Britain to study prices and competition in financial data -Breaking
LONDON, (Reuters) – Britain’s financial watchdog has announced that it will conduct two market studies to determine the cost of data on wholesale financial markets. This is in response to concerns about “limited competition” regarding benchmarks, indices, and credit ratings.
According to the Financial Conduct Authority, this study will begin in summer and examine whether complex contracts are preventing providers from changing to more affordable, higher quality, and innovative alternatives.
According to the FCA, “By year’s end, the FCA will start a second study in order to evaluate whether excessive charges for credit rating data access are adding cost to investors and restricting new market entrants.”
According to the FCA, it will now gather additional information about competition on wholesale trading markets.
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