Direct Edge Preps Fees for Depth of Book Data

bryan harkins coo direct edge
Bryan Harkins, chief operating officer of Direct Edge

US ECN-turned-exchange Direct Edge has announced it will begin levying a distributor charge for its full-depth market data from May 1 this year, to monetize its data to create an income stream, and to support the cost of developing and launching new, value-added data products in future.

Direct Edge previously provided its market data free of charge, but pending approval from the Securities and Exchange Commission, Direct Edge plans to charge “internal distributors” (typically buy-side or sell-si