Securities Exchange Subscriber Contracts – Class Action Investigation

Chimicles & Tikellis is investigating a potential class action on behalf of consumers who entered into subscriber contracts with various securities exchanges in order to receive electronic market data services from the securities exchanges.  It has been alleged that the securities exchanges promised consumers that they would provide consumers with market data service in a non-discriminatory manner and provide data that is accurate and current. It has been further alleged that certain securities exchanges entered into separate contracts with “preferred” customers that guaranteed the preferred subscribers would receive their data substantially in advance of the standard subscriber.  It has been further alleged that these “preferred” contracts were never disclosed to the standard customers.

It has been alleged the following securities exchanges have entered into “preferred” and standard subscriber contracts:

  • BATS Exchange and BATS Y-Exchange
  • Chicago Board Options Exchange
  • Chicago Stock Exchange
  • EDGA Exchange and EDGX Exchange
  • International Securities Exchange
  • NASDAQ OMX BX, NASDAQ OMX PHLX, and the NASDAQ Stock Market
  • National Stock Exchange
  • New York Stock Exchange
  • NYSE ARCA and NYSE MKT

If you or someone you know entered into a subscriber contract with one of the above securities exchanges in order to receive electronic market data services from the securities exchange, please use the “Email us about this Case” button to contact the attorneys below.

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