Market Data
Market Data Included With Your Account
- Free Streaming Data on US-listed Stocks and ETFs – ProTradeLTD clients receive free real-time streaming market data on all US-listed stocks and ETFs from Cboe One and IEX. (Non-consolidated)
- Free Delayed Market Data – ProTradeLTD clients receive free delayed market data on other products where available.
- Free Snapshot quotes – ProTradeLTD clients receive up to 100 free snapshot quotes per month. A snapshot quote is a static, non-streaming, real-time quote that is displayed at each point of order entry.
Market Data Pricing and Subscription Details
Consolidated vs Non-consolidated
Consolidated data shows the NBBO (National Best Bid and Offer) and combines information from all exchanges to show the highest bid and lowest ask prices across the market, providing a comprehensive view of the best available prices. For US-listed equities and ETFs, the Consolidated Tapes A, B, and C provide the NBBO.
Non-consolidated real-time data only provides data from some exchanges and does not show the NBBO. The free real-time streaming market data on all US-listed stocks and ETFs from Cboe One and IEX is non-consolidated.
Subscriptions and Billing
Market data subscription fees start from the day of subscription and are billed within the first three business days of each subsequent month as long as the service remains active. Fees are based on the number of users per account, with multiple charges for multiple users. ProTradeLTD retains 5% - 10% of market data fees to cover administrative costs, with the remaining amount paid to the data vendor. Additional fees apply for Snapshot quotes.
How Market Data is Allocated
In order to receive real-time market data, customers must be a subscriber to market data. All clients initially receive 100 concurrent lines of real-time market data (which can be displayed in TWS or via the API) and always have a minimum of 100 lines of data. After the first month of trading, the quantity of market data is allocated using the greater value of:
- USD monthly commissions divided by 8
- USD equity multiplied by 100 divided by $1,000,000
(rounded down to the nearest integer) - 100
- Example 1:
In month two, your account shows the following values: USD Monthly Commissions: $16, USD Equity: $950,000
Using the calculations above, you would still receive the minimum 100 lines of data, since: $16/8 = 2
$950,000 x 100 / $1,000,000 = 95 - Example 2:
In month three, your account shows the following values: USD Monthly Commissions: $500, USD Equity: $1,245,000
Using the calculations above, you would receive 124 lines of data, since: $500/8 = 62.5
$1,245,000 x 100 / $1,000,000 = 124.5, rounded down to 124.
Deep Data Allotment
The number of symbols that can be viewed simultaneously via the TWS deep book windows (including BookTrader, Market Depth and ISW) is determined as follows: one unique symbol for every 100 allowed lines of market data, with a minimum of three and a maximum of 60. For example, a client with the default allowance of 100 lines of data will be able to simultaneously view deep data for three different symbols. Note that multiple deep book windows for the same symbol can be opened without impacting market data limits. Continuing this example, this client could open the symbol ProTradeLTD in BookTrader, Market Depth and ISW and still be able to view deep data for two more symbols. A client who, based on commissions, equity or other criteria, is allowed 500 tickers will be able to simultaneously view deep data for five unique symbols. Note that this number may change month to month if the number of allowed tickers for your account changes.
Minimum Equity Balance Requirements
The following minimums are required to subscribe and maintain market data and research subscriptions. This does not include the cost of the service.
| Account Type | Minimum Equity Balance USD or Non-USD Equivalent |
|---|---|
| Individual (unless listed below) | USD 500.00 |
| Financial Advisor Clients | USD 500.00 |
| Institutional and/or Organizational | USD 500.00 |
| Financial Advisor | USD 500.00 |
| Family Advisor | USD 200.00 |
| Introducing Broker Clients | USD 200.00 |
The minimum requirements plus the cost of the subscription are required to have the data activated.
Commission Waivers
Market data services that are eligible for commission waivers are listed below. When the commission threshold is met for each service, the market data subscription fees are waived. Calculations for waivers are not cumulative and are applied first to the highest priced service.
