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IOSCO Consults on Issues and Concerns Regarding Market Data

Market participants need information on quotations and trades in order to make informed and competitive trading decisions.

The Board of the International Organization of Securities Commissions (IOSCO) is seeking feedback on a consultation report on issues relating to access to market data in secondary equity markets.

Market data is an essential element of fair and efficient markets. More specifically, market participants need information on  quotations and trades in order to make informed and competitive trading decisions and to comply with certain regulatory requirements. However, participants in many jurisdictions have raised concerns about the content, costs, accessibility, fairness and consolidation of market data.

The IOSCO consultation report on Market Data in the Secondary Equity Markets describes these concerns and asks for industry views on both the issues and possible regulatory responses to them. The report identifies and describes the issues and concerns relating to:

  • The market data necessary to facilitate trading in today’s markets;
  • Fair, equitable and timely access to market data;
  • The interchangeability of market data;
  • Fees for market data;
  • The need for and extent of data consolidation; and
  • Additional products and services related to accessing market data.

IOSCO’s work in this area aims to provide useful information for jurisdictions considering their supervisory and regulatory approach to market data. IOSCO welcomes comments on and responses to the questions in this consultation report on or before 26 February 2021.

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