---
title: Bringing Transparency to Equity Research Costs - Bloomberg Tradebook
description: Bringing Transparency to Equity Research Costs - Bloomberg Tradebook
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 04.02.2015

 By Terry Flanagan

 From The Markets

# Bringing Transparency to Equity Research Costs - Bloomberg Tradebook

 04.02.2015 By Terry Flanagan

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In December 2014, the European Securities and Markets Authority provided draft guidance to asset managers about how they should pay for equity research used by clients. At the heart of widespread industry debate is ESMA’s recommendation that asset managers pay for research from a separate research payment account and that research charges be agreed upon in advance.

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