Market Data Business Trends: Where’s the Bottom?


We can’t remember being more concerned about the market data business and where it might be headed. If you take the US equities markets as thermometers, the performances of three top measurements so far this year are not good. The Dow Jones Industrial Index is down five percent since December 31, 2001, while Nasdaq is down 24 percent, and the S&P 500 is down 12 percent.

We don’t claim to be market experts, but being in the business this long, we have not witnessed such a steady stream of gut-

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