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SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr. on the Securities and Exchange Commission (SEC) directing equity exchanges and FINRA to improve governance of market data plans:
“SIFMA supports the action taken today by the SEC to order the exchanges and FINRA to update the governance structure of the current equity market data plans. We have long held the view that updates were needed to streamline and make more efficient the distribution of equity market data, which is the lifeblood of the U.S. equity markets. Today’s action is designed to establish a new, single equity market data plan to replace the three that currently exist, thus fostering greater efficiency in the distribution of equity market data. We look forward to reviewing the order and offering the industry’s views.”
