TRG Screen buys BST America to expand market data advisory work

TRG Screen has completed the acquisition of BST America, adding specialist market data advisory and consultancy services to its existing software and managed services business. The company said the transaction broadens its coverage of the market data value chain for financial services and legal-sector clients.

Financial terms were not stated in the announcement. BST America is based in New York and has more than two decades of experience in market data commercial operations, according to TRG Screen.

The deal brings BST America’s work in vendor benchmarking, demand management, sourcing and negotiation strategy, contract and renewal support, and operating best practices into TRG Screen’s business. These services sit alongside TRG Screen’s market data and subscription management software, which is used by financial services and legal firms globally.

Advisory services added to software and managed services

Market data programmes typically combine technology, vendor contracts, internal demand controls and cost oversight. TRG Screen said the acquisition extends its offering across those functions, from systems and managed services to strategic advice on how clients buy, use and manage market data.

Vendor benchmarking compares supplier pricing and service terms against alternatives or peer arrangements. Demand management focuses on matching data access to business need, while sourcing and negotiation strategy supports procurement and renewals. Contract and renewal support addresses the commercial terms that govern data usage, redistribution and ongoing service arrangements.

TRG Screen said BST America has long-term client relationships, repeat engagements and a reputation as an adviser to market data commercial teams. The combined business will aim to give clients more visibility into market data spending and usage, which TRG Screen said can support sourcing, negotiation and operating-model decisions.

Nadine Scott, chief customer strategy officer at TRG Screen, said the acquisition would expand the domain expertise available to customers and make established practices more accessible as clients seek additional value from market data programmes. She said BST America’s commercial market data expertise fits with TRG Screen’s technology and managed service capabilities.

Sara Crowe, managing partner of BST America, said joining TRG Screen would give BST America’s customers access to a wider range of capabilities while retaining the same team and expertise, supported by TRG Screen’s scale and reach.

The acquisition strengthens TRG Screen’s position as a partner to market data teams worldwide, according to the company. TRG Screen said the combined offering is intended to support clients at different stages of market data maturity, from operational control of subscriptions to commercial decisions on sourcing and vendor management.

This story draws on original reporting from Finextra Research.