Exchanges, SIFMA go to SEC trial in battle over market data fees

April 20, 2015 6:36 PM

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WASHINGTON, April 20 (Reuters) - Wall Street's leading trade group went to battle on Monday against two top U.S. stock exchanges, arguing they should not have leeway to hike the fees they charge traders to access crucial proprietary equity market data.

In a hearing before a Securities and Exchange Commission administrative law judge, an attorney for the Securities Industry and Financial Markets Association (SIFMA) tried to undercut testimony from an employee at Intercontinental Exchange's NYSE Arca.

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