Fee filings cloud hopes for cheaper NMS data

Aspirant ‘competing consolidators’ were hoping for a lot more leeway than they got in an important fee filing, Jo says. By Jo Wright

Early this year, WatersTechnology interviewed vendors that were interested in putting themselves forward as competing consolidators of US National Market System (NMS) data under a new regulatory plan to modernize the way that such data is consolidated and disseminated to consumers.

At that point, the Securities and Exchange Commission’s infrastructure rule and its associated governance plan, the CT Plan, were still just in the works, but a lot has happened since then—at almost dizzying speed in

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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.

How GenAI could improve T+1 settlement

As well as reducing settlement failures, researchers believe generative AI can provide investment managers with improved research, prioritization, and allocation resources.

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