US competing consolidators grapple with pricing uncertainty as SEC, exchanges battle over new Sip regime
Vendors who want to provide consolidated market data under the SEC’s new system can’t make plans until they know how they are going to be charged for market data. But the fee schedules are mired in legal action and confusion.
When the US Securities and Exchange Commission (SEC) finalized a rule that made major changes to US equities market infrastructure in December 2020, it opened the door for interested technology vendors to become suppliers of consolidated market data.
The new rules create a system in which, instead of two exchange-run securities information processors (Sips) pumping out bid/ask quotes consolidated from US trading venues to consumers, a decentralized system of entities called competing
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Regulation
Waters Wavelength
Waters Wavelength Podcast: Nasdaq’s Dague on exchange cloud strategy
Bill Dague, head of alternative data at Nasdaq, joins the podcast to discuss the forces driving exchanges to the cloud.
Subscribe to Weekly Wrap emails
Most read
- IMD & IRD Awards 2022: All the Winners and Why They Won
- Spot the difference: Why crypto data can’t be treated like traditional market data
- SEC warned that alt data is rife with due diligence risks days before Thinknum crisis emerged
- In the world of financial data, context—not content—is the new king
- IMD & IRD Awards 2022: Best evaluated pricing service provider—Bloomberg