Bloomberg gains as spend falls


NEW YORK – Competition for business is heating up in the market data industry as budget and staff cuts force a decline in industry spend, according to research released this week.

The financial industry will spend $22.7 billion globally on market data and related services this year, a decline of 1.5% from $23 billion in 2008, primarily as a result of budget and staff cuts at end-user firms that have led to reductions in data terminals, according to research released by Burton-Taylor

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