Data production by market infrastructures and AI developments

Financial market infrastructures, including stock exchanges and other trading platforms, produce and distribute large parts of data needed by the financial community. Such data may refer to trading activity, to listed companies as well as to indexes and benchmarks widely adopted by investors. The demand for these data is rapidly soaring, thanks also to the development of AI financial applications. This chapter shed light on how data are produced and distributed, which limitations and privacy rules apply, how their ownership is regulated, what kind of pricing policies are applied and how the access is guaranteed to different types of market players. The final aim is to deepen the understanding of the economics of data production and vending in the light of AI developments, their potential opportunities and drawbacks.