The Nasdaq OMX Group, (Nasdaq:NDAQ) today introduced Top of PHLX Options (TOPO), a low latency options data feed that provides direct access to data from Nasdaq OMX PHLX (PHLX).
TOPO offers recipients the same information PHLX provides to the Options Price Reporting Authority (OPRA) for inclusion in the consolidated market feed, without extra transmission and processing latencies.
As the third-largest U.S. options exchange, PHLX trades more than 2,600 equity options, sector index options and U.S. dollar-settled options on major currencies. PHLX offers a combination of cutting-edge electronic and floor-based options trading on NASDAQ's high-speed, highly-reliable INET technology.
TOPO was created in conjunction with the launch of PHLX's enhanced trading platform, which is based on the INET architecture.
"Top of PHLX Options enables subscribers to have the most immediate access to information from PHLX," said Randall Hopkins, Senior Vice President, NASDAQ OMX Global Data Products. "In addition to removing extra hops and latency in receiving this data, TOPO users also benefit from the increased capacity and performance within the new trading system itself."
TOPO is available to trading firms, market data vendors and individual investors and can be accessed directly from NASDAQ OMX or through authorized NASDAQ OMX extranets and market data distributors.