggle to identify pricing, licensing, and permissioning changes early, increasing the risk of missed updates, service disruption, and avoidable costs.

Together, these constraints create a slow and repetitive workflow that is subject to error-prone judgements at every stage.

CJC’s Approach: Inside DN Hub

DN Hub was initially built to meet the real-world operational requirements of CJC’s commercial managed service teams supporting the world’s largest financial institutions.

Within these highly complex market data environments, usage and permissioning files can contain thousands of users, applications, exchanges, services, PDPs, and RIC-level relationships across multiple platforms, including DACS and EMRS. Reviewing Data Notifications across estates of this scale has traditionally required significant manual analysis, spreadsheet reconciliation, and operational coordination.

DN Hub automates this process by ingesting exchange and vendor notification data, including quarterly and ad-hoc updates from providers such as Bloomberg and LSEG, and automatically comparing those notifications against client usage and permissioning data.

DN Hub Instantly Identifies:

  • Affected users and applications.
  • Exchange and product changes.
  • Pricing and licensing impacts.
  • Permissioning changes.
  • Policy and non-display usage impacts.

Platforms

  • Data Notifications Hub (DN Hub).

Client Requirements

  • Reduce manual notification processing.
  • Identify impacted users and services faster.
  • Improve visibility into licensing and cost changes.
  • Streamline approvals and operational workflows.
  • Reduce operational risk and service disruption.

CJC Services

  • Automated notification ingestion and validation.
  • Impact analysis against usage and permissioning data.
  • Workflow and approval management.
  • Cost, risk, and licensing visibility.
  • ITSM and ticketing integration.

Client Benefits

  • Reduced manual effort and reconciliation.
  • Notification reviews completed in seconds.
  • Faster identification of impacted users and services.
  • Improved visibility into cost, licensing, and operational impacts.
  • Reduced risk of service disruption and missed changes.
  • Better governance, auditability, and operational control.
  • Faster commercial decision-making.
  • Greater efficiency across market data operations.

Illustration A: Track pricing changes, identify affected users, and assess cost impacts.

The platform then presents the results through a structured operational workflow, enabling teams to review changes, assess impacts, coordinate approvals, and manage operational actions from a single interface.

DN Hub also introduces operational visibility and management reporting capabilities that traditionally did not exist within the notification process, including:

  • Severity and risk classification.
  • Cost change visibility.
  • Executive and management dashboards.
  • Search and lookup functionality across notifications and RICs.
  • Calendar-based visibility of upcoming changes.
  • Integration into ITSM, operational workflow, and ticketing platforms.
  • Auditability across notification actions and workflows.

The result is a platform that transforms a process traditionally measured in hours of manual operational effort into an automated workflow completed in seconds. 

Firms can utilise DN Hub either as part of CJC’s commercial managed service capability or deploy the platform internally within their own market data operations.

Outcomes: Operational and Commercial Benefits

Illustration B: Instant Visibility into Affected Users and Applications.

DN Hub has transformed the way CJC’s commercial managed service teams manage Data Notifications across market data environments of any size. Processes that traditionally required hours of manual spreadsheet analysis, reconciliation, and operational coordination can now be completed in minutes, with core notification validation workflows completed in seconds. This has significantly reduced the operational overhead associated with managing quarterly and ad-hoc exchange notifications across complex client estates containing thousands of users, applications, exchanges, and permissioning relationships.

By automating the comparison of exchange notifications against usage and permissioning data, DN Hub enables market data teams to:

  • Identify affected users and services instantly.
  • Prioritise operationally critical changes.
  • Reduce manual validation and reconciliation effort.
  • Improve operational response times.
  • Increase visibility across notification workflows.
  • Reduce the risk of missed changes and service disruption.

 

Illustration C: Overview of exchange product mappings, pricing details,
and billing information.

The platform has also introduced significant commercial management benefits, particularly around market data pricing and licensing changes.

DN Hub allows market data teams to proactively identify users, applications, and services impacted by exchange fee increases or licensing updates before those changes take effect.

This Enables Organisations To:

  • Remove unused or unnecessary services
  • Avoid avoidable cost increases
  • Improve visibility into licensing impacts
  • Engage business owners earlier in the approval process
  • Make faster and more informed commercial decisions

For clients, this has created measurable operational efficiencies and cost-saving opportunities across their market data environments.

 

"The Exchange Data Notification tool has transformed how we assess the impact of exchange changes. Rather than manually reviewing notices and tracing dependencies, we can now immediately identify affected clients and services, significantly reducing both effort and operational risk.”

- Jack Woodford, Project Team Lead, Commercial Management at CJC Ltd.

 

About CJC:

CJC is the leading market data technology consultancy and service provider for global financial markets. CJC provides multi-award-winning consultancy, managed services, cloud solutions, alert monitoring and observability, and commercial management services for mission-critical market data systems. CJC is vendor-neutral and ISO 27001 certified, enabling CJC’s partners the freedom to focus on their core business.

Email: marketing@cjcit.com
Tel: +44(0) 203 328 7600

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