Market Data Proposal: Brings Out the Critics Is it More Tricky Than The Trade-Through Plan?
Traders Magazine, May 2004
One part of the SEC's Regulation NMS proposals often takes a back seat when the debate is about trade-through reform. But don't be fooled: The market data component is as far-reaching and controversial as the widely-reported trade-through recommendations. "This SEC proposal is simply attacking the wrong side of the problem by trying to figure out how to divvy up the pie of market-data revenues," says Lawrence Leibowitz, co-head and executive vice president of Schwab Soundview Capital Markets, the institutional research and trading arm of the Charles Schwab Corp. "The problem is that the pie is too large."
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