Cboe Global Markets, Inc. (Cboe: CBOE), one of the worlds largest exchange holding companies, announced it has launched a new Small Retail Broker Distribution Program which aims to broaden access to U.S. equities market data for individual investors.
The new program, effective August 1, 2019, subject to regulatory review, would allow small retail broker-dealers that support up to 5,000 individual investors to distribute Cboes real-time top of book data feeds – including the Cboe One Summary Feed – for use throughout their websites and platforms at reduced fees (1).
The new program endeavors that individual investors continue to have fair and efficient access to high-quality, real-time U.S. equities market data, and reflects Cboes ongoing commitment to serving the interests of all investors through a variety of offerings. As the companys most popular market data product, the Cboe One Summary Feed provides cost-effective, highquality quote and trade information for market participants looking for comprehensive, real-time U.S. equities market data.
With one product and a single license, the Cboe One Summary Feed provides market participants a unified view of the market across all four Cboe U.S. equities exchanges – BZX Exchange, BYX Exchange, EDGX Exchange and EDGA Exchange – and a valuable window into the securities that are trading on Cboes liquid markets. UTP and CTA SIP Consolidated Volume is also included in the Cboe One Summary Feed, reflecting the total trading volume occurring on all market centers for Tape A, B or C-listed securities.
Cboe is committed to serving the investing public and providing a variety of market data service offerings to meet the diverse needs of investors of all sizes, said Kevin Carrai, Vice President and Global Head of Market Data and Access Services at Cboe Global Markets. Our new Small Retail Broker Distribution Program is designed with this mission in mind. Catering to small, retail brokers and the individual investors they serve, we believe this program will further democratize access to real-time U.S. equities quote and trade information through lower costs and broader distribution to individual investors.
Cboe offers a variety of competitively-priced data solutions for a diverse set of market participants and vendors – including data platforms, financial information websites, fintech firms, buy-side investors, retail brokers, regional banks, and securities firms globally – that are increasingly seeking Cboes lower cost, high quality real-time U.S. equities market data to power their systems and applications.
1- Distributors that participate in the Program would be liable for lower distribution and consolidation fees for access to Cboe One Summary Feed. Distribution fee for Cboe One Summary Feed would be lowered by 30% from the current $5,000 per month to $3,500 per month, while consolidation fee charged for Cboe One Summary Feed would be lowered by 65% from the current $1,000 per month to $350 per month.