DataContent has teamed up with UK recruitment agency IT Human Resources to create an executive search partnership specializing in market data.
“The ITHR/DataContent exclusive partnership is about non-compromise - finding the best candidates for very specific junior to senior level jobs,” said Rafah Hanna, chief executive and co-founder of DataContent. “We will also help firms with outplacement services for any executives laid off as the result of a restructuring. ITHR is the perfect partner, bringing their extensive standing and wealth of success in recruitment to the market data community”
DataContent helps financial firms and exchanges keep track of where their market data is being used, when it is being used and how much is used. Such tracking, done through software called DataCompass, allows exchanges, broker-dealers and fund managers to understand whether they are fulfilling the terms of their market data contracts that dictate who can use or change the data and when. Hanna said a number of Tier 1 banks and data vendors are evaluating the service.
While the financial industry is experiencing massive layoffs in middle- and back-office operations, market data specialists remain among the most sought after employees because of their importance to supporting the trading desk. Among the most popular positions, according to Hanna are market data manager, global head of licensing, head of market data strategy and market data business analyst.
“We’ve had inquiries from interdealer brokers, exchanges, index funds,” said Hanna, who was formerly director of data for MTS, a European government bond trading platform.
Annual salaries can range as low as $70,000 for an administrative market data position to as much as $700,000 for a C-level or senior vice president role in market data governance, data acquisition, strategy, licencing and policies.