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Broker-dealers are preparing for upcoming surge in market data. Market data cost reduction is a key priority. Banks are looking to reduce cost burden by selling their own market data. Focus is moving away from market data content and towards market data infrastructure.

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Bearing in mind that Reg NMS and MiFID will be fully enacted in October and November this year, respectively, some firms have been investing heavily over the last few months to set up their data infrastructure in order to begin testing in the new environments. In order to fulfill best execution obligations under the new rules, banks will not only have to achieve best price for the order, but they will also have to make sure that they do not miss better opportunities. Hence, this is resulting in brokerages apportioning a significant amount of their IT budget into data handling technology.

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