TheInternational
Securities Exchangehas launched theISE Depth of Market
Feedto improve trading
efficiency.
The ISE Depth of Market Feed is a real-time data feed that
provides the aggregated volume of all quotes and orders available
at each of the top five price levels for options that trade on
ISE.
The ISE Depth of Market Feed is designed to improve trading
efficiency by providing transparency beyond the Best Bid and Offer
(BBO) on the equity options exchange.
The ISE Depth of Market Feed is delivered using the
Fix Fast
protocol. This product is one of the first market data
offerings to use this new standard, which reduces the bandwidth
required to receive data and decreases the latency of
transmission.
The Fix Fast format makes it easy to integrate the feed with
other applications and does not require use of a proprietary
application programming interface (API).
ISE was an active member in the
Fix Protocol
Organisation, which developed the Fast protocol to encourage
use of a common, efficient industry standard for market data.
Gary Katz, chief operating officer at the International
Securities Exchange, said, "This product establishes a new standard
in market data dissemination to make data easier to access and more
efficient to use for traders and investors."
The ISE Depth of Market Feed will be a subscription offering but
is currently available for evaluation during an introductory
period.