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International Securities Exchange to deliver options market depth data

02 November 2005  |  1244 views  |  0 Source: International Securities Exchange

The International Securities Exchange (NYSE: ISE) announced today its intention to provide access to depth of market data to provide transparency for investors beyond the Best Bid Offer (BBO).

This will be available in the second quarter of 2006.

ISE plans a flexible data platform configured with three price levels of depth to provide investors with a consolidated view of tradable prices and liquidity beyond the top of the book. The depth data will be aggregated prior to distribution which will reduce the bandwidth requirements. The ISE will use the new optimized FIX FAST (Financial Information eXchange Adapted for Streaming) market data protocol, rather than introduce a proprietary API which will minimize developers' learning curve and reduce integration time. Pricing for this offering is subject to SEC approval.

ISE's new depth of market data will be distributed over the Secure Financial Transaction Infrastructure network (SFTI) as a separate offering from the existing Options Pricing Reporting Authority (OPRA) feed. Clients can reduce costs and implementation efforts by leveraging their existing SFTI connectivity. This direct connection will also minimize the latency associated with traditional distribution alternatives.

This data offering reinforces ISE's leadership position in introducing new innovations to help improve trading efficiency. ISE is the world's largest equity options exchange, with the deepest and most liquid quoted markets for the options it trades.

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