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The Growing Significance of Market Data within Financial Markets
Review Report

  • Publication Date:June 2007
  • Publisher:Datamonitor
  • Product Type: Report
  • Pages:43

The Growing Significance of Market Data within Financial Markets Review Report

Introduction

Market data has always been a fundamental element within capital and financial markets. However, upcoming regulations such as MiIFID and Reg NMS will place immense pressures for accuracy and transparency which has raised the significance of market data and therefore brought this issue back on the strategic agenda.

Scope

  • Focuses on Europe and USA
  • Forecasts market data infrastructure spend by type of organization and asset class until 2010

Highlights

While algorithmic models surely will not run out of market data, given the staggering growth in market data traffic and quote messages in recent years, the 'fuel lines' of algorithmic trading could most certainly become "clogged" according to an industry respondent.

Bearing in mind that Reg NMS and MiFID will be fully enacted in October and November this year, respectively, some firms have been investing heavily over the last few months to set up their data infrastructure in order to begin testing in the new environments.

In order to fulfil best execution obligations under the new rules, banks will not only have to achieve best price for the order, but they will also have to make sure that they do not miss better opportunities. Hence, this is resulting in brokerages apportioning a significant amount of their IT budget into data handling technology.

Reasons to Purchase

  • Vendors can view the financial market data landscape from a top-level perspective
  • Vendors can understand and appreciate what key issues, trends and dynamics this industry is faced with at present
  • Introduction
  • Impact Of Regulation On Market Data (Market Focus)
  • Market Data Strategies In Response To Reg Nms And Mifid (Strategy Focus)
  • Solutions And Strategies For Going Forward In A Rapidly Evolving Market Data Environment (Technology Focus)
  • Market Data Infrastructure Expenditure By Type Of Organization (Databook)
  • Market Data Infrastructure Expenditure By Asset Class (Databook)
  • Impact Of Regulation On Market Data (Market Focus)
  • Summary
    • Analysis
    • Market Data Is The Lifeblood Of The Financial Services Industry
    • Market Data Is The 'Fuel' For Algorithmic Trading Models
    • Exchanges Are Increasingly Adopting Fast Protocol
    • Speed And Quality Of Market Data Will Be New Revenue Drivers For Exchanges
    • Fast Could Be Key Towards The Development Of A Market Data Standard
    • Reg Nms And Mifid Will 'Fuel' Growth In Market Data Volumes
    • Overview Of Reg Nms And Mifid
    • Mifid Is Broader In Scope Than Reg Nms
    • Retail Investors Look Set To Win And Exchanges To Lose
    • Exchanges Are Creating New Services To Boost Market Data Fees
    • Increasing Number Of Exchanges Are Moving Into The Trade Reporting Business
    • Trfs Boost Exchanges' Bottom Lines
    • Exchanges Need To And Some Currently Are Focusing On Offering Low Cost Executions
    • Market Data Strategies In Response To Reg Nms And Mifid (Strategy Focus)
  • Summary
    • Analysis
    • Broker-Dealers Are Preparing For Upcoming Surge In Market Data
    • Market Data Cost Reduction Is A Key Priority
    • Banks Are Looking To Reduce Cost Burden By Selling Their Own Market Data
    • Complying With Mifid Or Reg Nms - Should Firms Build Or Buy Solutions?
    • The Next Wave Of Market Data Management Will Go Beyond Setting Up Robust Infrastructures
    • Focus Is Moving Away From Market Data Content And Towards Market Data Infrastructure
    • The Need For Partnership Is Vital
    • Data Compliance Is Key Priority For Many Fsis
    • The Need For Data Governance Is Gaining Momentum
    • Firms Need To Cost Effectively Manage Their Market Data Services
    • Planning Is A Prerequisite For Success
