REDI Global Technologies: An Agent of Change

Meaningful collaboration is achievable if the focus is on the client instead of the tactical business benefits alone

Ultimately, Nangalia sees REDI’s philosophy of openness as being driven by the overarching industry trend towards transparency. He points to the buy-side’s increasing effort to get a grasp of the Total Cost of Ownership (TCO) of their entire trading technology stack rather than just their trading costs as an example. “Unfortunately many vendors utilize opaque, bundled models that make it difficult for the buy-side to ascertain the totality of the fees they’re paying. At REDI, however, we make clear on our website how and for what we charge, providing an explicit rate card detailing our fees as well as the monthly rates for our a-la-carte services. We felt it was important that our revenue model be easily understandable by anyone who’d like to know.”

Nangalia believes the industry is on the cusp of a revolutionary period of change. He points to the fiercely competitive banks that have become much more collaborative over the past half dozen years, citing examples like Project Neptune, Symphony and the recent Reference Data effort. “Meaningful collaboration is achievable if the focus is on the client instead of the tactical business benefits alone,” he explains. “By doing so, we think there is a tremendous opportunity to not only do well business-wise, but also affect positive change for all market participants—investors, brokers, exchanges and vendors.”