Marching to the Beat of a Different Drum
The market data industry in Asia is undergoing transformation. For years, a two-tier market existed, with premium global vendors such as Bloomberg and Thomson Reuters at the top end, and local vendors offering vanilla services for their particular markets, mostly with low-margin equities terminals and basic but effective trading platforms. With the exception of Japan's Quick Corp., these two tiers barely competed directly, and hurdles to crossing borders kept the local vendors, well, local.
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