For example, if you subscribe to waiver-enabled services with the following thresholds,
| Subscription | Fee | Commissions Waiver |
|---|---|---|
| US Securities Snapshot and Futures Value Bundle | USD 10.00 | USD 30.00 |
| OPRA Top of Book (L1)(US Option Exchanges) | USD 1.50 | USD 20.00 |
| Shanghai Stock Exchange 5 Second Snapshot (via HKEx) | USD 1.00 | USD 5.00 |
| Shenzhen Stock Exchange 3 Second Snapshot (via HKEx) | USD 1.00 | USD 5.00 |
then waivers would be applied in descending order based on the commissions waiver.
| Subscription Waived | ||||
|---|---|---|---|---|
| Commissions Generated | US Securities Snapshot and Futures Value Bundle | OPRA Top of Book (L1) (US Option Exchanges) | Shanghai Stock Exchange 5 Second Snapshot (via HKEx) | Shenzhen Stock Exchange 3 Second Snapshot (via HKEx) |
| USD 60.00 | Yes | Yes | Yes | Yes |
| USD 30.00 | Yes | No | No | No |
| USD 25.00 | No | Yes | Either | |
| USD 10.00 - 20.00 | No | No | Yes | Yes |
| USD 5.00 - 10.00 | No | No | Either | |
Professional vs. Non-Professional Subscribers
Most exchanges and data vendors classify market data subscribers as either non-professional or professional based on usage and registration status:
- Professional Subscriber: Includes organizations (corporations, LLCs, partnerships) and individuals using data for business purposes. Also includes registered securities or investment advisors, financial services employees, and similar roles.
- Non-Professional Subscriber: Any individual not registered with financial regulatory bodies, not acting as an investment advisor, and not employed by financial institutions performing registration-exempt functions.
Market Data Type — Snapshot Quotes, Level 1 and Level 2 Data
Snapshot Quotes: A Snapshot quote is a static, non-streaming market data quote that is available at each point of order entry. The snapshot quote can be updated or refreshed by requesting an updated quote. The quote is not refreshed automatically. Snapshot quotes are an alternative to streaming quotes and are charged per quote requested instead of a monthly subscription.
US-listed equities and ETFs are USD 0.01 per request, and all other instruments are USD 0.03. All ProTradeLTD accounts receive a USD 1.00 monthly waiver for snapshot quotes. If a client's snapshot quote fees within a month equal the cost of the real-time streaming service, they will automatically be upgraded to the real-time streaming service for that month.
Snapshot data for US-listed equities and ETFs provides the size, quantity, and market identifications for the National Best Bid and Offer (NBBO) and Last Sale from the Consolidated Tapes A, B, and C.
- Level 1 Market Data: Provides market information on the top of the order book, showing only the best available prices for buyers and sellers, including the best bid (highest price a buyer is willing to pay), ask (lowest price a seller is willing to accept), last traded price, and trading volume.
- Level 2 Market Data: Provides more comprehensive by displaying the full depth of the order book. This includes multiple bid and ask prices at different levels, not just the best available prices. It provides a clearer view of market liquidity and the supply-demand dynamics at various price points.
Simultaneous Level 2/Depth of Book Quotes: The number of symbols you can view simultaneously in TWS Level 2/Depth of Book windows (such as BookTrader, Market Depth, and the Integrated Stock Window (ISW)) depends on your market data allowance. For every 100 lines of market data you are allowed, you can view Level 2/Depth of Book data for one unique symbol, with a minimum of 3 and a maximum of 60 symbols at a time.
For example, if you have the default allowance of 100 lines of market data, you can view Level 2/Depth of Book data for 3 symbols. You can open multiple Level 2/Depth of Book windows for the same symbol without affecting your limit. For instance, you could view NVDA in several windows and still have space for two more symbols.
If your account allows 500 lines of data, you can view Level 2/Depth of Book data for five unique symbols. This number may change monthly based on the number of allowed tickers for your account.
Quote Booster: You can increase your allowance of simultaneous quotes windows by purchasing monthly Quote Booster packs at USD 30.00 per pack.
- Each booster pack provides 100 simultaneous Level I quotes and 1 additional simultaneous Level 2/Depth of Book quote. Booster Pack quotes are additional to your monthly quote allotment from all sources, including commissions.
