Say Hello to Real-Time Equity Pricing Data (with No Exchange Fees!)

Chelsea Caltuna
October 18, 2021

If you run any type of investing platform, you need accurate real-time market data. Typically, you would have three options for real-time equity pricing data:

  1. Get it directly from the Consolidated Tape Association (CTA). This data offers low latency access to the NBBO across exchanges, but costs five figures a month along with complicated per-user fees. Also, companies aren’t legally required to use prices directly from the CTA unless a customer is making a transaction using the market price represented.
  1. Get it from a single large exchange (such as NYSE), which has sufficient volume and low drift from the NBBO but is still expensive, with exchange fees, delivery fees, and per-user fees that are difficult to administer.
  1. Get it from a single low-volume exchange such as IEX, which is cheap to access and has little to no exchange fees, paperwork, or per-user fees. However, those exchanges have low volume, which results in a large drift in last sale prices from the NBBO.

You probably see the pattern: high quality and high cost vs. low quality and low cost.

Intrinio’s Multi-Exchange feed creates an intermediate solution that combines data from the IEX and MEMX exchanges for higher liquidity (6%+) and better accuracy. The Multi-Exchange feed provides approximately twice the market volume of either exchange individually.

With the Multi-Exchange feed, you get:

  • Reduced drift from NBBO
  • No exchange fees
  • No per user fees
  • No permissions or authorizations
  • No registering with exchanges
  • Little to no paperwork     

Our Multi-Exchange feed is available via our powerful Web API (a request/response-based method) and WebSocket (a push delivery system which streams every update). The following datapoints are included:

  • Ask & bid price (best between exchanges)
  • Volume (sum across exchanges)
  • Last sale
  • Timestamp
  • Open, high & low

When you become a Multi-Exchange customer, you’ll also enjoy all the other perks of being an Intrinio partner, such as:

  • An in-house ticketing system for technical issues and 5 day/week live chat 
  • Direct email and phone access to your customer success team
  • Technical support from our CTO and engineering staff  
  • Data sourcing services from our business development manager  
  • Marketing and promotional initiatives with our marketing team   

Visit our website to learn more about our Multi-Exchange feed and request a consultation with our team.

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