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BX MatchView

Overview

The BX MatchView feed is a real-time direct data feed that provides a view into what the Nasdaq BX execution system sees as the prevailing Best Bid and Offer (BBO) of the other exchanges.

Key Benefits

Benefits of the product include:

  • Allowing firms to more accurately price their orders on the exchange, thereby avoiding price adjustments
  • Helping firms to price their orders more aggressively to narrow spreads
  • Providing a more accurate determination of a firm's display price
  • Offering more efficient access to non-BX exchange quotes by consuming the feeds and doing the calculation for firms, allowing firms to save on bandwidth and resource costs
  • Increasing the quality and integrity of the data we deliver by dually sourcing data from the exchanges and the consolidators
  • Improving fill rates

 

Data Description

The BX MatchView feed utilizes various direct proprietary exchange data feeds in addition to the consolidated UTP and CTA data feeds to provide the prevailing BBO of the other exchanges, as seen by the BX execution system.

BX MatchView utilizes the following data sources:

U.S. Market Primary Data Source*
The New York Stock Exchange NYSE OpenBook Ultra
NYSE Arca NYSE ArcaBook
BATS-Y Exchange and BATS-Z Exchange BATS PITCH
Direct Edge 2013 EDGA and EDGX Exchanges DirectEdge Depth of Book
The Nasdaq Stock Market TotalView-ITCH 5.0
Nasdaq BX BX TotalView-ITCH 5.0
Nasdaq PSX PSX TotalView-ITCH 5.0
NYSE MKT UQDF/CQS
CBOE Stock Exchange (CBSX) UQDF/CQS
Chicago Stock Exchange (CHX) UQDF/CQS
FINRA Alternative Display Facility (FINRA ADF) UQDF/CQS
International Securities Exchange (ISE) UQDF/CQS
National Stock Exchange (NSX) UQDF/CQS

*Backup data source for all feeds will be consolidated Securities Information Processor (SIP) data.

In addition, orders entered by Nasdaq BX market participants with the three designations of Non-Immediate or Cancel (IOC), Day, and Intermarket Sweep Orders (ISO) will continue to be included in the calculation logic of the MatchView product.

Access Options

At this time, Nasdaq BX recommends that firms interested in MatchView process the direct data feed. For detailed technical information, please refer to the Market Data technical specifications page.

Agreements and Forms

Because the feed utilizes various direct proprietary exchange data feeds, MatchView data feed subscribers will be required to comply with the data policies and fees of NYSE Euronext, BATS, Direct Edge and the CTA and UTP plans under the data policies put forth by those exchanges. Nasdaq will be unable to provide customer access to the MatchView data product unless prior written approval is received from each exchange.

U.S. Market Primary Data Source* Datafeed Request Process/Approval Process Exchange Agreement*
The New York Stock Exchange NYSE OpenBook Ultra Nasdaq submits a data feed request on behalf of a customer AFTER the customer provides written notification that they are ordering a MatchView feed via email to DataOps@nasdaq.com or Online or Hard Copy Form NYSE Vendor Agreement- Proprietary Data Products
NYSE Arca NYSE ArcaBook
BATS-Y Exchange and BATS-Z Exchange BATS PITCH Not Applicable Not Applicable
Direct Edge 2013 EDGA and EDGX Exchanges DirectEdge Depth of Book Nasdaq submits a data feed request on behalf of a customer AFTER the customer provides written notification that they are ordering a MatchView feed via email to DataOps@nasdaq.com or Online or Hard Copy Form Direct Edge Market Data Agreement
The Nasdaq Stock Market TotalView-ITCH 5.0 Customer is to submit a Nasdaq DataFeed Request Form to Nasdaq, using either the Online or Hard Copy Form. Nasdaq Global Data Agreement
Nasdaq BX** BX TotalView-ITCH 5.0
Nasdaq PSX PSX TotalView-ITCH 5.0
UTP Level 1 Tape C UQDF/UTDF Customer is to submit a Nasdaq DataFeed Request Form to Nasdaq, using either the Online or Hard Copy Form. Nasdaq Vendor Agreement
CTA Data Tapes A & B Nasdaq submits a datafeed request on behalf of a customer AFTER the customer provides written notification that they are ordering a MatchView feed via email to DataOps@nasdaq.com or Online or Hard Copy Form NYSE Vendor Agreement - CTCQ

*Exchange agreements are only required to be executed if your firm does not already have an agreement on file with that exchange. Each customer is responsible for contacting each exchange independently to determine if an agreement is necessary.

**BX MatchView customers are not liable for the BX TotalView-ITCH fees.

Pricing

Currently there is no charge for this data.

For ordering information, please contact your Nasdaq Global Data Products Account Manager at +1 301 978 5307.