Nasdaq, User Groups Fire Opening Salvoes in Looming Battle Over SIP Data Fees

As the SEC prepares to host a two-day event to tackle market data access and fee issues, industry user groups and Nasdaq have laid out their positions on SIP reform. Max Bowie reports.

Fight boxing gloves

In late August, two industry user groups—the Managed Funds Association and the Alternative Investment Management Association—penned a joint letter to US markets regulator the Securities and Exchange Commission, requesting reviews of the fees charged by US exchanges for market data.

Though primarily concerned with the cost of proprietary exchange data, the letter asked the SEC to apply the same principles to governance of the SIP (Securities Information Processor) feeds—the consolidated feeds of

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