New exchange licensing changes are pushing costs further down the market data supply chain - Alpha Analitica helps buy-side and sell-side firms fight back NEW YORK, July 23, 2026 /PRNewswire/ -- Market data has always been one of the largest recurring line items on a financial firm's technology budget. Now, a new wave of exchange fee changes is set to push those costs even higher — and Alpha Analitica, a market data cost-optimization firm, says the moment calls for the industry to rethink how it manages data spend rather than simply absorb the increases. Exchanges Are Rewriting the RuleREAD FULL ARTICLE