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What we do · Remediation services

Recognized fast, settled sensibly,
and not repeated.

Address vendor compliance issues with proven remediation strategies and the vendor relationships needed to negotiate a sensible settlement. The faster a problem is recognized, the cheaper it settles. The senior team is the first point of contact when a remediation event lands.

The remediation problem

Why remediation gets expensive.

  • Late recognition

    Under-licensed use rarely announces itself. By the time a vendor’s usage logs, an audit questionnaire, or an internal review surfaces it, the lookback is years long and interest on adjustments has been accruing monthly.

  • Answering the wrong question

    The instinct is to explain. The record is what settles. Firms that respond to a finding with narrative rather than evidence extend the process and rarely improve the outcome.

  • Settling without prevention

    A payment closes the finding. Without a process change and a control, the same finding is back at the next audit, with a longer lookback.

  • The relationship as collateral

    A remediation handled as a dispute damages a vendor relationship the firm depends on. Handled from the record, it is a commercial conversation.

The methodology

Four steps from event to closure.

  • 01

    Rapid assessment

    Within days of the event: what the finding is, what the record says, and what the exposure is.

    • Finding read against the contract and the entitlement record
    • Scope and lookback established
    • Exposure number with evidence behind it
    • Single point of contact appointed
  • 02

    Position and evidence

    The firm’s position, built from entitlement evidence, usage data, and contract language, and the evidence file to support it.

    • Record reconstructed for the lookback period
    • Counter-claims raised where the record supports them
    • Legitimate findings acknowledged and priced
    • Response answers what was asked, nothing more
  • 03

    Settlement

    Negotiated with the vendor’s licensing and commercial teams, often folded into the next renewal, with the relationship intact.

    • Direct negotiation with vendor licensing and commercial teams
    • Settlement structured inside the renewal where possible
    • Interest and lookback terms negotiated, not accepted
    • Documentation of the agreed position
  • 04

    Prevention

    The process change and the control that keep the finding from repeating, handed to the operating model and the governance framework.

    • Root cause documented
    • Entitlement and approval controls tightened
    • Standing audit-defense file updated
    • Stakeholder reporting to the committee and, where needed, the board

What the work produces

Closed once.

  • On call

    Senior team first

    A partner is the first point of contact when a remediation event lands.

  • Evidence

    Not narrative

    Every position is built from the entitlement record, usage data, and contract language.

  • Intact

    Vendor relationship

    Settlement handled as a commercial conversation, often inside the renewal.

  • Once

    Not repeated

    Root cause, control, and process change documented so the finding does not come back.

Who we work with

Who calls when a finding lands.

  • Heads of market data holding a finding

    A vendor usage review, an audit adjustment, or an internal discovery that needs a position by the end of the month.

  • Compliance and legal

    A finding that touches redistribution, non-display, or derived-data terms, where the contract language decides the outcome.

  • Finance

    An exposure that needs a defensible number and a settlement structure before it reaches the budget.

Adjacent services

Questions we get asked

Six questions, answered before you reply to the vendor.

  • What counts as a remediation event?

    A vendor or exchange audit finding, a usage-review adjustment, an internally discovered under-licensing, a redistribution or non-display use outside the license, or a machine-consumer use the contract does not cover. Anything where the firm’s use and its license disagree.

  • How quickly can Paraxis engage?

    A partner is the first point of contact, and the rapid assessment begins within days. The first move is to read the finding against the contract and the entitlement record before anything is said to the vendor.

  • Should we respond to the vendor before engaging help?

    Acknowledge receipt and the timeline; do not explain. Findings are settled from the record, and a narrative response given early is hard to retract and easy for a vendor to use. The five first-two-weeks moves in our operating note on exchange audit response apply here too.

  • Can a finding be contested?

    Where the record supports it, yes, and counter-claims are common. Where the finding is legitimate, the work is to price it correctly, negotiate the lookback and interest terms, and structure the settlement, often inside the next renewal.

  • Will remediation damage the vendor relationship?

    Handled as a dispute, it can. Handled from the record as a commercial conversation, it rarely does. Paraxis holds the vendor relationships and knows which terms move; the aim is a settlement both sides can live with and a relationship that continues.

  • How do we stop it happening again?

    Root cause, a control, and a process change, documented and handed to the operating model and the governance framework. A repeat finding is the most expensive kind, and prevention is the part of remediation most firms skip.