SIX Swiss Exchange’s MTF Fee Sparks Debate
The SIX Swiss Exchange has begun consulting with regulators and market participants on plans to introduce a new data license fee targeted at multilateral trading facilities, but has delayed the new policy until the consultation is complete.
The new fee is aimed at MTFs that use the exchange’s real-time data to support functions such as dark order book matching. Until now, dark pool operators have used real-time data from primary exchanges as a reference price for trades matched via their books
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