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Nasdaq MatchView

Overview

The Nasdaq MatchView feed is a real-time direct data feed that provides a view into what the Nasdaq execution system sees as the prevailing Best Bid and Offer (BBO) of the other exchanges.

Key Benefits

Benefits of the product include:

  • Allowing firms to more accurately price their orders on the exchange, thereby avoiding price adjustments
  • Helping firms to price their orders more aggressively to narrow spreads
  • Providing a more accurate determination of a firm's display price
  • Offering 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
  • Increasing the quality and integrity of the data we deliver by dually sourcing data from the exchanges and the consolidators
  • Improving fill rates

 

Data Description

The Nasdaq 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 Nasdaq execution system.

Nasdaq MatchView utilizes the following data sources:

U.S. Market
The New York Stock Exchange
NYSE Arca
BATS-Y Exchange and BATS-Z Exchange
EDGA and EDGX Exchanges
Nasdaq BX
Nasdaq PSX
NYSE American
Investors Exchange (IEX)
NYSE-Chicago
NYSE-National
The Members Exchange
MIAX Pearl Equities Exchange

*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.

Access Options

At this time, Nasdaq recommends that firms interested in MatchView process the direct data feed. For detailed technical information, please refer to the Market Data technical specifications page.

Agreements and Forms

The MatchView the feed utilizes various direct proprietary exchange data feeds, and as such MatchView data feed subscribers will be required to comply with the data policies and fees of other exchanges. Please contact each exchange for more information. Nasdaq will be unable to provide customer access to the MatchView data product unless prior written approval is received from each exchange.

*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.

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

Pricing

Please refer to the U.S. Equities Price List for pricing information.