Tuesday, July 31, 2012
Data News #2012 - 13
NASDAQ OMX Introduces New Hardware-Based Option for TotalView-ITCH Data
What you need to know:
What is the offering for TotalView-ITCH?
On August 1, 2012, NASDAQ OMX® will introduce a new NASDAQ TotalView-ITCH equities depth feed product using field-programmable gate array (FPGA) technology. FPGA is an integrated circuit designed to run user specified, high performance business applications and to provide a high degree of parallelism allowing for consistent, deterministic behavior.
How much does the NASDAQ TotalView-ITCH FPGA product cost?
As outlined in NASDAQ Rule 7026, firms subscribing to the NASDAQ TotalView-ITCH FPGA will be subject to the following new distributor fees in addition to the current NASDAQ TotalView® / NASDAQ OpenView distributor and usage fees:
|Distributor Type||Monthly Fee|
|Internal Only Distributor||$25,000 per Distributor|
|External Only Distributor||$2,500 per Distributor|
|Internal and External Distributor||$27,500 per Distributor|
For Managed Data Solutions (MDS) Distributors, firms will be subject to a tiered administration fee based on the number of downstream subscribers benefitting from the TotalView-ITCH FPGA data.
|Distributor Type||Monthly Fee|
|Managed Data Solutions (MDS) Distributor||1 Subscriber = $3,000|
|Additional Subscribers = $500 each|
For direct data feed subscribers*, NASDAQ OMX port fees also apply.
For the existing TotalView / OpenView fee schedule, please refer to the NASDAQ OMX Global Data Products Price List on the NASDAQ OMX Trader® website.
If you have questions about the NASDAQ TotalView-ITCH FPGA fees, please contact your NASDAQ OMX Global Account Manager.
If I am a current TotalView-ITCH subscriber, do I need to migrate to the FPGA offering?
No. The NASDAQ TotalView-ITCH FPGA product is an optional service upgrade for NASDAQ depth data feed subscribers. NASDAQ OMX plans to support the software-based version of the TotalView-ITCH data feed indefinitely.
Where can I locate the TotalView-ITCH FPGA specification document?
Please click here to access the TotalView-ITCH FPGA specification document. Please note that NASDAQ OMX will use the ITCH 4.1 message format and MoldUDP64 protocol standard for the TotalView-ITCH FPGA service.
How do I order TotalView-ITCH FPGA?
If your firm is a current TotalView-ITCH subscriber upgrading to the FPGA product, you only need to complete the Data Feed Request Form. No additional forms or agreements are required.
If your firm is not currently processing the NASDAQ TotalView-ITCH product, you need to complete the following agreements:
- Data Feed Request Form - Required for all firms
- NASDAQ OMX Global Data Agreement - Required for all firms prior to initiation of the first NASDAQ OMX data service only
- System Application - Required for firms only if the data will be displayed or used in a system that is not yet approved by NASDAQ OMX
If you need help with the application process, please contact your NASDAQ OMX Account Manager.
Is TotalView-ITCH FPGA only available only as a direct data feed?
NASDAQ OMX is allowing market data redistributors to use the TotalView-ITCH FPGA product to feed downstream products. Please note, however, that retransmission data feeds and MDS devices sourced from the TotalView-ITCH FPGA feed are subject to the new distributor fees above.
Where can I find additional information?
- Refer to the TotalView-ITCH FPGA - Frequently Asked Questions (FAQ) document.
- Contact NASDAQ OMX Global Data Products at + 1 301 978 5307 #2.
*Direct data feed subscribers may be subject to port fees as outlined in the NASDAQ Transaction Services (NTS) Price List.
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About the NASDAQ OMX Group: The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with more than 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit www.nasdaqomx.com.