SIX Exfeed, the market data dissemination service of SIX Swiss Exchange, is to launch an unbundled post-trade market data feed for subscribers of real-time information.
From Monday, 3 January 2011, users will be able to subscribe to SIX Swiss Exchange's post-trade service for CHF 5 (€3.83) per month.
Trade body the Federation of European Stock Exchanges (FESE), which represents 52 regulated markets in Europe, announced in July that its members had committed to unbundling their data. The commitments were made to support better post-trade transparency and aid the creation of a consolidated tape, which is to be mandated in one form or another by the European Commission in its MiFID review, expected in the first half of 2011.
Werner BÃ¼rki, CEO of SIX Exfeed, said, “The market relies on us to provide customer driven services in order to efficiently facilitate trading on SIX Swiss Exchange. As a FESE member we also stand to our commitment to back consistent and comprehensive equity market data consolidation. This is one of the cornerstones in the alignment process amongst European regulated markets, which will also help us to find a common solution for the standardisation of trade type flags and the harmonisation in the provision of delayed data, which SIX Exfeed offers free of user based charges.”
SIX Group, the parent company of SIX Swiss Exchange, launched a consultation on 2 November to gather industry views on ownership, use and purpose of reference data following protests at its proposed revised fee structure for multilateral trading firms that use its data to offer trading of stocks that are listed on the SIX Swiss Exchange. The firms that complained were trading venues that would have been subject to the fees and one, multilateral trading facility Chi-X, sought regulatory advice on the use of its own lit pool data to form a reference price, instead of that provided by the exchange.