Banks, clients tussle over what it will cost to gain access to market research

London

JUST months before banks stop giving trading clients market research for free, they are still locked in discussions about how much to charge.

As a European ban on bundling research with brokerage services looms, banks are sounding out asset managers and hedge funds on what they'd be prepared to pay. Money managers say they are getting quoted US$50,000 for a basic package from JPMorgan Chase & Co's fixed-income analysts. But no firm is allowing itself to be pinned down quite yet.