BX Options Top of Market
BX Options Top of Market is an option feed designed to provide the BX Options Best Bid and Offer and last sale information directly to subscribers. It should be noted that Nasdaq BX Options provides this same information to the Options Price Reporting Authority (OPRA) for inclusion in the consolidated market feed. However, by subscribing to BX Top of Market directly, BX Options Market participants can eliminate any extra transmission and processing latencies introduced by the Securities Information Processor. By taking the data directly from the source, firms are able to process this data faster, giving them a competitive advantage against those taking it from OPRA.
Benefits & Features
- Eliminates extra transmission and processing latencies.
- Assists BX Options Market participants in tracking their quotation positions and complying with Securities and Exchange Commission (SEC) and Nasdaq BX marketplace rules.
- Provides investors and traders with a bird's-eye view into Nasdaq market participants' quotation activity and market momentum.
- Ability to create real-time display options with a manageable set of data without having to consume an oversized data set.
- Via Nasdaq Direct Data Feed Products: Trading firms and market data vendors may create a real-time display by processing direct Nasdaq data feed products. For detailed technical documentation for Nasdaq direct products, please refer to the Market Data technical specifications page.
- Via Market Data Vendors: Individual investors and traders may access real-time data through a number of authorized Nasdaq market data distributors. Market data distributors provide both display devices and data feed products containing Nasdaq real-time data. Refer to the Market Data Vendors page for a complete list of companies.
PricingPlease refer to the U.S Derivatives Price List for pricing information.
Agreements & Forms
To initiate this data on a data feed, firms must submit the appropriate documentation and receive prior approval from Nasdaq:
- Data Feed Request Form - Required for all firms
- Nasdaq Global Data Agreement - Required for all firms prior to initiation of the first Nasdaq 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
For the complete list of Nasdaq and UTP market data agreements and forms, please refer to the Nasdaq Global Data Products Agreements and Forms page.
To order this data on a stand-alone terminal/controlled display product, end users or end-user firms should contact their market data vendor for the appropriate agreements and forms.