2012 Review: Exchange Fees, Policies Attract Criticism, Make Progress


Despite sustained pressure on data budgets at most financial services firms, 2012 saw a deluge of exchange fee hikes as well as an increased focus on standardized fee policies and tools to help firms manage compliance with exchanges’ data licenses.

US ECN-turned-exchange Direct Edge announced that it would begin levying a distributor charge for its full-depth market data to support the cost of developing new data products (IMD, Feb 27), while CME Group increased the cost of its real-time market

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