Nasdaq is changing the way it shares tape revenue with participants trading Nasdaq-listed securities, effective June 3. Tape revenue was earned from participants posting Nasdaq trade data. But now, Nasdaq will draw revenue from quote updates as well.
The move also appears to be an effort by Nasdaq to justify the costs of trades and lure back ECNs that have migrated to other exchanges because of the costs of trading on Nasdaq, although it seems to be having the opposite effect.
Instead of shar
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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