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Data Debate: Speed, Quality, Fairness, and Cost
Markets Media | Dec 13
Performance on the buy side and trading profitability on the sell side are directly related to information advantage. That information advantage is directly tied to the information asymmetry that one trader has over another. But the debate rages: Why is it so expensive? Who should get the best data – everyone, or the person with the most cash? And what about fairness? Shouldn’t everyone have access to the same data to ensure fair competition? “Reg NMS has created a situation where the exchanges have regulatory-granted pricing power on the data side, which they are using to offset — and many would say to a borderline egregious manner — the reduction they’ve seen in their trading-related revenues. More and more people are viewing this as a de facto tax on market participants and by extension their end customers, and a reckoning around this seems to be coming,” said Dash Financial CEO Peter Maragos.
Instinet Completes U.S. Equity Research Integration to its Agency Execution Platform
LeapRate | Dec 15
Instinet today announced that it successfully integrated U.S. equity research and sales into its cash equities platform, creating a multi-sector boutique research offering. U.S. equity research was previously provided to clients by Nomura Securities International, Inc. The new model enables clients to choose from a number of payment options and offers insight in parallel with Instinet’s deep liquidity and diverse execution capabilities to more than 1,000 institutional investors.