Falling Volume Pushes Direct Edge to Market Data, Hochron Says
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Direct Edge Holdings LLC, the fourth-biggest operator of U.S. stock exchanges, is turning to market data to drive revenue as industry volume slows, according to Chief Technology Officer Richard Hochron.
“We’re now focused on market data and trying to create value for our clients there,” Hochron said today at the Bloomberg Enterprise Technology Summit hosted by Bloomberg Link. “We’re becoming less and less dependent on the transaction volumes for our major source of revenue.”