发布时间：2007.7

摘要

The Global Market Data Industry is in a state of flux. New demands are being placed on vendors and data suppliers by the growth of new technologies and new demands from end users. What was once a market to supply real time data to end user terminals has expanded into a market to also supply data at the enterprise level, reference data and associated software.  New pressures are forcing industry consolidation but also opening the market to new types of data supplier.
  
This is the first year that IRN has published The Global Market Data Industry. 

The report includes market sizes, trends, and characteristics for the global market, including forecasts for the next five years, detailed market segmentation, a review of the forces driving change in the market and a Porter’s Five analysing the competitive landscape.

目录及图表

1 INTRODUCTION 6

2 EXECUTIVE SUMMARY 7

3 THE MARKET TODAY 12
3.1 Market Size 12
Table 1: The Global Market for Market Data and Information, (US$m), 2002-2006 12
3.1.2 Pure Data Market 12
Table 2: The Global Market for Pure Market Data and Information+, (US$m), 2002-2006 12
3.2 Market Segmentation 12
3.2.3 By Data Type 12
Table 3: Segmentation of the Global Data Market by Data Type (US$m and %) , 2004-2006 13
3.2.2 By Asset and User 14
Table 4: The Segmentation of the Global Data Market by User Group/Asset Class, (US$m and %), 2006 15
3.2.3 By Geographic Area 15
Table 5: The Geographic Profile of the Market Data Industry (US$m and %), 2004-2006 16
3.3 Competitive Landscape 16
Table 6: The Largest Players in the Market Data+ Industry (% of revenue), 2005-2006 17
3.3.2 Data Vendor Profiles 17
3.3.2.1 Bloomberg LP 17
3.3.2.2 Reuters Corporation PLC 19
3.3.2.3 Thomson Corporation 20
3.3.2.4 Interactive Data Corporation (IDC) 22
3.3.2.5 Dow Jones & Company 23
3.3.2.6 Factset Research Systems Inc 24
3.3.2.7 Telekurs Group 25

4 FUTURE MARKET DRIVERS 27
4.1 External Business Environment 27
4.1.1 Globalisation and the Rise of emerging market economies 28
4.1.2 Multi-Asset Trading 29
4.2 Internal Business Environment 30
4.2.1 Industry consolidation 30
4.2.2 Demutualisation and data commercialisation 32
4.2.3 Changing client requirements 32
4.2.3.1 The Quest for Low Latency Data 33
Table 7: Reuters Market Data Revenue+ (£m and %), 2004-2006 33
4.2.3.2 Reference Data and Data Integration of Growing Importance 34
4.2.4 Customised data 36
4.2.4.1 A transparent pricing structures and contract terms. 36
4.3 Economic Developments 37
4.3.1 Global economic growth 37
Table 8: Global Economic Prospects, 2005-2008 38
4.3.2 Growth in trading volumes 38
Table 9: Trends in Global Stock Exchanges+ (US$bn and %), 2001-2006 39
4.3.3 Changes in commodity prices 39
4.4 Technological Developments 39
4.5 New Regulations Force Changes 41
4.5.1 More Electronic Trading 41
4.5.2 Data Source Fragmentation 42

5 FUTURE MARKET SIZE AND SEGMENTATION 46
5.1 Industry revenues 2007-2011 46
Table 10: The Global Market Data Industry (US$bn and %), 2007-2011 46
5.2 Changing regional segmentation 46
Table 11: Estimates Breakdown of the Global Market Data Industry (US$m and %, 2006-2011 47
5.3 Changing segmentation by type of data 47
Table 12: Estimated Breakdown of the Global Market Data Industry (US$m and %), 2006-2011 48

6 FUTURE EXCHANGE STRATEGIES 49
6.1 New Data Strategies 49
6.1.1 Commercial Model Dominates 49
6.1.2 Data Vendor 50
6.1.3 The search for scale 52
6.1.4 Depth, Latency and History: The Shape of Products To Come 52
6.1.4.1 Historical Opportunity 52
6.1.4.2 Low Latency Feeds 53
6.2 New Pricing Models: End of the Traditional Pricing Model? 54
6.2.1 The Traditional Model 54
6.2.2 New Pricing Models 55
6.2.3 4. New Opportunities 57

7 COMPETITIVE LANDSCAPE 59
7.1 Exchange Vendor Environment 59
7.1.1 The Bargaining Power of Exchanges 59
Table 13: Breakdown of the Global Data Market+ by Distribution Channel, 2005-2006 60
7.1.2 The Bargaining Power of Vendors Relative to Exchanges 61
Table 15: The Number of Vendors Used by major Exchanges, 2006 62
Table 16: Summary of the Bargaining Power of Vendors Vis-à-vis Exchanges 63
7.1.3 The Threat of New Entrants to Exchanges 63
Table 17: Estimates Breakdown of the Direct Sales of Data from Supplier to End User, 2006 64
Table 18: Summary of the Threat of New Entrants to Existing Exchanges 65
7.1.4 The Threat of Substitutes 65
Table 19: Summary of the Threat of New Substitutes to Exchange Data 66
7.1.5 Competitive Rivalry between Existing Exchanges 66
Table 20: Summary of the Competitive Rivalry between Exchanges 68
Figure 1: Summary of the Competitive Rivalry between Exchanges and Vendors 69
Vendor-end user environment 70
7.1.6 The Bargaining Power of  Vendors 70
Table 21: Breakdown of the Vendor Market+ by Size of Vendor (% of value sales), 2005-2006 70
7.1.7 The Bargaining Power of End Users 71
7.1.8 The Threat of New Entrants 72
Table 24: Summary of the Threat of New Entrants to Existing Vendors 74
7.1.9 The Threat of Substitutes 74
Table 25: Summary of the Threat of New Substitutes to Vendor Data 75
7.1.10 Competitive Rivalry between Existing Vendors 75
Table 26: Estimates Market Share of the Vendor Segment of the Market+ by Vendor (% of value sales), 2005-2006 76
Table 27: Summary of the Competitive Rivalry between Vendors 76
Figure 2: Summary of the Competitive Rivalry between End Users and Vendors 78