Whose data is it, anyway?
The issue of data ownership may be obscure, but has important consequences for firms considering alternative data models, or firms looking to commercialize their in-house pricing or other resources. So ask yourself some serious questions: Who owns ‘your’ data? And why does it matter?
It sounds obvious, but do you know whether you own your data? When your firm sends a quote or an order to a broker or exchange, whose property is that quote or order, and what rights does it give them? What can they legally do with it (or not) and charge for it? Do you know? Are you 100% sure? And even if you know whether you own it or not, actually owning it isn’t a given.
Confused? You’re not alone. It’s an area that has in the past been rife with uncertainty and assumptions, but one where
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