New study reveals soaring market data spend led by trading terminals
The research finds that 2024 was a record year for overall market data spend, supported by growth in terminal use, new license schemes by index providers, and great price variation among ratings agencies.
Substantive Research and Expand Research have released a joint whitepaper examining last year’s market data environment. The pair found that 2024 was a record year for market data spend, based on a sample of 40 buy-side firms and 20 sell-side firms managing a total of $40 trillion in assets across the UK, EU, and North America.
Market data budgets increased marginally by 2%, but this was dwarfed by vendors’ average renewal rates, which increased by 15%, Substantive found. The findings paint a
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