Hanna said that the number of data services offered by exchanges and vendors has risen from 279 five years ago to 410 today─with an average of 14 policies governing each market data license─with the result that end-user firms are signing more contracts, spending more money on data, and are exposed to more liabilities resulting from non-compliance with contracts than in the past.
As a further result of this growth, the number of disparate policies with which data consumers must comply is also ris
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