NEW YORK: The New York Stock Exchange and the Nasdaq Stock Market will have greater latitude to increase revenue from the sale of market data, under a US appeals court ruling on Tuesday that dismissed a complaint brought by a group of Internet companies and a trade group for brokers.
The court said the Dodd-Frank law stripped it of jurisdiction in the case, forcing it to rule against the Internet companies, grouped together as the Net-Coalition, and the Securities Industry and Financial Markets Association (SIFMA), a lobby for the banking, brokerage and asset management industry.