looking for good *programmatic* real-time options data feed

Quote from tiltstern:

Hi all,

I am a programmer starting a new project which requires a real-time options data feed which I can use programmatically. I would be extremely grateful to get a good recommendation for a feed which meets the requirements I list below. Please note: I am *not* looking for a feed which puts market data up on the screen; I need one for programmatic access only.

Here's what I need:

Technical requirements:
- Java or .NET APIs preferred.
- Push-style (streaming) feed
- Enterprise-level performance and reliability
- Good documentation

Feature requirements:
- Real-time quotes
- Full listing of US options across all US option exchanges
- Quotes for all optionable equities

Business requirements:
- The cheaper the better, but I would pay more for good reason (and please tell me what those reasons might be)
- Easy to work with the provider. Hopefully not a ton of hoops and contracts to deal with.
- Project will start with a development phase followed by institutional rollout. I'd like to keeps costs/hassles to a minimum during the development phase. Also, it would be nice if there was a smooth migration path from one phase to the other.

These requirements are ideal, and perhaps I'd be able to back off some of them so long as the basics are there. If you recommend some feeds that you know don't exactly match, however, I'd be most appreciative if you could be explicit about where they fall short.

Advice or stories about what to do and what not to do, or who to work with and who not to, are very welcome as well.

Thanks in advance!
Michael
More...


If you also plan to submit automated bids and asks be careful. Not all options exchanges allow automated activity. The AMEX, at least, has rules against it. Cancel fees are also prohibitive for some, and the ISE has now proposed tightening the cancel fee with a lower hurdle and increased fines.
 
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