Nasdaq, NYSE Win Court Battle With SEC Over Market Data

-0 cStoSw">A federal court partially rejected a Securities and Exchange Commission plan to loosen stock exchanges’ control over public market-data feeds, handing a victory Nasdaq and the New York Stock Exchange.

In a ruling released Tuesday, a three-judge panel of the US Court of Appeals for the District of Columbia Circuit found that the SEC had exceeded its authority under federal law when it overhauled the governance of data feeds. 2020 order was issued.