I'm trying to compare the minimum cost of subscribing to primary sources of real-time market data on NYSE and NASDAQ for last sale and level 1 top-of-book quotes.
Use cases are log to files, store history in a database, process messages and historical data to submit orders via broker API.
I'm a non-professional user, i.e. I don't work for a financial services company and I trade on my own account.
As of January 2021:
$500Indirect Access Fee
$3,500Non-Display Use on its own behalf (other than for purposes of an ETS)
- CTA (only Network A):
$750Indirect Data Access Charges for Network A Last Sale Output Feed
$1,250Indirect Data Access Charges for Network A Bid-Ask Output Feed
$2,000Non-Display Use Fee Network A Last Sale
$2,000Non-Display Use Fee Network A Bid-Ask
$1,500BBO General Access Fee
$1,500BBO Category 3 Non-Display Fee
$100BBO Per User Access Fee
$1,500Trades General Access Fee
$3,000Trades Category 3 Non-Display Fee
$100Trades Per User Access Fee
- NASDAQ - Not sure if Basic can be Non-Display
The least expensive feed in terms of subscription fees is UTP at
$4,000 which is expensive.
Are there better options, i.e. something that costs
$500 but a few milliseconds of latency?