This is great. Thank you Joan for sharing. I wish that Bloomberg focused less on how secure their system is and more on how unfair the fees are. We will now have to wait and see how the SEC responds. Normally, this is not quick. I would have like to see comments from listed companies on the NYSE complaining how this will limit access to real time data on their list securities. That might have helped. Maybe a few like BAC, WFC an GS saying they will list on the NASDAQ would be an eye opener for the NYSE. Bob
I had that feeling too after reading the whole document. Although it also clearly states that market data should be distributed in cost-based approach.
I would like to see the normalized feeds reduced to the old fees. Let them charge extra for raw data. Bob
Oh pls Bob. With all due respect, where is your firm's letter to the SEC? You are one of the few who totally complied and just passed on this BS to all your clients. In case you still don't get it, firm like GS or MS were never asked to pay. It was from the start a selective and totally crooked business idea which never makes it through a legal challenge. You guys just fell for it and Bloomberg on the other side did not. To your credit, your firm is much smaller and would probably take on too much risk to legally challenge this charge. Yet, your silence and complicity is well noted and disappointing to be very honest. It is complicit people in "crime" who imho are even worse than the perpetrators.
You really have no idea what we did during that time do you? You also have no idea what happened at other firms. You just like to attack.
how would we know, Bob, when you do not communicate it nor file letters? How come Bloomberg's letter is there but none of your firm? All you did was basically being inquisitive with your clients how they peruse their data. The data is SOLD by the exchanges and PASSED through by firms like yours. As long as clients abide by the contractual agreements it should be none of your business nor the exchange's business whether the data feeds algorithms, a UI or a chart. Are there letters in public domain from your firm, or are there threads here at ET or other forums where you fought for your clients? Where are those? I do not accuse you or attack you, I simply stated facts. Update us on the facts if you have evidence or backup that shows how you pushed against non-display charges.
I got so frustrated by these fees, that I started building a new open-source exchange that's designed for algo trading... with NO NON-DISPLAY FEES. http://www.ritchiestockexchange.com/
This exchange is going to put the NYSE out of business. NO NON-DISPLAY FEES! These non-display fees infuriate me. This paywalling effectively prevents retail investors from trading algorithmically!