Activ Launches Interlisted Stock Data Feed
Traders Magazine Online News, February 19, 2013
Activ Financial has launched a market data feed that provides Canadian traders with information on their native stocks that trade in the U.S.
The "ActivFeed," provides both the sell- and buyside with real-time Level One trade data, such as current bid/ask and last trade information for Canadian stocks that trade both on the Canadian and U.S stock exchanges.The feed of data on interlisted stocks is targeted primarily at Canadian users who need top-of-book National Best Bid and Offer information for equities, according to Will Kennedy, head of sales for Activ.
"We've seen the primarily interest for this come from cross-border arbitrage strategies traders," Kennedy said. "This offering is like a consolidated tape for interlisted stocks. As a significant amount of volume for Canadian listings trades on U.S. exchanges, our clients need to see liquidity from both Canadian and U.S. markets to get a full trading picture."
Currently there are approximately 140 stocks that trade on both the Canadian and U.S exchanges, including Blackberry, Advantage Oil & Gas Ltd, Bank of Montreal, Canadian National Railway Co. and Toronto-Dominion Bank. Roughly 40 percent of Canadian company trading volume occurs on U.S. exchanges, Kennedy said. Sellside brokers first requested the data.
Depending on how a user tailors his data feed, trade data can be transmitted at speeds in the single-digit microsecond to one millisecond range.
ActivFeed is a highly-compressed data stream that delivers tick data on transactions involving every interlisted stock. The feed plugs directly into a wide variety of third-party order and execution management systems, databases and messaging middleware through Activ's application programming interface and can be used for trading applications, tick-capture engines, market screening, portfolio valuations and more.
Founded in 2002, Activ is privately owned and has offices in Chicago, New York, Tokyo, Singapore and London.
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