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Nasdaq Matchview

We offer independent versions of MatchView for The Nasdaq Stock Market (Nasdaq), Nasdaq BX and Nasdaq PSX markets.

Learn about Nasdaq Matchview

The Nasdaq MatchView suite consists of real-time direct data feeds that provide insight into what the Nasdaq execution systems see as the prevailing Best Bid and Offer (BBO) of the other exchanges.

Features

  • Allows firms to more accurately price their orders on the exchange, thereby avoiding price adjustments
  • Helps firms to price their orders more aggressively to narrow spreads
  • Provides a more accurate determination of a firm's display price
  • Offers more efficient access to non-Nasdaq exchange quotes by consuming the feeds and doing the calculation for firms, allowing firms to save on bandwidth and resource costs
  • Increases the quality and integrity of the data we deliver by dually sourcing data from the exchanges and the consolidators
  • Helps improve fill rates

Product List

 

Nasdaq MatchView

Provides a view into what the Nasdaq execution system sees as the prevailing Best Bid and Offer (BBO) of the other exchanges.

BX MatchView

BX MatchView feed utilizes various direct proprietary exchange data feeds in addition to the consolidated UTP and CTA data feeds to provide the prevailing BBO of the other exchanges, as seen by the BX execution system.

PSX MatchView

Provides a view into what the Nasdaq PSX execution system sees as the prevailing Best Bid and Offer (BBO) of the other exchanges.

Data Description

The Nasdaq MatchView feeds utilize various direct proprietary exchange data feeds in addition to the consolidated UTP and CTA data feeds to provide the prevailing BBO of the other exchanges, as seen by the Nasdaq execution systems.
U.S. Market Primary Data Source* Nasdaq MatchView BX MatchView PSX MatchView
The New York Stock Exchange NYSE OpenBook Ultra X X X
NYSE Arca NYSE ArcaBook X X X
BATS-Y Exchange and BATS-Z Exchange BATS PITCH X X X
Direct Edge 2013 EDGA and EDGX Exchanges DirectEdge Depth of Book X X X
The Nasdaq Stock Market TotalView-ITCH 5.0 X X X
Nasdaq BX BX TotalView-ITCH 5.0 X X X
Nasdaq PSX PSX TotalView-ITCH 5.0 X X X
NYSE MKT UQDF/CQS X X X
CBOE Stock Exchange (CBSX) UQDF/CQS X X X
Chicago Stock Exchange (CHX) UQDF/CQS X X X
FINRA Alternative Display Facility (FINRA ADF) UQDF/CQS X X X
Nasdaq ISE UQDF/CQS X X X
National Stock Exchange (NSX) UQDF/CQS X X X
*Backup data source for all feeds will be consolidated Securities Information Processor (SIP) data. In addition, orders entered by Nasdaq market participants with the three designations of Non-Immediate or Cancel (IOC), Day, and Intermarket Sweep Orders (ISO) will continue to be included in the calculation logic of the MatchView product.

Agreements & Forms

Because the feeds utilize various direct proprietary exchange data feeds, MatchView data feed subscribers will be required to comply with the data policies and fees of NYSE, CBOE, Direct Edge and the CTA and UTP plans under the data policies put forth by those exchanges. Nasdaq will be unable to provide customer access to the MatchView data product unless prior written approval is received from each exchange.
U.S. Market Primary Data Source* Datafeed Request Process/Approval Process Exchange Agreement*
The New York Stock Exchange NYSE OpenBook Ultra Nasdaq submits a data feed request on behalf of a customer AFTER the customer provides written notification that they are ordering a MatchView feed via email toDataOps@nasdaq.com or Online or Hard Copy Form NYSE Vendor Agreement- Proprietary Data Products
NYSE Arca NYSE ArcaBook
BATS-Y Exchange and BATS-Z Exchange BATS PITCH Not Applicable Not Applicable
Direct Edge 2013 EDGA and EDGX Exchanges DirectEdge Depth of Book Nasdaq submits a data feed request on behalf of a customer AFTER the customer provides written notification that they are ordering a MatchView feed via email toDataOps@nasdaq.com or Online or Hard Copy Form Direct Edge Market Data Agreement
The Nasdaq Stock Market TotalView-ITCH 5.0 Customer is to submit a Nasdaq DataFeed Request Form to Nasdaq, using either the Online or Hard Copy Form. Nasdaq Global Data Agreement
Nasdaq BX** BX TotalView-ITCH 5.0
Nasdaq PSX PSX TotalView-ITCH 5.0
UTP Level 1 Tape C UQDF/UTDF Customer is to submit a Nasdaq DataFeed Request Form to Nasdaq, using either the Online or Hard Copy Form. Nasdaq Vendor Agreement
CTA Data Tapes A & B Nasdaq submits a datafeed request on behalf of a customer AFTER the customer provides written notification that they are ordering a MatchView feed via email toDataOps@nasdaq.com or Online or Hard Copy Form NYSE Vendor Agreement - CTCQ

*Exchange agreements are only required to be executed if your firm does not already have an agreement on file with that exchange. Each customer is responsible for contacting each exchange independently to determine if an agreement is necessary.

**BX MatchView customers are not liable for the BX TotalView-ITCH fees.

Pricing

Because the feeds utilize various direct proprietary exchange data feeds, MatchView data feed subscribers will be required to comply with the data policies and fees of NYSE Euronext, BATS, Direct Edge and the CTA and UTP plans under the data policies put forth by those exchanges. Nasdaq will be unable to provide customer access to the MatchView data product unless prior written approval is received from each exchange.

Currently there is no charge for BX MatchView or PSX MatchView data.

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