TRG, provider of subscription spend management software solutions, has announced it has agreed exclusive global distribution rights for DART Terminal Usage Analytics with Vela, the trading and market access technology provider.
Under the agreement, TRG will provide sales and relationship management for new customers, while Vela will provide after-sales support and development and continue to manage all existing client relationships.
DART Terminal Usage Analytics enables users to track usage across the complete organization and has proven results in the management and optimization of market data spend. Key functionality includes user and desk profiling, peer-to-peer benchmarking, and usage heat maps.
The addition of DART Terminal Usage Analytics to TRG’s product line up is consistent with its strategy to bring together market-leading subscription expense management and usage tracking capabilities to enable their clients to optimize their vendor spend. DART’s terminal usage tracking capabilities are complementary to TRG’s ResearchMonitor product which provides a comprehensive usage monitoring solution for web-delivered market data and information service resources.
“Alongside our FITS, INFOmatch and ResearchMonitor products, this further reinforces TRG’s strategy of offering usage tracking of key subscription spend categories. This enables our 300 global clients in the financial services, legal, and professional services industries to gain full transparency of their spend and usage to allow them to optimize their spend on high-value data services,” said Leigh Walters, Chief Revenue Officer at TRG. He added, “With a product line up of comprehensive spend management and usage tracking tools, we are now the clear market leader and the only vendor in the marketplace offering one-stop shop for integrated expense management and usage monitoring for market data and information services.”
TRG and Vela will work together to further develop the strategic direction of the product and to provide integration with TRG’s enterprise spend management platforms, FITS and INFOmatch (the latter which was obtained as part of TRG’s acquisition of Screen Group in January 2018).
Ollie Cadman, Vela’s Head of Business Operations, said, “We are excited to announce this partnership with TRG. The market responded very positively to the acquisitions we completed in 2017 that enhanced our market data and execution software with complementary market access, trading, and risk capabilities. With this continued focus, we believe that DART Terminal Usage Analytics has increased potential when delivered as part of a wider spend management solution.” He continued, “Having built strong ties and a solid relationship with TRG over many years, our partnership with them was an obvious choice to help us achieve these goals and continue to expand the DART user base.”
Note: This agreement does not cover DART Entitlements which will continue to be developed and supported solely by Vela.