Firms' Data Utility Plan Faces Hurdles
Focus on only listed securities and lack of market data sister operations will be challenging, analyst says
The Securities Product Reference Data (SPReD) utility that is said to be in the works, with J.P. Morgan Chase, Goldman Sachs and Morgan Stanley as major backers and SmartStream as infrastructure provider, will face challenges, according to an industry analyst.
"It's an interesting idea but not an easy one. While it could be considered a threat to incumbents, it takes a lot of work," says David Weiss, senior analyst at Aite Group.
SPReD may work well for listed securities, but it is questionable
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