GRSS has significant and practical experience in benchmark data licensing. This includes the design and implementation of data licencing models for Inter Bank Offered Rates (or ibors) as well as other types of benchmarks and indices. The licensing of benchmarks, which were previously freely available for distribution and end-use, introduces a set of unique considerations that are well understood by GRSS.
GRSS has a proven track record of introducing fee liable licensing models without market disruption or complaints. The primary reason for this lies in the backgrounds of key members of the GRSS team. Team members are made up of former senior data vendor executives, banking and broking executives and members of banking associations. The combined knowledge of the team has allowed GRSS to develop clear communication plans understanding of the issues faced by all the major stakeholders in the licensing process and to provide reasonable, readily acceptable terms for all users.
In 2014, GRSS introduced a clear delineation between professional and non-professional users with both a live and 24-hour delayed service for benchmark data. This model is now becoming the industry standard.
GRSS continues to innovate with its licensing models, to capture new uses of benchmarks while providing users of the data with certainty and continuity.
GRSS can provide constructive insights into the strategic decisions (strengths/weaknesses) that a benchmark administrator needs to make when considering the right licensing approach.