While Bloomberg overtook Reuters in terms of 'market data' revenues a few years ago Reuters has, until now, maintained a clear lead in terms of total revenues. *(NB Total revenues for the year ended December 31, 2006 include other offerings such as transactional services and sales of software solutions. Please also note that Bloomberg figures are estimates)

The 2007 edition of Inside Market Data Reference is now available -- David Anderson will be presenting highlights of the detailed market sector analysis at the North American Financial Information Summit in New York next week on May 2nd.

Market Share and Size
The research will show that the overall market for 'Market Data' has grown from $11¼ billion at the end of 2005 to a robust $12½ billion for 2006, which translates to 11% growth.

• Bloomberg have 33% share, Reuters 23%, Thomson 11% with others taking the remain 33%

Growth -- Showing the Changing Face of this Sector
Strong growth from Bloomberg over recent years explains how they have closed the gap with Reuters. But Reuters' growth is showing signs of acceleration, giving Tom Glocer and his colleagues cause for optimism.

• Market Data revenues for Bloomberg grew by 15%, Reuters by 9%, Thomson by 5%, Interactive Data grew by 14%.

Context and the Future
The financial markets that all these companies serve thrive on volatility; constant change and ever increasing diversity underpin the markets. Future success requires an agile strategy and nimble but effective execution -- how many companies in this sector can lay claim to even one let alone both of these attributes. The most dangerous threats to the majors in this market will likely not come from each other, but from aggressive and agile minnows such as FactSet and the unquoted Markit. Bloomberg, now a giant of the industry, was once a plucky minnow that the giants of old underestimated; wow betides anyone if they make the same mistake.

The shift towards ever more automated trading, the increasing importance of technology solutions and to some degree the unknown consequences of key legislation such as MiFID and RegNMS, all contribute to the shifting sands beneath the feet of companies serving the financial markets. Talk of 'dark trading floors', where computers occupy the space once full of noisy traders, may be premature. But the needs of the market place will be a little different in 2007 and perhaps unrecognizable in 2017.

For more information please contact Inside Market Data Reference executives:
David Anderson, Editor                                
Tel: 01444 473131

Lee Hartt, Publisher
Tel: 020 7484 9907

About Incisive Media
Incisive Media is a fast growing specialist business information provider operating in core markets including financial risk management, capital markets, trading technology, retail investment, insurance, mortgage, legal and private equity. The Group delivers key information to defined target audiences across a variety of platforms including magazines, conferences and exhibitions, websites, newsletters, books, training and contract publishing. Our range of products can be relied upon to provide timely, accurate analysis and technical commentary on the latest developments in a digestible, unbiased format.

About Inside Market Data Reference
Inside Market Data Reference is the information industry's only source of comparative business intelligence, featuring current and historical statistical and analytical information. It is the benchmark report of the business and financial issues facing consumers, producers and suppliers of market data.