Reuters today launched a bid to add transparency to the process of measuring market data usage. Software applications which have met Reuters’ qualification criteria will be permitted to display a ‘Reuters Open DACS Enabled’ label. This label will be accepted by leading exchanges as evidence that organisations are taking credible steps to ensure their data use is authorised, according to Reuters.
Open DACS is the tool from Reuters that helps financial institutions report their use of market data from third parties including exchanges. This helps organisations account for the data they use.
From today the ‘Reuters Open DACS Enabled’ label is available to over 250 members of the Reuters Application Partner Program.