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What is important is who it is, not what it is
The new firm’s stated aim is to offer a simple trading model with basic order types, the latest technology and a simple, low cost fee structure; but just how it plans to do so remains unclear. It has nine members: Morgan Stanley, Fidelity, Citadel Securities, Bank of America Merrill Lynch, Charles Schwab, E*Trade, TD Ameritrade, UBS and Virtu. There are many notable absentees, including Goldman Sachs and Citi.
Data feed margins: This is about market data, not transaction fees
Revenues at the incumbent exchanges have grown by 5.4%Thanks for your interest in Euromoney!
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