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:
- 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.
- 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.
- 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
- 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.