Securities and Exchange Commission have started charging various Websites for showing real-time stock quotes. But the charging of quote fee is not acceptable to the Internet firms. According to Washington Post some of the leading firms like Google Inc. IAC, and Yahoo Inc. have joined hands for petitioning SEC for waving the fee. The firms in a month have been charged from $1 to $75 per user.
This has led to the sites stopping the display of free and live quotes. Markham Erickson, the executive director and general counsel of Internet trade group said “ The fees are being proposed without any justification for how these exchanges are arriving at their fees. We don't think they own the information.” He said that since U.S. Exchanges like Nasdaq and NYSE have become for-profit from nonprofits entities they are looking ways for earning money through the information under their control.
The other partners in the coalition are Cnet Networks Inc., Bloomberg L.P. and many other local Internet providers. NYSE have refused to say anything on the issue.