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Nasdaq Smart Options NBBO and Conflated Feeds

New Alternatives to Receive OPRA Data

Overview

The Nasdaq Smart Options NBBO and Smart Options Conflated data feeds are designed to provide a more efficient, low bandwidth alternative to the full Options Price Reporting Authority (OPRA) data feed while still delivering the necessary dataset that firms require for options trading.

Never before have there been so many great opportunities to receive Options data from Nasdaq. Choose the format that best fits your needs.

View the fact sheet here.

Smart Options NBBO and Trade Feed Benefits & Features

The Smart Options NBBO and Trade feed supports NBBO and Trade messages as well as administrative messages for all listed options Individual BBO data is not included to help you save over 80% of the bandwidth from the full native OPRA feed.

  • Allow firms to realize over 80% bandwidth savings over the standard OPRA data feed.
  • Reduce operating costs to support OPRA data.
  • View the same critical best bid and offer, trade data and administrative messages without consuming the full OPRA dataset.
  • Enable firms to better manage constantly increasing data rates. OPRA message rates are projected to exceed 31 billion messages per day by January 2019.
  • Access the Smart Options data from Nasdaq NY Metro area data centers.
  • Smart Options Conflated Feed Benefits & Features

    The Smart Options Conflated feed is a solution offering the native OPRA NBBO and Trade data in a 500 millisecond time interval. Additional time intervals may be available in the future, based on customer demand. Receive access to all Options data with reduced bandwidth and delays.

    • Allows firms to receive bandwidth efficiencies from the OPRA native feed
    • Data disseminated in the native OPRA format
    • Includes Quote, Trade and NBBO Data for all Options symbols
    • Compatible with Open Solutions such as Open Source Middleware Agnostic Messaging API (OpenMAMA), Thomson Reuters RMDS and ORC

    Pricing

    Please contact your Market Data Sales representative for pricing information.

    Agreements & Forms

    To initiate this data, firms must submit the appropriate documentation and receive prior approval from Nasdaq:

    • System Application - Required for firms only if the data will be displayed or used in a system that is not yet approved by Nasdaq.

    For the complete list of Nasdaq market data agreements and forms, please refer to the Nasdaq Global Data Products Agreements and Forms page.

    Please note that firms wishing to subscribe to this product must have the necessary agreements in place with OPRA and provide proper usage reporting as requested by OPRA.