Most exchanges grant Schedule A Status to firms that can "fingerprint," or prove, which individuals view their data. In trading houses that do business in many markets, Schedule A Status can dramatically reduce fee-based operating costs. But it is important to note that access reports alone do not bestow Schedule A Status. Schedule A Status is a contractual issue between the customer and exchange or data vendor, and is generally only advantageous for large brokerage firms.
For larger companies, ADMIN’s reporting capabilities provide a solid and demonstrable tool toward applying for Schedule A Status. For companies that are too small to justify the expense of Schedule A Status, ADMIN access reporting provides internal accounting and regulatory benefits. Eventually, this reporting capability may one day allow these smaller companies to be directly billed by their data vendor.