IMD: What will the commercial terms look like for a consolidated feed?
Misra: There's definitely a need to [provide redistribution and data dissemination], but the license fees to redistribute that [data] are very expensive. Instinet Europe pays those fees because we have our own order management system over which we disseminate data so that clients can trade.
IMD: Even if Chi-X doesn't offer its own consolidated tape, will it still take in data for smart routing and other functions?
Anthony and James look at developments pertaining to the Consolidated Audit Trail and wonder if big-tech companies could challenge traditional asset managers.Subscribe to Weekly Wrap emails
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