The CME has been accused of misusing its power, after the exchange announced plans to start charging fees for data that had been free — including data that is in the public domain and for which they don’t own the copyright.
In addition, the CME wants to require redistributors to turn over details about their customers.
What effect will this have?
Higher market data costs for everyone, for a start.
This dramatic change from how other major exchanges around the world handle such data is being challenged, however.
Exchange Data International (EDI), is crying foul. EDI has written to the Commodity Futures Trading Commission (CFTC), the heads of the relevant Committees of the US House of Representatives, and the US Senate – which oversee the CFTC – requesting they investigate the CME’s plans to charge for what has always been a no-fee service. Legal advice taken by EDI views the CME’s new fee policies as illegal, anti-competitive, and extremely disruptive.
You can read more details here, then tell me what you think.
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Tom Myers is the founder of Data In Harmony (DIH), who offers complete & accurate financial data that is globally sourced, reliably delivered under user-friendly license terms, and for a price that fits your budget. DIH also provides a wide variety of alternative data, as well as data engineering tools.