The provision of market data is an increasingly debated topic both within the industry and among policymakers. In autumn 2018, Copenhagen Economics published the report “Pricing of market data”, commissioned by the Danish and Swedish Security Dealers Associations. In short, the report finds that market data costs are rapidly increasing and give rise to less transparent and efficient financial markets.
In spring 2019, Oxera published the report “The design of equity trading markets in Europe”, commissioned by the Federation of European Securities Exchanges (FESE). The report addresses many of the same topics as the Copenhagen Economics report.
In this memo, we briefly provide our five main comments to the report from Oxera.
For further information, please contact Jonas Bjarke Jensen