Our interview this week with Bob Hunter, the fellow in charge of McGraw-Hill's financial information services group, illuminates something we've been sensing here at Market Data Central for some time: that there's more than meets the eye to the market data ambitions of the Standard & Poor's banner.

S&P is one of three second-tier market data vendors that have increasingly aggressive plans for their involvement in the financial information business. Hunter may have backed away somewhat from his

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