Where have all the exchange platform providers gone?
The IMD Wrap: Running an exchange is a profitable business. The margins on market data sales alone can be staggering. And since every exchange needs a reliable and efficient exchange technology stack, Max asks why more vendors aren’t diving into this space.
To paraphrase the comic Eddie Izzard: “Building an exchange, are we? That’s a fantastic idea! Marvelous religion those exchange people have got. Yes, a lot of colorful jackets, I like that…” First fun fact: Izzard attended the same school as me, but some years earlier, I should note, and was much better at French, according to my teacher.
Anyway, exchanges are a critical part of the capital markets infrastructure. They’re the facilitators of buying and selling securities and derivatives; the
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