Non-display fees

Thanks for that, not that I am afraid my personal data is passed on to exchanges but out of sheer curiosity I will reread the subscriber agreement. It just sounds odd. Like a bank would pass on my credit details and spending habits to a third party, non regulator without my expressed consent

lspdtrdr said:
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 data API use, names of users, data access policies, etc.

When you as a user create an account at Lightspeed (or other brokers who provide data), you ALSO agree to disclosures when you sign the professional/non-professional subscriber agreements and make declarations on what data you're using.

So, they're not really 3rd parties being supplied private information. They're contractual partners and everyone has agreed, in one way or another, to the disclosures beforehand.
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I have skimmed through all the posts here quickly.

If I understand this fuzz about non display: this applies only to NYSE-listed stocks, not Nasdaq stocks? If I trade only Nasdaq stocks I can still use API with no extra fees?

Sorry if this has been mentioned before, but I couldn't find any info on it.
 
 
Thanks Robert.

If I understand this correctly it seems every firm is one customer. For example WTS is one customer? If they have 50 traders needing level1 quotes the costs will be divided on 50?

Anyway, this news is actually worse than i initially thought.
 
The billing is by firm. If you have a prop group with 100 users, a customer account with an LLC with one user or an individual account, they are all billed the same. When I say billed by firm I don't mean by your brokerage firm, but by the end client. Lightspeed cannot pay once for all of its clients and redistribute
 
Pasternak said:
Thanks Robert.

If I understand this correctly it seems every firm is one customer. For example WTS is one customer? If they have 50 traders needing level1 quotes the costs will be divided on 50?

Anyway, this news is actually worse than i initially thought.
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In this example, WTS would have one MD account at each data provider and get charged for one non-display charge. How they pass that along to their partners is up to them
 
Thanks again Robert for your help:)
I can manage by using delayed data quotes, but I need API for sending orders. Seems like I still have a problem because I use API for sending. Unless my software can allow for sending API without pulling market data, I will still face problems.
 
Delayed MD is anything 15 min or more. Sterling Trader offers a version with an API where no MD is feeding the API, so not non-display. You either get your MD from another source or don't require it.
 
Thanks again, that was good news. I prefer having MD quotes of course (I'm using Sterling), but as it is now I don't know how much it will cost to subscribe to MD from 1st December. Is this the new version 10 allowing API for using no data?
 
What broker do you use now for Sterling? Don't worry about the API non-display fees until your broker contacts you. They will give you a chance to drop the API. I have estimates of fees but don't want to post on ET. I can email you them directly.
 
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