As a leading vendor of market information, we know the importance of timely and reliable quote and price information to market participants. Investors rely on this information to make investment decisions and evaluate the quality of execution they receive. Broad dissemination of information allows markets to allocate capital efficiently, increases investor confidence and ultimately increases participation in the markets.
Markets benefit in the form of increased trading and greater liquidity.
Twenty-five years have passed since enactment of the current system for dissemination of U.S. equity market information. Since that time, advances in technology have reshaped the way equities are traded. Electronic trading systems now compete with traditional securities exchanges, which themselves are increasingly automated. The Internet has developed into a robust tool for the delivery of information. Yet, the full benefits of technological change have not been reaped in the dissemination of market information.