Non-display
The IMD Wrap: Exchange, data vendor audits continue to rankle end-users—what will change in 2024?
While the data auditing process has been contentious for a long time, Max looks at some of the positive improvements made in 2023 and explains why more improvements need to be made in the New Year.
SGX to roll out new market data licensing, usage tool
The exchange is partnering with DataBP to offer an online portal that includes customer-facing tools and back-office automation.
One step closer: How exchanges are seeking tighter relationships with clients
Increasingly, exchanges are trying to get closer to their customers, in a bid to better understand how they use market data. This move may come at the expense of data vendors that are being gradually squeezed out of the exchange-client relationship.
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.
IEX Makes Expansion Bid as New Limit Order is Approved
The Investors Exchange is now looking to propose a second new order type for NBBO non-mid liquidity.
Despite New Approaches, Industry Still Divided Over Data Licensing
Data licensing agreements remain a source of contention for the industry, as suppliers look to differentiate offerings via disruptive pricing structures.
Sweeping ASX Fee Rises Anger Consumers
The exchange is increasing existing fees and introducing new non-display fees, much to the chagrin of subscribers.
LME Bows Third-Party Data Fees, Licensing Portal
The move brings LME in line with other exchanges around data usage for non-trading purposes.
BATS Preps 2016 Equity Depth Data Fees
The fees will target internal use by trading firms and non-display use by other markets for onward-routing.
UTP Committee Makes Final Reporting Push for Non-Display Usage Fee
Some data subscribers have failed to respond to UTP's non-display requirements, despite hefty fees.
NYSE Scraps Display Device Netting, Tweaks Non-Display Policy
Each instance of the same data used by a single consumer will now be liable for separate fees.
Nasdaq Sets Minimum Fee for Trading Venues Using its Non-Display Depth Data
Fee will be capped at $15,000 per month, but will be offset by existing fees, so many will see no increase, officials say.
CTA, UTP Revisit Consolidated Tape Fees
The Consolidated Tape Association (CTA) and the Unlisted Trading Privileges (UTP) Plan, which together oversee the collection and distribution of the consolidated tapes of quote and trade data for US equity markets, have proposed new fee policies for the…
Euronext Ups ’15 Data, Non-Display Fees
European exchange group Euronext has notified customers of changes to its market data licensing agreement, dubbed the Euronext Market Data Dissemination Agreement, including new fees for use and redistribution of real-time and delayed data from its…
Update: BGC Sets New Non-Display Data Policies
Editor's note: This story has been amended to reflect clarifications provided by BGC that the new policy will not introduce fees for "Public" datasets. Inside Market Data apologizes for the errors.
NYSE Overhauls Non-Display Data Fees
NYSE Euronext has informed clients of changes to its non-display policy for all real-time US proprietary market data products, which includes price increases of up to 100 percent for some products, in a move to bring its fees into line with those of its…
Moscow Exchange Preps Unified Data Policy
The Moscow Exchange is expected to approve a new fee policy document within the next two months that will standardize the contract terms and costs of market data usage by its trading members, data vendors and other users, exchange officials say.
Wake-Up Calls
Data management professionals are being alerted to several new developments in the areas of semantic technology, Unique Trade Identifiers, collaboration, data costs and big data
CME Eyes Summer Data Protocol Switch
CME Group is preparing to launch a new version of its market data platform later this year, MDP 3.0, which will feature a binary market data protocol designed to reduce the bandwidth required to deliver CME market data.
FISD Overcomes Non-Display Best Practices Stalemate
The Business Issues Policy and Procedures (BIPPS) Working Group of industry association FISD has reached an agreement on best practices around non-display data usage policies, following 18 months of stalemate on the issue resulting from conflicts between…
2013 Review: Data Licenses Cause Friction Between Exchanges, Users
As exchange revenues from traditional activities such as trading continue to stagnate, more trading venues continued to increase market data fees and to change licensing policies to charge fees for datasets they previously made available at lower rates…