London Stock Exchange Group today announced the launch of a new post-trade market data service to professional users, offering real-time post-trade market data from both the London Stock Exchange and Borsa Italiana cash markets.
The new, flexible market data offering, which combines order book trade prints and reported ‘off book’ content, has been designed to develop the availability of high-quality post trade market data in the multi-venue MiFID environment. The choice and flexibility presented by a discrete post-trade data service, at a lower price, should help to foster innovation by commercial aggregators who are already responding to market requirements for consolidated view products.
Commenting on the launch, Jarod Hillman, Head of Real Time Data at London Stock Exchange Group, said:
“This month has seen exchanges across Europe announce their commitment to meet the evolving data requirements of the industry. While we welcome statements by groups such as FESE, which has affirmed its members’ intentions to address and deliver post-trade data services towards the end of this year, we feel now is the right time for the London Stock Exchange Group to respond with product-led initiatives, allowing our customers to obtain discrete post-trade data content from the Group’s premier price formation venues, covering 40% of the most liquid European blue chips in the Eurotop 100 index.”
Xavier Rolet, Chief Executive Officer, London Stock Exchange Group, said:
“We strongly believe the market should be working towards industry-wide arrangements to provide greater transparency by harmonising standards, with the aim of improving data quality and comparability. It is also critical, in a dynamic and rapidly evolving environment such as the European post MiFID marketplace, that exchanges respond effectively to developing market needs - by offering our real-time post-trade data for purchase separately from pre-trade data we are doing just that.”
From October 1, professional terminal subscribers will be able to obtain separated real time London Stock Exchange post-trade content for £15 per month with Borsa Italiana available at €4.
The Exchange today further underlined its commitment to more cost effective availability of real time data by also announcing that it is to introduce a new volume discount pricing scheme for licensed distributors of Level 1 content to retail investors, whereby content may be available for as little as 20p per month.