If this is for trading US option markets, have you seen the new non-display market data fees for 2015?
NYSE U.S. Market Information Non-Display Use Policy: Effective January 1, 2015
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.
Examples of Non-Display Use are, but are not limited to:
Any trading in any asset class
Automated order or quote generation and/or order pegging
Price referencing for algorithmic trading
Price referencing for smart order routing
Operations control programs
Investment analysis
Order verification
Surveillance programs
Risk management
Compliance
Portfolio Valuation
NYSE OpenBook $6,000
Nasdaq Totalview $4500
OPRA $500