Enormous charges for data coming?

[Robert Morse]

This will be the end of retail, if it happens.

Many of our Gateway and API clients have chosen to focus on just NASDAQ which is reasonable vs the NYSE.

 

[WeToddDid2]

That will never catch on. Willing to make a bet?

You can look at fees here:

http://www.nyxdata.com/Docs/Market-Data/Pricing

 

[Robert Morse]

You can look at fees here:

http://www.nyxdata.com/Docs/Market-Data/Pricing

Could not be more confusing. That list does not even break down Raw from Normalized data.

 

[Zzzz1]

That is for firms that directly access their market data from NYSE. This is not the pricing for a retail client that cannot connect directly to the NYSE anyways.

You can look at fees here:

http://www.nyxdata.com/Docs/Market-Data/Pricing

 

[Zzzz1]

hmm, so only firms who are audited need to change? Its not an official contractual change?

We were audited by the NYSE so had to comply. Others will have to also. Just a matter of time.

 

[sle]

I thought this was going to matter for the DMA players only, no? A cursory explanation was that these new charges were for raw data access.

 

[Robert Morse]

Zzzz1,

You tend to make conclusions from my statements that I do not say, so I'm just going to refer you to the attached document. This is NYSE Market data policy that they are trying very hard to enforce. This was not our call and we fought them very hard for months.

Non-Display Use Definition: Non-Display Use of real-time NYSE Market Information means accessing, processing or consuming NYSE Market Information, delivered via direct and/or Redistributor (defined below) data feeds, for a purpose other than in support of data recipient’s display or further internal or external redistribution.

You might then ask, what is the definition of real-time. We and others, said that only Raw data is real-time and any normalized data is delayed. The NYSE then defined real-time as any MD delayed less than 15 min.

 

[Zzzz1]

You are the only one among all other sponsors and data providers who talks about this non-display fee, and you have done so several times now. No other firm talks about it nor charges a penny for non-display fees. (Not saying it will never come but as of today you guys are an exception, for whatever reason)

Zzzz1,

You tend to make conclusions from my statements that I do not say, so I'm just going to refer you to the attached document. This is NYSE Market data policy that they are trying very hard to enforce. This was not our call and we fought them very hard for months.

Non-Display Use Definition: Non-Display Use of real-time NYSE Market Information means accessing, processing or consuming NYSE Market Information, delivered via direct and/or Redistributor (defined below) data feeds, for a purpose other than in support of data recipient’s display or further internal or external redistribution.

You might then ask, what is the definition of real-time. We and others, said that only Raw data is real-time and any normalized data is delayed. The NYSE then defined real-time as any MD delayed less than 15 min.

 

[FSU]

You are the only one among all other sponsors and data providers who talks about this non-display fee, and you have done so several times now. No other firm talks about it nor charges a penny for non-display fees. (Not saying it will never come but as of today you guys are an exception, for whatever reason)

Actually I have been contacted by my execution platform company and my introducing broker as well. I have a program that they thought may be impacted by this rule and I had to answer a number of questions before it was determined that I was ok.

 

[Zzzz1]

what made you be ok?

Actually I have been contacted by my execution platform company and my introducing broker as well. I have a program that they thought may be impacted by this rule and I had to answer a number of questions before it was determined that I was ok.