US Exchanges are a monopoly
- Thread starter nitro
- Start date
Ok this is what it costs at the time of this writing to get a feed to the CHX. The port cost is ridiculous. The rest of it is not unreasonable.
It is incredible that soon there won't be a way for an API to get market data on equities without spending hundreds of dollars a month, for data!!
What a farce.
Fee Schedule of the Chicago Stock Exchange, Inc.
Page
4
D. Connection Charges
Port charge
$400/month
2.
Cross Connection Charges
–
Physical Connections
(a)
Carrier equipment connection to customer equipment
:
POTS line (2 wire)
$50 (one time fee); $10/month
ISDN line (2 wire)
$50 (one time fee);
$10/month
T1 (4 wire)
$75 (one time fee); $20/month
Ethernet network cable
$125 (one time fee); $25/month
(b)
Customer equipment connection to CHX equipment
:
1G Connection
$150 (one time fee); $100/month
10G
Connection
$1000 (one time fee); $500/month
It is incredible that soon there won't be a way for an API to get market data on equities without spending hundreds of dollars a month, for data!!
What a farce.
Fee Schedule of the Chicago Stock Exchange, Inc.
Page
4
D. Connection Charges
Port charge
$400/month
2.
Cross Connection Charges
–
Physical Connections
(a)
Carrier equipment connection to customer equipment
:
POTS line (2 wire)
$50 (one time fee); $10/month
ISDN line (2 wire)
$50 (one time fee);
$10/month
T1 (4 wire)
$75 (one time fee); $20/month
Ethernet network cable
$125 (one time fee); $25/month
(b)
Customer equipment connection to CHX equipment
:
1G Connection
$150 (one time fee); $100/month
10G
Connection
$1000 (one time fee); $500/month
Brad Katsuyama Q&A: ‘I Don’t Think We Would Have Survived If It Was Just Hype’
By Matt Levine | October 12, 2016
Photographs by Celeste Sloman
From
Stock exchanges are part of the plumbing of Wall Street, and the details of how they’re run have never exactly captured the public imagination. That changed with Brad Katsuyama, 38, the co-founder and chief executive officer of IEX, who brought equity market structure to the mainstream as the hero of Michael Lewis’s book Flash Boys. Katsuyama was working as a trader at the Royal Bank of Canada, helping big investors buy stock, when he noticed it was getting increasingly difficult to do so without moving the price. As he investigated, he came to the conclusion that stock exchanges weren’t always looking out for investors’ interests and the market favored high-frequency traders at the expense of long-term investors. (In Lewis’s words, the market was “rigged.”) This led Katsuyama to start IEX, an exchange with a “speed bump” designed to slow down high-frequency traders on behalf of longer-term investors. After a grueling application process full of fierce resistance, IEX’s Investors Exchange gained approval from the U.S. Securities and Exchange Commission in June. “We just wanted a chance to compete,” says Katsuyama, who spoke with Matt Levine of Bloomberg View about the nuances of market structure shortly after the exchange went live in September.
...
https://www.bloomberg.com/features/2016-brad-katsuyama-interview/
By Matt Levine | October 12, 2016
Photographs by Celeste Sloman
From
Stock exchanges are part of the plumbing of Wall Street, and the details of how they’re run have never exactly captured the public imagination. That changed with Brad Katsuyama, 38, the co-founder and chief executive officer of IEX, who brought equity market structure to the mainstream as the hero of Michael Lewis’s book Flash Boys. Katsuyama was working as a trader at the Royal Bank of Canada, helping big investors buy stock, when he noticed it was getting increasingly difficult to do so without moving the price. As he investigated, he came to the conclusion that stock exchanges weren’t always looking out for investors’ interests and the market favored high-frequency traders at the expense of long-term investors. (In Lewis’s words, the market was “rigged.”) This led Katsuyama to start IEX, an exchange with a “speed bump” designed to slow down high-frequency traders on behalf of longer-term investors. After a grueling application process full of fierce resistance, IEX’s Investors Exchange gained approval from the U.S. Securities and Exchange Commission in June. “We just wanted a chance to compete,” says Katsuyama, who spoke with Matt Levine of Bloomberg View about the nuances of market structure shortly after the exchange went live in September.
...
https://www.bloomberg.com/features/2016-brad-katsuyama-interview/