Date/Time: Tue, 23 Oct 2018 13:05:59 +0000
Post From: About Real-time Futures Data
Sierra Chart Engineering - Posts: 65120
One thing that we have previously said is that the policies of exchanges are detrimental to everyone perhaps except to their profits. But we contend that it actually may be detrimental to their profits.
Ridiculous exchange fee policies which currently exist definitely do have the effect of reducing trading activity and more importantly they do have the effect of reducing the accessibility and reliability of exchange market data for those who require it. This is why there are so many market data problems which actually exist.
Market data from exchanges is not proprietary information. It is not their intellectual property. It is the participants(traders), which set the prices. And the underlying prices are completely set outside of the exchange. So for them to actually be charging for the market data to begin with makes no sense. Keep in mind we are not talking about the cost of data delivery but simply merely a charge on what they claim is their intellectual property.
There is not a problem if they were to have a very small fee ranging anywhere from 1 USD to 10 USD. But it is a problem when it exceeds this. And it is not a problem, for them to charge connectivity fees for those market data services who maintain physical connectivity to the exchange.
The whole concept that they have proprietary information and it needs to be protected is complete nonsense.
They have a business to run and that is not a problem, but they need to do it in a way which does not create so many problems for the users of the data and for those who are providing the data. This is what is wrong with what they are doing.
There are so many things we can do if all of these ridiculous policies and fees are done away with. For example, we can calculate market statistics for the EUREX. We cannot do that because of the very high fees for the exchange data.
It has even been contemplated, of creating a competitive exchange which trades stock index futures and gold and silver. Although the basic fundamental problem with this, is building up the liquidity and therefore attracting traders. Although it is a longer-term concept that is being kept in mind and perhaps if there is enough support among the clearing firms we work with we could make it a reality. It would not be an effort of any one entity, but many entities coming together to make it a reality.
Sierra Chart Support - Engineering Level
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Date Time Of Last Edit: 2016-10-16 02:40:26