Chicago Merc Axes Market Data Execs As Part of Revamp

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The Chicago Mercantile Exchange has axed its top market data executives as part of a so-called restructuring plan that eliminated over 70 jobs. Market data industry observers suggest that the cuts were made to the market data group by exchange executives who have little understanding of the group's function.

The cuts come at a time when revenues from market data sales are becoming an increasingly significant source of income for exchanges. Indeed, last year the Chicago Board of Trade named Da

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