Panel 2: Market Data Fees, Which Side Are You On?
Moderator: Matt Simon, Senior Analyst, Aite Group
Kirsten Wegner, Chief Executive Officer, Modern Markets Initiative
Greg Babyak, Global Head of Regulatory Affairs, Bloomberg
Douglas Munn, Head of Elektron Real Time, Refinitiv
Michael Mook, Senior Managing Director, Program Trading Group, Weeden & Co.
The data that empowers the decisions of all market participants, from computer-driven traders to large asset management firms, is critical. But the data-access fees that U.S.-based exchange groups charge brokers and investors have become a serious source of contention. Brokers and investors complain that exchanges are price gouging their customers. Exchange groups defend prices as a function of supply and demand, and participants should compare value propositions by looking at the total cost to transact on exchanges. Key discussion points include:
- Overview of the current landscape for market data products and market access services, and their associated fees; exploration of the potential steps to improve products and services
- Discussion of current market data products, market access services, and their associated fees
- Assess core data infrastructure along with a review of public transparency