The battle over exchange data

Managers feel they are being exploited with high data prices, but could things be about to change?


On a June afternoon, in a small and inconspicuous room in Manhattan, a drawn-out legal batt le was seemingly reaching its end. The plaintiffs, represented by the Securities Industry and Financial Associated (Sifma), alleged that the growing fees charged by Intercontinental Exchange (ICE), which owns the NYSE, and Nasdaq for