Data feed standardisation

A bit of a rant: am totally fed up with vested interests in the real-time data industry which results in a small pool of providers (did anyone say borderline monopolistic) and business practices which ensure a lack of inter-operability between different client applications. IMO, the real conflict here is data providers trying to move into the client application space. 20th Century business practices for a 21st Century world.

I've been watching similar developments in the digital entertainment space, where many of the same factors have been playing out, while all we'd really like as consumers is a set of common standards which allow us access to the content we already own on whichever devices we also own.

It's only taken Hollywood, broadcasters and consumer electronics manufacturers around 15 years to wake-up to overwhelming consumer desire, whilst also safeguarding its business models. Content portability and inter-operability is now seen as something which will benefit both, so initiatives like UltraViolet have emerged (though sadly that doesn't stop Apple from continuing to do its own thing). It's early days yet, but financial data providers would do well to begin modernising their archaic business practices.

So circling back to the original point, when are market data providers going to focus on the bigger long-term win? The point being, by making your data fit to a common standard which may be used by any end client application, you'll a) at a stroke broaden your potential client base; b) make all of your clients happy; c) succeed on the quality and value of your service.