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Belfast, Northern Ireland-based Axon Financial Systems, a provider of exchange policy and licensing information, has launched a new product, ADP (Axon Declaration Portal), which streamlines the collection of market data usage declarations within a single on-line portal.
“The Axon Declaration Portal is a natural addition to Axon product suite given our expertise and experience of producing and submitting market data declarations on behalf of consumer firms.” Says Axon’s co-founder and chief executive, Chris Hutton.
Steve Cowler, COO at Axon says “Axon created ADP to simplify the collection and management of market data usage declarations as there is currently no standard method for exchanges and vendors to collect this information. For many, the current process of collecting this data typically involves an inefficient process of spreadsheets being sent back and forth via email which need to be collated and reconciled with a central billing system.” In contrast, he says, “We’ve developed a simple, yet very effective browser-based entry form, removing the need for email-based declarations. This eliminates the time-consuming process by minimising manual intervention and therefore improving accuracy throughout the whole process”
ADP allows users to submit their monthly declarations to an exchange or vendor in a matter of a few clicks. Automated reminders and requests at various stages of the declaration process are sent via email, such as the declaration open and close date, thus streamlining the whole process and making it more efficient.
Through the ADP administration portal Exchanges and vendors are provided with an instant overview showing the status of all their client declarations, both current and historic, enabling them to carry out a trend analysis. All client declaration data is consolidated in an auditable, secure central database which can be used to feed the billing process, improving accuracy.
“In summary ADP is a reliable cost-effective solution that allows exchanges and vendors to provide their clients with a straightforward declaration process.” says Axon’s chief operating officer Steve Cowler.
