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Quick update... this is moving forward, the setup was approved. This would be currently for independent retail traders at Lightspeed who are already colo'd or willing to, you'd keep your current account. No corps, groups or props. If you fit the description, PM me. Disclosure, i'm not...

I think I can answer this since I asked it myself. In this case, Lightspeed is both broker dealer AND data vendor (as most brokers are). Per their data vendor agreements with the various exchanges they have to contractually agree to submit to audits of how that data is being used. This includes...

@RM - Yea, he means a virtual machine. @2rosy - I mean, yea you could, there are a bunch of ways to hack a solution, but hoping to create something where we don't have to scurry around like rats in less than ideal situations.

For anyone still following this thread, may have a solution: https://www.elitetrader.com/et/threads/non-display-solution.303849/

For anyone getting hit with non-display fees and looking for a solution, pm me. Working on something that may allow us to get these fees reduced but staying within the exchange policy guidelines. Ie, it would be exchange approved or it won't happen. Want to know how much interest there is.

it's going to hurt, i don't condone it. at the same time, it's not my job to play lawyer and pretend i have a legal opinion about this. i'm a trader, it's my job to understand this is real, approved by the sec, and i need to find a solution so i can stay in business.

in the past i traded at a prop where this was standard ops. would take 5 mins to run it against the qa server, all automated. one of the benefits is you got to bake in your 15c35, so there were significant speed advantages. not saying this is standard practice, but if a firm wants to be hardcore...

legal as in, not illegal. not, legal as in, litigious. yes, viable alternatives.

if you don't think bypassing broker/exchange authentication isn't criminal hacking then great, you should do it. you're an adult, i'm sure you can assess the risks. not going to help you do that at this point though. if you want citations so you can assess the risk for this type of thing, you...

think about what you're talking about here terr... literally, a method to hack a broker/vendor api used to authenticate data/execution. this would be a very bad idea. this is no longer misrepresentation, this is criminal hacking. good luck with that if you get caught.

of course you can hack anything... but do you actually want to go through all the trouble? it wouldn't be a 'virus', it would just be part of the authentication process of the API provided by the vendor. it's actually not that uncommon.

what kmiklas said, and programs DO have fingerprints. they hash the binary of your program and use that during the authentication process. if your binary changes, then you're no longer authenticated.

of course it would be easy to fake visually, but what do you do after they leave and only that program can connect to the api? they're not idiots.

The burden of proof is on you and it's way more invasive than some soft-ball questions. In the audit terms of the data plans you agree to unannounced office visits, packet sniffers, etc. In his case, he physically had to show how his program worked, and then only that program's binary could...

If your data is coming from a broker like Lightspeed with an integrated data/order API, then you can expect an audit if you declare display and are pulling data via API. If you don't mind going through an audit process and have nothing to hide, then it should be fine. Before you say, not gonna...

I agree charting is derived data, but it can only be used for DISPLAY PURPOSES. As soon as an automated order gets generated, it's NON-DISPLAY. If there are no automated orders, it's DISPLAY.

There would be one account name for data. I'm thinking of this as a solution for gateway clients. It wouldn't work for APIs connected to the front-end.

Non-display... if after charting the program sends an automated order, then it's non-display.

For everyone who is confused, I get it, the way they worded things, it's confusing, however it's actually pretty simple: If you are receiving a data feed, and are NOT interacting with it on a display, but are programatically using it to place trades, then it's "non-display" data, the end. So...

The docs you supplied are for market data fee assessments for display pricing. There is no professional/non-professional designation for non-display. The exchanges were very careful to leave that out. According to NYSE, any subscriber, firm or individual, using data to make trading decisions...