There continues to be a debate regarding the costs of data in EU equity trading markets. FESE and Oxera published this paper to provide some key facts about market data, with a particular focus on how exchange data revenues and fees have evolved since MiFID II and where market data fees sit within the broader financial data value chain.
1. The figures presented in this note are based on analysis of publicly available pricing schedules for market data provided by FESE members; as well as confidential information on revenues from market data and trade execution services provided by FESE members.
2. Where possible, we have aimed to ensure that any fees and revenues are presented on a consistent basis over time. Where there have been changes to data packages over time, we set these out in the notes to the relevant figures.
https://www.fese.eu/app/uploads/2024/09/Oxera-note-on-market-data-fees-and-revenues.pdf
