Cboe Global Markets is providing its real-time stock quote and trade information data feed to small retail brokers at lower fees as the company expands its “Data Recipients” who provide the product to non-professional users.
The firm says the new program caters to small brokers and the individual investors they serve and was a result of high demand from small market participants looking to consume the data on a single platform.
The relationship will see qualified broker dealers offering customers the Cboe One Summary Feed, which delivers a unified view of the aggregated quotes and trades for the . To qualify for the new program, at least 50 percent of the brokerage’s subscribers must be non-professional investors, provided that the total number doesn’t exceed 5,000 users.
At only $3,500 per month, retail brokers can subscribe to the full package and offer their investors bid and offer quote and last sale trading information across all Cboe US equities exchanges.
Cost-effective quote and trade information
The Cboe One Summary Feed is a that provides reference quotes and trade data for market participants looking for real-time data. With one product and one license, the offering provides a unified view of the market from all four Cboe venues: BZX Exchange, BYX Exchange, EDGX Exchange and EDGA Exchange.
These four exchanges combine to make one of the largest stock exchange operators in the U.S. and a leading market globally for ETP trading.
Cboe offers two versions of its One Feed – the Cboe One Summary Feed and Cboe One Premium Feed. Each of these feeds offers a different selection of utilities, including aggregated quotes (Best Bid and Offer) and trades (Last Sale). However, the Cboe One Premium feed also provides depth information (5 levels), including size, across its four exchanges.
Commenting on the news, Kevin Carrai, VP and global head of Market Data at Cboe Global Markets said: “Our new Small Retail Broker Distribution Program is designed with this mission in mind. Catering to small, retail brokers and the individual investors they serve, we believe this program will further democratize access to real-time U.S. equities quote and trade information through lower costs and broader distribution to individual investors.”