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Case study · Investment bank

A unified operating model across three offices
on three continents.

A Tier-1 global investment bank had grown its market data operations organically across multiple geographies. Fragmented vendor management, inconsistent procurement, and no global view of cost or value. The Paraxis practitioners, in prior senior roles, were engaged to deliver a unified target operating model and a phased savings roadmap.

  • ClientTier-1 global investment bank
  • Scope3 offices, 3 continents
  • Engagement6 months
  • OutcomeUnified operating model across vendor management, procurement, and data infrastructure

The challenge

Three regions, three operating models, no global view.

A Tier-1 global investment bank sought to evaluate the cost and operational benefits of moving to a next-generation centralized market data function. The bank’s market data operations had grown organically across multiple geographies, producing fragmented vendor management, inconsistent procurement, and limited visibility into the true cost and value of its data spend.

  • No centralized view of market data consumption or vendor relationships across the bank’s global offices.
  • Procurement processes diverged by geography, duplicating effort and missing savings.
  • The technology infrastructure supporting the function had aged past its ability to satisfy evolving business, regulatory, and governance requirements.
  • Business units operated independently, with no shared demand-management discipline.
  • An assessment spanning three offices on three continents was required, with a view to a global roll-out.

How we approached it

An end-to-end market data transformation.

The senior practitioners undertook a comprehensive market data assessment encompassing vendor management, demand management, the procurement process, and the underlying technology infrastructure. Working from an end-to-end transformation model, the engagement delivered four core artifacts.

  • Current-state assessment

    Built an "as-is" model across all three geographies. Surfaced the requirements and pain points of each business unit through structured workshops and stakeholder interviews.

  • Global target operating model

    Consolidated the findings from three continents into a unified operating model satisfying business, technology, and regulatory demand worldwide.

  • Business value roadmap

    Built a phased transformation plan. Quick-wins identified and sequenced for immediate savings; medium- and long-term steps mapped to the eventual target operating model.

  • User-base evaluation

    Comprehensive evaluation of the active user base, providing the foundation for re-evaluating every vendor contract and right-sizing agreements on actual usage rather than the headcount the contracts assumed.

The result

A global operating model and phase-one savings.

In six months, the team delivered a comprehensive assessment of current issues, target business objectives, identified opportunities for improvement, and a business case with implementation options. Phase one consolidated the fragmented vendor management across the three regions, rationalized user entitlements to the actual consumption profile in each office, and re-sized contracts against measured usage — taking material cost out of the operating budget while preserving mission-critical access. The client engaged a separate firm to run phase two of the transformation, building on the foundation the team left in place.

  • ConsolidatedPhase-one vendor management across regions
  • 6 monthsComprehensive assessment delivered
  • 3Continents assessed in one engagement
  • GlobalTarget operating model defined