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Will SEC Move on Market Data? Agency Hints That New Pricing Model Is on the Way

Traders Magazine, November 2002

Gregory Bresiger

Harvey Pitt, still the chairman of the Securities and Exchange Commission, has raised questions about fees for market data. At the SEC hearing in New York on market structure, an NYSE specialist told Pitt that fees -17 percent of the Big Board's revenue stream - have been unchanged for some 70 years. But Pitt wondered if that was a reasonable pricing method. He said one way of approaching the problem is to determine production costs and then add in a reasonable rate of return.

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