The PHLX Orders data product offers full PHLX order depth information for both simple and complex orders.
PHLX Orders is designed to provide the real-time status of simple and complex orders on the Nasdaq PHLX (PHLX) order book directly to subscribers. This includes new orders and changes to orders resting on the PHLX book for all PHLX listed options. PHLX Orders also includes opening imbalance information, Price Improvement XL (PIXL) information and Complex Order Live Auction (COLA) data.
PHLX Orders is available as a standalone data feed or through the TOPO Plus PHLX Orders data product, which includes access to both the Top of PHLX Options (TOPO) data feed and the PHLX Orders data feed.
Additionally, PHLX offers a historical record of all simple and complex order message data from the PHLX Orders data feed. Historical PHLX Orders subscribers may download the daily message logs on a T+1 basis from a secure FTP server.
Benefits & Features
- Allows firms to gain additional market perspective by providing proprietary simple and complex order book data.
- Access invaluable imbalance information about opening orders.
- Provides the opportunity for price improvement in the Complex Order Live Auction (COLA).
- Via Nasdaq Direct Data Feed Products: Trading firms and market data vendors may create a real-time display by processing direct Nasdaq data feed products. For detailed technical documentation for Nasdaq direct products, please refer to the Market Data technical specifications page.
- Via Market Data Vendors: Individual investors and traders may access real-time data through a number of authorized Nasdaq market data distributors. Market data distributors provide both display devices and data feed products containing Nasdaq real-time data. Refer to the Market Data Vendors page for a complete list of companies.
Please refer to the U.S Derivatives Price List for pricing information.
Agreements & Forms
To initiate this data on a data feed, firms must submit the appropriate documentation and receive prior approval from Nasdaq:
- Data Feed Request Form - Required for all firms
- Nasdaq Global Data Agreement - Required for all firms prior to initiation of the first Nasdaq data service only
- System Application - Required for firms only if the data will be displayed or used in a system that is not yet approved by Nasdaq
For the complete list of Nasdaq and UTP market data agreements and forms, please refer to the Nasdaq Global Data Products Agreements and Forms page.
To order this data on a stand-alone terminal/controlled display product, end users or end-user firms should contact their market data vendor for the appropriate agreements and forms.