Cuts Hurt Data Industry in Asia

INDUSTRY FOCUS

Cost cutting at financial institutions, already a major issue in the US and Europe, is having a negative effect on the market data industry in Asia as well, according to consultants and vendors. A source at a major international bank in Hong Kong tells Inside Market Data: "We’re trying to push the cost of market data services down. Market data is driven by the current environment and the market is shrinking.

"Asia is driven by what’s signed in the US and the UK and we have to follow suit," t