Alpha Trading Implements Market Data Fees

“We said that we would only charge for data once it creates value—that is, when we have captured around 20 percent market share. And we estimate that in December, Alpha had an average share of 22 percent,” says Alpha chief executive Jos Schmitt. “We have costs to cover, and we need to be profitable to invest in new services and use the rest [of any profits generated] to make the market more competitive.”

For trading and investment firms consuming feeds from Alpha, it is charging $200 for a primar

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