The Desk: Market Data ‘Bill of Rights’ Opens Discussion on Transparency, Accessibility and Ownership

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A week after the UK’s Financial Conduct Authority announced a consultation into buy-side access to data and benchmarks, bond pricing specialist BondCliQ and data accessibility firm MayStreet have published a market data ‘Bill of Rights’.

“There is a lot of controversy right now over what is the right way to provision market data,” says Manisha Kimmel, chief policy officer at MayStreet and a co-author of the report. “Fixed income is different to equities and the US is different to the EU, but we wanted to ask whether there is a standard by which we should be thinking about these transparency initiatives, if we are to solve the most basic of goals?”

The three articles proposed are:
• Article I. The Right to Reliability: Everyone has the right to market data that is objectively accurate and sufficiently comprehensive.
• Article II. The Right to Accessibility: Everyone has the right to receive market data distributed with technical efficiency at fair and reasonable prices.
• Article III. The Right to Timely Publication: Everyone has the right to market data that is released at the same time for distribution to market participants.

To read the full article, click here.