The Swedish and Danish Security Dealers Associations

Pricing of Market Data

Financial trading venues have two main revenue streams; trade execution and selling of financial market data. While liberalisation of trading venues the past fifteen years has succeeded created competition on the execution part, trading venues hold monopoly on their market data. The result is an inadequate and very costly access to market data for market participants:

The elevated market data has several negative effects for financial market efficiency and end-users:

To cope with the issues, we recommend the competent regulatory authorities to:

The study is commissioned by the Swedish and Danish Security Dealers Associations.

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