More firms set to cut back on data outlay for next year

Financial firms’ relentless push to boost their data offerings received a check this week with the release of an industry survey that indicates a decline in market data spending in 2021.

The report, conducted by Burton-Taylor, anticipates a marginal decline in the amount spent on financial data next year. The consulting firm, part of TP ICAP’s Data and Analytics Division, found that 33.7% of respondents expected their outlay on data to fall by more than 2%, while 8.5% expected a drop of 6% or more.

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