DN2023-3 – Nasdaq Introduces New Hardware-Based Option for BX TotalView-ITCH
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What you need to know:Pending SEC approval, Nasdaq will introduce a new TotalView-ITCH FPGA service on BX for Nasdaq equity depth data subscribers. |
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What is BX Totalview-ITCH?
BX TotalView-ITCH is a real-time market data product that provides full order depth using a series of order messages to track the life of customer orders in the BX market, offers trade data for BX executions, and carries administrative messages such as Trading Action messages, Symbol Directory, and Event Control messages.
What are the benefits of BX Totalview-ITCH
The data available via BX Totalview-ITCH allows subscribers to:
- View all displayed quotes and orders
- Access total displayed anonymous interest
- See total size of all displayed quotes and orders
What is the new offering for BX Totalview-ITCH
Effective June 1, 2023, pending SEC approval, Nasdaq will introduce a new BX TotalView-ITCH equities depth feed product using field-programmable gate array (FPGA) technology. FPGA is an integrated circuit designed to run user specified, high performance business applications and to provide a high degree of parallelism allowing for consistent, deterministic behavior.
What is the fee for the new BX Totalview-ITCH FPGA Product?
Nasdaq will establish fees via a subsequent SEC filing and will announce via this data news item once filed.
If I am a current BX TotalView-ITCH subscriber, do I need to migrate to the FPGA offering?
No. The BX TotalView-ITCH FPGA product is an optional service for BX depth data feed subscribers. Nasdaq plans to support the software-based version of the BX TotalView-ITCH data feed indefinitely.
How do I order BX TotalView-ITCH FPGA?
If you are interested in the new BX TotalView-ITCH FPGA offering, please contact Investment Intelligence.
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