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US SEC for public consultation on data fee changes

Published : Thursday, 3 October, 2019 at 12:00 AM  Count : 85

WASHINGTON, Oct 2: The US securities regulator on Tuesday proposed a change to the way exchange operators alter their fees, in a move aimed at improving transparency but which could make it harder for operators to compete on price to propel revenue growth.
The US Securities and Exchange Commission (SEC) proposed that operators submit requests to change fees for such services as market data and connectivity with other exchanges, and then seek industry feedback before any changes can be implemented.
At present, operators - such as New York Stock Exchange-owner Intercontinental Exchange Inc (ICE.N), Nasdaq Inc (NDAQ.O) and Cboe Global Markets Inc (CBOE.Z) - notify the regulator of fee changes, which then take immediate effect. The system effectively allows operators to compete on price in real time.
In May, the SEC said securities exchange operators must do a better job of describing and justifying their fees when they make a filing, or else the filing will be suspended for review.    -Reuters










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