Data Fee Complainants Buoyed by SEC Appointee

Recent appointments at the US Securities and Exchange Commission have led some firms to believe regulators and policymakers will finally start to address what they believe to be opaque pricing structures for market data at exchanges. Joanne Faulkner investigates whether a recent SEC appointee will take firms’ side in their battle against exchange fees.

sec-building

The global head of market structure and liquidity at a global banking giant says his firm signed the letter because, “There just seems to be no ability for firms to negotiate on market data pricing whatsoever. We legally have to buy market data. We feel compelled to buy whatever we feel is the most accurate, fastest, quality data we can consume. But it seems that as an industry, we are stuck in an arms race where it is not clear what the benefit is.”

In the US, the debate around market data is

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FCA declines to directly regulate market data prices

A year-long investigation by the UK regulator to determine whether competition is hindered in the wholesale data markets has concluded with its decision not to directly regulate much-maligned data pricing and licensing structures.

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