- Booster pack quotes are available for use in the desktop systems and in the API.
- Once subscribed, quotes are available immediately and will display the next time you log into the system.
- Data from a cancelled booster pack subscription remains available through the end of the current billing cycle.
- Limit of 10 Quote Booster packs per account.
Delayed Market Data
Exchanges and market data vendors usually offer both real-time and delayed data. Real-time market data is disseminated as soon as the information is publicly available. Delayed market data is on a time lag that is usually 10-20 minutes behind real-time quotes. The tables below list the delay period for the exchanges that provide delayed market data.
Please Note:
- Delayed quotes should be used for indicative purposes and not necessarily for trading. The times mentioned may be subject to further delays without notice.
- In accordance with regulatory requirements, ProTradeLTD no longer offers delayed quotation information on U.S. equities to Interactive Brokers LLC clients.
Americas
| External Exchange Name | IB Exchange Name | Delay Period | Real Time Subscription |
|---|---|---|---|
| CBOT | CBOT | 10 minutes | CBOT Real-Time |
| CBOE Futures Exchange | CFE | 10 minutes | CFE Enhanced |
| Market Data Express (MDX) | CBOE | 10 minutes | CBOE Market Data Express Indices |
| CME | CME | 10 minutes | CME Real-Time |
| COMEX | COMEX | 10 minutes | COMEX Real-Time |
| ICE US | NYBOT | 10 minutes | ICE Futures U.S. (NYBOT) |
| Mexican Derivatives Exchange | MEXDER | 15 minutes | Mexican Derivatives Exchange |
| Mexican Stock Exchange | MEXI | 20 minutes | Mexican Stock Exchange |
| Montreal Exchange | CDE | 15 minutes | Montreal Exchange |
| NYMEX | NYMEX | 10 minutes | NYMEX Real-Time |
| NYSE GIF | NYSE | 15 minutes | NYSE Global Index Feed |
| One Chicago | ONE | 10 minutes | OneChicago |
| OPRA | OPRA | 15 minutes | OPRA Top of Book (L1)(US Option Exchanges) |
| OTC Markets | PINK | 15 minutes | OTC Markets |
| Toronto Stock Exchange | TSE | 15 minutes | Toronto Stock Exchange |
| Venture Exchange | VENTURE | 15 minutes | TSX Venture Exchange |
Europe/Middle East
| External Exchange Name | IB Exchange Name | Delay Period | Real Time Subscription |
|---|---|---|---|
| BATS Europe | BATE/CHIX | 15 minutes | European (BATS/Chi-X) Equities |
| Boerse Stuttgart | SWB | 15 minutes | Stuttgart Boerse incl. Euwax (SWB) |
| Bolsa de Madrid | BM | 15 minutes | Bolsa de Madrid |
| Borsa Italiana | BVME/IDEM | 15 minutes | Borsa Italiana (BVME stock / SEDEX / IDEM deriv) |
| Budapest Stock Exchange | BUX | 15 minutes | Budapest Stock Exchange |
| Eurex | EUREX | 15 minutes | Eurex Real-Time Information |
| Euronext | AEB/SBF/MATIF/BELFOX | 15 minutes | Euronext Cash |
| Euronext | AEB/SBF/MATIF/BELFOX | 15 minutes | Euronext Data Bundle |
| Frankfurt Stock Exchange and XETRA | FWB/IBIS/XETRA | 15 minutes | Spot Market Germany (Frankfurt/Xetra) |
| ICE Futures Europe (Commodities) | IPE | 10 minutes | ICE Futures E.U. - Commodities (IPE) |
| ICE Futures Europe (Financials) | ICEEU | 10 minutes | ICE Futures E.U. – Financials (LIFFE) |
| Ljubljana Stock Exchange | LJSE | 15 minutes | Ljubljana Stock Exchange |
| LSE | LSE | 15 minutes | LSE UK |
| LSEIOB | LSEIOB | 15 minutes | LSE International |
| MEFF | MEFF | 15 minutes | BME (MEFF) |
| NASDAQ OMX Nordic Derivatives | OMS | 15 minutes | Nordic Derivatives |
