FISD Forms Group to Address Online Broker Data Issues

Group will examine subscriber and reporting issues affecting online brokers and their clients

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The group will be open to participation by all FISD member firms, but is expected to appeal most to large online brokers and the vendors that serve them, as well as exchanges on which the brokers execute and source data from.

FISD managing director Tom Davin says the working group will most likely focus on two key issues: creating better definitions of non-professional and professional users to determine who would be subject to different fee tiers, and drafting provisions in subscriber

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