Information Industry Association Assigns Subcommittee To User Definition Issue

THIS WEEK'S LEAD STORIES

The Financial Information Services Division of the Information Industry Association has set up a subcommittee to investigate the definition of a user of market data. The issue is important because as data are increasingly redistributed, manipulated and intermingled by firms, data vendors must keep track of how many people and applications are consuming their data.

Data vendors and securities exchanges are by far the most anxious to resolve the user definition issue because it translates dire