The London Stock Exchange Group said UBS AG became the first international bank to begin directly reporting market data usage, in real time.

UBS is reporting live its usage of London Stock Exchange and Borsa Italiana data to the exchange group. UBS continues to report usage to market data vendors, as well.

"London Stock Exchange now offers a per-user data model that is administratively easy and commercially efficient. The enterprise framework, scalable and flexible, is consistent with best practice examples worthy of promotion world-wide," Robert Barnes, Managing Director, Equities at UBS, said.

The group intends to enter into similar arrangements with other users of market data, as well as establish standards for the practice with trade associations that represent other exchanges, vendors and users.

The new LSE market data agreement calls for: 

  • reporting directly to LSEG all their global internal display usage of London Stock Exchange and Borsa Italiana data, regardless of how it is sourced;
  • adopting a user-based ‘unit of count', allowing firms to only pay one set of exchange fees for an internal user who receives the same data from two, or more, sources;
  • achieving greater flexibility when implementing real-time market data solutions, by removing the cost of paying new additional exchange fees for each new data source.

The LSE Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering pan-European and US lit and dark equity trading.