If it ain’t broke, broker it: IDBs explore new ways of selling data

The world of broker data has seen its ups and downs over the years. In a few famous cases, vendors would sign lucrative, exclusive contracts to carry certain broker datasets—such as Telerate’s exclusive deal to carry Cantor Fitzgerald’s US Treasury data—though in most cases, brokers gave away their data to get exposure to vendors’ client base so as to drive interest in trading with them.

Now, brokers are selling direct to customers. Traders, seeking new sources of alpha, are turning to new