Fees
Exclusive: Terry Duffy on CME’s cloud future, takeover targets, and ... candy
CME CEO Terry Duffy explains the relatively narrow strategy that the derivatives exchange has taken under his leadership, especially compared to its peers.
‘I recognize that tree’: Are market data fees defying gravity?
What do market data fees have in common with ‘Gilmore Girls’ and Samuel Beckett? Allow Reb to tell you.
Nasdaq leads push to reform options regulatory fee
A proposed rule change would pare costs for traders, raise them for banks, and defund smaller venues.
Examining Cboe’s lawsuit appealing SEC’s OEMS rule rejection
The Chicago-based exchange has sued the regulator in the Seventh Circuit Court of Appeals after the agency blocked a proposed rule that would change how Silexx is classified.
Lucrative market data deal with LSEG fuels Tradeweb’s record quarter
The fixed-income trading venue realized gains from its 2023 deal with the London Stock Exchange Group, amid soaring revenues from market data providers industry-wide.
European exchange data prices surge, new study shows
The report analyzed market data prices and fee structures from 2017 to 2024 and found that fee schedules have increased exponentially. Several exchanges say the findings are misleading.
Cusip Global Services wants to know, ‘What’s your damage?’
The evidence and discovery phase of the case against the identifier bureau is set to expire in March, bringing an anticipated jury trial one step closer.
Substantive Research reveals new metrics for market data negotiations framework
The research firm will make its industry-derived project available for public consumption next month.
Data costs rose in 2024, but so did mitigation tools and strategies
Under pressure to rein in data spend at a time when prices and data usage are increasing, data managers are using a combination of established tactics and new tools to battle rising costs.
Removal of Chevron spells t-r-o-u-b-l-e for the C-A-T
Citadel Securities and the American Securities Association are suing the SEC to limit the Consolidated Audit Trail, and their case may be aided by the removal of a key piece of the agency’s legislative power earlier this year.
UK, EU prepare for bond tape tender as Ediphy enters fray
Competition for the role of consolidated tape provider is heating up as regulators confirm tenders to open in Q1 next year.
Industry seeks to avoid future clashes over data costs
The IMD Wrap: Max wonders when and why buying data became a blood sport.
Facing platform shutdown, former IEX Cloud head buys its assets in 11th-hour bid
Tim Baker, Pedro Aguayo, and a silent partner have come together to purchase IEX Cloud’s assets days before the exchange was to retire all its products on August 31.
New working group to create open framework for managing rising market data costs
Substantive Research is putting together a working group of market data-consuming firms with the aim of crafting quantitative metrics for market data cost avoidance.
Size matters: US equity market players wrangle over new tick size regime
The industry expects the SEC to finalize the Reg NMS shake-up as soon as late summer. While there is broad agreement about the need for change, the extent of the reduction in access fees and tick sizes will have a big impact on markets.
Finra clears hurdle with CAT launch, but several others remain
Two major components of the consolidated audit trail are now in place. But wrangling over the CAT’s future continues.
Ace high or busted flush? Digital Asset’s mixed fortunes mirror DLT adversity
The vendor hoped to remodel post-trade using blockchain technology—and it still might—but its bumpy progress raises questions over the future of DLT in finance.
As legal letters fly, Cusip licensing debate rolls on
Cusip Global Services’ licensing agreements with third-party data providers sit at the heart of the antitrust case against itself and three others.
The IMD Wrap: Blowing tires, engines and budgets in F1 and financial data
There are many similarities between Formula One and financial data—except when it comes to how much you can spend and how much spend contributes to success.
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.
Waters Wavelength Podcast: Tim Baker on Cusip lawsuit, data copyrights, and innovation in market data
Expero’s Tim Baker joins the podcast to talk about the ongoing Cusip suit and regulatory intervention in the market data space.