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MARKET DATA VENDORS



CORE performs complex data usage audits of multinational financial services companies ranging from
commercial and investment banks to asset managers and brokerage firms, identifying and tracking
global use and redistribution, and ensuring the licensees' compliance with their operational and financial
obligations.

We take the time to understand your business, your contracts, and your compliance concerns both
generally and specifically. We keep you advised at every stage of the engagement. We know that timely
and effective communication is vital.

Our structured methodology enables our clients to manage their portfolio of licenses, improve their
confidence in the information exchanged with licensees, and recover revenue misstated in self-reporting
statements, while maintaining their valuable relationships with their business partners.

The objectives of a Contract Compliance Review are to confirm that:

• Restrictions on use and access have been observed
• Appropriate data controls have been implemented
• Fees have been accurately determined and are commensurate with the value of the usage
• The client has fulfilled their reporting requirements

We make sure that your clients understand, from the initiation of the engagement, that it is a best-practice activity to perform compliance reviews. Accordingly, it is our goal is to analyze how they access, store, use, re-distribute, and protect the data. If the parties to the contract clearly understand the objectives of the review and work within mutually agreeable timelines, the end result will be a success for everyone. We begin the engagement by taking the time to thoroughly understand your license agreement because it is the license that provides the framework around which the parties' relationship is formed. We then send an initial Information Request listing documents and responses to be provided by the client. The requests focus on all areas of the business and enable us to familiarize ourselves with their products, services, and operational processes and procedures in advance of the examination. We perform an in-depth analysis of the data and documents that we receive, identify any additional information or documentation needed, and provide an indication of what needs to be available for the auditor's examination and testing during the on-site review, and how much time may be required. During the on-site meeting we speak extensively with key personnel and observe demonstrations of internal processes and business activities supported by your data throughout the organization: where it is stored, who has access to it, how it is accessed internally and externally, how it is used and for what purpose, and what processes and procedures are in place to protect it. During the review we provide feedback in real time. Once the examination is complete, we prepare a detailed written report.

Our final reports provide documented non-compliance findings and noteworthy business issues to help you recognize the need for remediation, enhanced internal controls and improved contract language. This may result in the realization of additional revenues as well as the recovery of underpayments for prior usage. However, it may also simply provide the assurance you require to ensure your intellectual property is being used and protected appropriately.