December 21, 2006
It seems to me that market data should be treated as a form of information in the public good and it should be widely available and affordable to ensure market transparency and create a level playing field among all traders and investors—not just institutions and professionals. It needs to be free. By charging for this data, the "big traders" and professionals have a large advantage. This kind of decision can be viewed as a method to give some groups a trading advantage over the "little" guy.
The market place is better for the small players and this is a move to exclude them or reduce the data that they have available to make a decision.