Crown Jewels Consultant Ltd (CJC), the award-winning market data professional services and commercial management provider, is pleased to announce its partnership with Digital Rights for Data Management (DRDM), a distributed ledger technology (DLT) powered solution that transforms market data management by turning static data contracts into dynamic and actively manageable assets in real-time.
DRDM’s DLT-powered technology raises the bar for compliant data management and marks a first in the industry, addressing the critical challenge of unrecovered fees in data publishing. The solution removes the ambiguity of paper market data contracts, reducing the deployment time of new offerings, and protects the data publisher’s rights and revenue while reducing the data subscriber’s required resources and regulatory burdens.
The DRDM DLT solution is straightforward to deploy with a minimal technology footprint, no impact on data latency and requires no reengineering of existing systems. It allows live contract inspections. DRDM’s Digital Contract Network (DCN) is an immutable single source of truth that enables comprehensive traceability and ensures rigorous compliance across the entire market data community. The solution ensures that every piece of data can be accurately tracked, verified, and managed, which safeguards integrity and value in real time.
Alan Ross, CEO & Co-Founder at DRDM, with over 30 years of experience in the capital markets, said, “We have created a pioneering technology platform to revolutionise how data providers manage and track their contract utilisation. For the first time, contracts are dynamic, living assets that can be continuously monitored and audited in real time. This breakthrough ensures that every contract is not just a static document but an active, compliant asset in the data ecosystem.”
Paul Gow, Chief Executive Officer at CJC, said, “Data fines have been the bane of financial institutions' lives for many years, DRDM makes these fines a thing of the past. CJC is now helping our clients become compliant by digitising their data contract, which in turn reduces administrative overheads”
