BST was engaged to evaluate a large securities pricing supplier prior to the renewal of the multi-year contract. The client authorized us as their agent to conduct the negotiations on their behalf. Our analysis included benchmarking the pricing against the industry and reviewing all terms and conditions as well as renewal options for future years. The result of this negotiation resulted in a material reduction in fee levels representing ~$1,000,000 over a three-year contract. In addition, we simplified the fee model from a month-to-month multiple variation of fees methodology to a fixed monthly fee that enabled the client to budget for the full three years.