Open Platform: Praying for Change: Don't Blame Data Fees; Blame the Policies

DataContent's Rafah Hanna explains why market data fees may be a necessary evil, but not an "immoral" one, and suggests how firms can halt the growth of fees.

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The ongoing clamor for charges, fees, policies, boundaries and interpretations to be removed, amended, repositioned or lowered is nothing new. On the one hand, end users question why they should pay for data that they create and submit, which exchanges redistribute back to them at exorbitant cost; they ask why they should pay for data when they also pay trading fees; and why they are treated like criminals when—not if—they are audited.

On the other hand, exchanges and other data sources say they

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