    • Effective Market Data Management Is The Second Prerequisite For Success
    • A Centralized Market Data Strategy Can Help Firms Respond To Compliance Requirements
    • Solutions And Strategies For Going Forward In A Rapidly Evolving Market Data Environment (Technology Focus)
  • Summary
    • Analysis
    • Investment Into Market Data Infrastructures Will Continue To Grow
    • Firstly, Market Data Volumes Are Doubling Annually Thereby Forcing Capacity Extension
    • Secondly, Regulatory Reforms Are Greatly Impacting The Market Data Landscape
    • Hirdly, Competitive Forces Are Taking Effect
    • Fourthly, Rather Than Members Of Staff, Applications Are The Main Consumers Of Market Data, Therefore Infrastructure And Speed Have Become Paramount
    • Market Data Platforms Must Support Firms' Automated Trading Strategies
    • White Box Approach Is The Next Generation In Algorithmic Trading
    • Maintaining Data Quality Is A Major Hurdle Throughout The Trading Lifecycle
    • Time Series Order Is Critical In Today's Environment
    • In Memory Databases Open Up The Possibilities For Advanced Event Processing Capabilities
    • Traditional Relational Databases Cannot Cope With Today's Market Data Challenges
    • Market Data Platforms Are Evolving Into Next Generation 'Cross-Asset' Infrastructures
    • Industry May Move To A Central Utility For Storage And Retrieval Of Market Data
    • Market Data Infrastructure Best Practice Guidelines
    • Market Data Infrastructure Expenditure By Type Of Organization (Databook)
    • Introduction
    • Global (Usa & Europe) Front Office Market Data Expenditure From Buy Side Institutions
    • Global (Usa & Europe) Front Office Market Data Expenditure From Sell Side Institutions
    • Global (Usa & Europe) Front Office Market Data Expenditure From Other (I.E. Treasury) Functions
    • Market Data Infrastructure Expenditure By Asset Class (Databook)
    • Introduction
    • Global (Usa & Europe) Front Office Market Data Expenditure For Equities
    • Global (Usa & Europe) Front Office Market Data Expenditure For Fixed Income
    • Global (Usa & Europe) Front Office Market Data Expenditure For Fx / Others
  • Appendix
    • Definitions
    • Internal
    • External
    • Packaged Software
    • Professional Services
    • Outsourcing
    • Hardware
    • Systems Integration
    • Event Processing
    • Further Reading
    • Ask The Analyst
    • Datamonitor Consulting
    • Disclaimer
  • List Of Tables
    • Table 1: Global (Usa & Europe) Front Office Market Data Expenditure From Buy Side Institutions ($M)
    • Table 2: Global (Usa & Europe) Front Office Market Data Expenditure From Sell Side Institutions ($M)
    • Table 3: Global (Usa & Europe) Front Office Market Data Expenditure From Other (I.E. Treasury) Functions ($M)
    • Table 4: Global (Usa & Europe) Front Office Market Data Expenditure For Equities ($M)
    • Table 5: Global (Usa & Europe) Front Office Market Data Expenditure For Fixed Income ($M)
    • Table 6: Global (Usa & Europe) Front Office Market Data Expenditure For Fx / Others ($M)
  • List Of Figures
    • Figure 1: Key Drivers And Catalysts Behind Increased Market Data Volumes
    • Figure 2: Key Elements Of Reg Nms And Mifid
    • Figure 3: Reg Nms And Mifid Compliance It Spend
    • Figure 4: Front Office Market Data Storage Expenditure (Us And European) ($M)
    • Figure 5: Global (Usa & Europe) Front Office Market Data Expenditure From Buy Side Institutions ($M)
    • Figure 6: Global (Usa & Europe) Front Office Market Data Expenditure From Sell Side Institutions ($M)
    • Figure 7: Global (Usa & Europe) Front Office Market Data Expenditure From Other (I.E. Treasury) Functions ($M)
    • Figure 8: Global (Usa & Europe) Front Office Market Data Expenditure For Equities ($M)
    • Figure 9: Global (Usa & Europe) Front Office Market Data Expenditure For Fixed Income ($M)
    • Figure 10: Global (Usa & Europe) Front Office Market Data Expenditure For Fx / Others ($M)
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