Date/Time: Mon, 15 Oct 2018 11:55:52 +0000
Post From: About Real-time Futures Data
Sierra Chart Engineering - Posts: 64791
And if anyone thinks our complaint here is not valid, we remember during a call about 10 years ago with a salesperson with DTN IQ Feed, and without us even raising this issue they went on at length with us complaining how the exchange fee policies of the exchanges make their business so difficult.
They were complaining at length about how depressing and difficult their business is because of the policies of the exchanges, specifically related to the unfair practices involving the policy of preferential treatment to a broker as compared to a data provider that the exchanges would give the brokers. The tone of the call was like they were looking for sympathy and expressing their frustration and unhappiness over the whole situation.
And they were also talking about a lot of the data redistribution from exchanges that goes on over the Internet is not even legal but yet they (IQ feed) have to comply with the exchange policies regarding exchange fees which puts them at a disadvantage.
We also heard from Tele-trader that they were intensely audited by the NASDAQ related to market data. This puts the fear of God into these guys. As if somehow the NASDAQ price feed is proprietary information. It is nothing of the sort. This concept of professional and nonprofessional is also total garbage especially with the way that they analyze this.
We also heard more than 15 years ago from Track Data/My track, that when the NYMEX audited them, that they noticed their delayed data was off by about few seconds and they were hit with a USD20,000+ fine (later reversed). Once again putting the fear of God into these guys.
Now recently the exchanges have changed their policies because clearly they were not legally fair but unfortunately they have changed them in such a way that makes it more difficult for all of us. For example, the ICE now charges 110 USD per month exchange fee for every computer terminal receiving the data.
Here is another such case. We had someone from Europe asking us for a free trial of real-time US equities data. We told the cost is going to be 15 USD. Most of that is simply from the NYSE and NASDAQ exchange fees. They then came back to us and said they want to cancel their trial. This meant to us, well if you are going to charge for free trial, then we do not want to do business with you. Not realizing, it is the exchange charging a fee for the price data being set by the public.
Sierra Chart Support - Engineering Level
Your definitive source for support. Other responses are from users. If possible please keep your questions brief and to the point. Please be aware of support policy:
If your question/request has been answered and you do not have anything further, then it is easiest for us if you do not reply again to say thank you.
Date Time Of Last Edit: 2017-01-23 01:44:27