| Prague Stock Exchange | PRA | 15 minutes | Prague Stock Exchange Cash Market |
| SWISS Exchange | EBS/VIRTX | 15 minutes | SIX Swiss Exchange |
| Tel Aviv Stock Exchange | TASE | 15 minutes | Tel Aviv Stock Exchange |
| Turquoise ECN | TRQXCH/TRQXDE/TRQXEN | 15 minutes | Turquoise ECNs |
| Warsaw Stock Exchange | WSE | 15 minutes | Warsaw Stock Exchange |
Asia-Pacific
| External Exchange Name | IB Exchange Name | Delay Period | Real Time Subscription |
|---|---|---|---|
| Australian Stock Exchange | ASX | 20 minutes | ASX Total |
| Hang Seng Indices | HKFE-IND | 15 minutes | Hang Seng Indexes |
| Hong Kong Futures Exchange | HKFE | 15 minutes | Hong Kong Derivatives (Fut & Opt) |
| Hong Kong Stock Exchange | SEHK | 15 minutes | Hong Kong Securities Exchange (Stocks, Warrants & Bonds) |
| Korea Stock Exchange | KSE | 20 minutes | Korea Stock Exchange |
| National Stock Exchange of India | NSE | 15 minutes | National Stock Exchange of India, Capital Market Segment |
| Osaka Securities Exchange | OSE.JPN | 20 minutes | Osaka Exchange |
| SGX Derivatives | SGX | 10 minutes | Singapore Exchange (SGX) - Derivatives |
| Shanghai Stock Exchange | SEHKNTL | 15 minutes | Shanghai Stock Exchange |
| Shanghai Stock Exchange STAR Market | SEHKSTAR | 15 minutes | Shanghai Stock Exchange |
| Shenzhen Stock Exchange | SEHKSZSE | 15 minutes | Shenzhen Stock Exchange |
| Singapore Stock Exchange | SGX | 10 minutes | Singapore Exchange (SGX) - Stocks |
| Sydney Futures Exchange | SNFE | 10 minutes | ASX24 Commodities and Futures |
| Tokyo Stock Exchange | TSEJ | 20 minutes | Tokyo Stock Exchange |
Sample Market Data Subscriptions
The sample market data subscriptions in the following table below can help you choose the right subscriptions for your trading needs.
| Market Data Desired | Non-Professional subscription(s) needed | Professional subscription(s) needed |
|---|---|---|
| AMEX-, ARCA-, BATS-listed top-of-order book (NBBO) streaming quotes | NYSE American, BATS, ARCA, IEX and Regional Exchanges (Network B) OR US Securities Snapshot and Futures Value Bundle AND US Equity and Options Add-On Streaming Bundle | NYSE American, BATS, ARCA, IEX and Regional Exchanges (Network B) OR Professional US Securities Snapshot Bundle AND US Equity and Options Add-On Streaming Bundle |
| NASDAQ-listed (ex: MSFT) top-of-order book (NBBO) streaming quotes | NASDAQ (Network C/UTP) OR US Securities Snapshot and Futures Value Bundle AND US Equity and Options Add-On Streaming Bundle | NASDAQ (Network C/UTP) OR Professional US Securities Snapshot Bundle AND US Equity and Options Add-On Streaming Bundle |
| NYSE-listed (ex: IBM) top-of-order book (NBBO) streaming quotes | NYSE (Network A/CTA) OR US Securities Snapshot and Futures Value Bundle AND US Equity and Options Add-On Streaming Bundle | NYSE (Network A/CTA) OR Professional US Securities Snapshot Bundle AND US Equity and Options Add-On Streaming Bundle |
Notes:
- Market data subscription costs will not be pro-rated. Users who subscribe to or unsubscribe from data mid-month will be charged at the full month rate.
- Due to regulatory restrictions, your account may be ineligible to trade certain products. Such a restriction does not prohibit you from subscribing to and receiving market data. Should you wish to obtain market data, even for those products you may be ineligible to trade, your account will be subject to the applicable subscription fees.