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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