04.18.2022

Spending on Financial Market Data Reaches Record

04.18.2022

Global spending on financial market data and news continued its decade-long growth streak with revenues jumping 7.4% to a record $35.6 billion in 2021. Although real-time trading and data spending accounted for the largest share of total revenues, strong demand for Pricing, Reference and Valuation data drove spending according to a new report published today by Burton-Taylor International Consulting, part of TP ICAP’s Data & Analytics division.

Growth was consistent across all global regions, with market data spending in the Americas increasing by 8.1% in 2021, just slightly outpacing the 6.7% rate in EMEA while spending in Asia grew by 6.6%. Market data spend in the Americas accounted for 55.1% of the global total, with EMEA and Asia accounting for 26.2 % and 18.7% of the total, respectively.

Bloomberg continues to claim the largest share of the global market data business, followed by Refinitiv and S&P Global Market Intelligence. Morningstar reported the sharpest revenue growth in 2021, followed by Moody’s Analytics and Refinitiv.

“As the uses of market data have extended beyond the trading desk into the middle- and back-office functions, budgets of investment banks and asset managers are increasingly inelastic”, says Robert Iati, Managing Director at Burton-Taylor.  “The new forms of data delivery that emerged during previous years’ lockdowns, such as more flexible data feeds and growth in mobile solutions, have found a place in all businesses, boosting the business for market data providers.”

Source: Burton-Taylor International Consulting

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