Data providers
- Thread starter lwlee
- Start date
Quote from alanm:
Quote from squeeze:
Second, how does this company stop people stealing and redistributing data illegaly? The exchanges are very protective of their proprietary data and will fine/shut down anyone who does not have appropriate controls in place.
I don't see any difference in this regard between them and anyone else. I could build a quote farm to (illegally) redistribute as many symbols as any of my quote sources would provide if I wanted to. I don't see how any API could protect against this and still remain accurate and useful.
I've had their stuff for a couple of weeks, but haven't gotten around to working much with it (the C++ samples are broken and I haven't felt like working on it yet). You only pay for the exchange fees for the markets you need (a few dollars total for US equities and options).
Fees for taking a NASDAQ feed are $250 dollars pa delayed or $500 pa real-time plus the exchange fees on top of this. Many of the exchanges have a reporting procedure that needs to be implemented and have pretty active compliance departments to make sure it is.
As long as they have all this paper work in place then it is fine. Otherwise at some point they are likely to be switched off.
It is because of all the bureaucracy involved with providing feeds and the risk of data being stolen, that most quote vendors only offer terminals.
At the moment I am not aware of any really good middle tier revendors offering a cost effective professional quality service for automated traders.
Quote from squeeze:
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As long as they have all this paper work in place then it is fine. Otherwise at some point they are likely to be switched off.
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My point was "why would you think they would be any different in this regard than any of the other hundreds of data vendors?" They have all the usual agreements that you have to acknowledge/electronically sign, and collect the appropriate exchange fees for those feeds to which you subscribe. Like most vendors, those fees are distinct and separate from the charge for the vendor's platform, which, in OpenTick's case, is zero (for now).
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As long as they have all this paper work in place then it is fine. Otherwise at some point they are likely to be switched off.
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My point was "why would you think they would be any different in this regard than any of the other hundreds of data vendors?" They have all the usual agreements that you have to acknowledge/electronically sign, and collect the appropriate exchange fees for those feeds to which you subscribe. Like most vendors, those fees are distinct and separate from the charge for the vendor's platform, which, in OpenTick's case, is zero (for now).
So where do you go if you just want a feed provider?
You have the large tier 1 aggregators, Comstock and Reuters and then most of the middle tier just offer terminals.
Those that are offering data via the internet are generally using poor and outdated technology to do so.
I think there is a gap in the market at the moment but I don't know if it is a big enough opportunity for anyone to go after.
Please send me a PM if anyone is interested.
DTN is a "large, Tier 1 aggregator" as well. We have large wholesale customers (brokers, hedge funds, etc), in addition to our terminal business (which includes satellite, Internet and telco/network delivery). We have over 80,000 individual subscribers (terminals) receiving market data directly from DTN, while hundreds of thousands receive our data indirectly via our wholesale feeds.
Jay
Yes of course, however your European and Far East market coverage is very limited and your internet delivery technology could also be substantially improved.
What I was suggesting is that there was a market for something half way between a wholesale feed and retail oriented feeds like IQFeed. This service would include robust aggregated VPN delivery via internet, reserved allocated bandwidth for each user at the servers and the ability to set up symbol watch lists supporting 1000s of symbols.
I see. Thanks for clarifying. You are correct that we don't focus on the International exchanges. Due to lack of demand, it wouldn't be cost effective for us to carry many of the feeds.
I'm not sure why you think our Internet delivery could be substantially improved though. We have thousands of users, support more symbols that other products, and are usually as fast or faster. The only thing I am aware of that we need to speed up is the historical data retrieval speed.
We also have a new feed called NxCore which provides data directly from our ticker plant with unlimited symbols in a highly compressed format via the Internet. While this feed is more expensive (it's a wholesale solution that isn't meant for the retail market - although we have some high-end retail users who subscribe to it), it is the most robust feed you can get via the Internet. Many hedge funds are switching to this since they can eliminate their communication costs and get a better feed. This sounds like middle tier service you mention.
Jay