Investment firms must publish their top five venues/brokers.
The asset manager has investment teams consuming research globally.
MiFID II unbundling is prompting firms to integrate alternative data.
The number of instruments in the Trax database has expanded to 15 million records.
Predata uses alternative data and machine learning.
Platforms need to interoperate across market infrastructures.
Reports from systematic internalisers have not been transparent.
Participants are concerned over recent increases in market data fees.
Free FICC research undercuts independent providers.