Paul Kedrosky highlights once again the value of data in the edge economy.
Trading Data is more valuable than the Trades
"Here is a great factoid, if not entirely surprising, about the profits exchanges earn from trading versus trading data.
The moves by NYSE and Nasdaq OMX come at a time when the exchanges are seeking to generate as much revenue as possible from market data, which now makes up for a larger share of revenue than equities trading. At Nasdaq, market data generates 20 percent of revenue, while at NYSE, the figure is 14 percent.

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