OpenView displays NASDAQ market participant depth in securities listed on the New York Stock Exchange (NYSE) and American Stock Exchange (Amex).
Benefits and Features
Allows investors and traders to take full advantage of trading in NYSE- and Amex-listed issues
Shows attributed market depth for NASDAQ participants for NYSE- and Amex-listed issues
Allows greater price discovery for NYSE- and Amex-listed securities than the CQS data feed
Provides Trading Action data for NYSE- and Amex-listed issues during pre- and post-market sessions as well as during regular market hours
Product Updates
On February 12, 2007, NASDAQ completed systems integration for NYSE-, Amex- and regional-listed securities. As outlined in NASDAQ Vendor Alert #2007-009, NASDAQ completely revamped its OpenView product offering as part of this initiative.
For customers interested in full NASDAQ order depth, NASDAQ offers its full order book depth for NYSE- and Amex-listed issues as well as for NASDAQ-listed issues via its TotalView-Aggregated and TotalView-ITCH data feeds.
For customers interested in top-of-file quotation data ony, NASDAQ supports market participant data for NYSE- and Amex-listed issues via its new OpenView Basic and Level 2 data feeds.
In association with the data format changes, NASDAQ filed revised OpenView fees with the Securities and Exchange Commission (SEC) to reflect these data format. For details, please refer to NASDAQ Vendor Alert #2007-010.
Pricing
The current OpenView user fee is $6 for both professionals and non-professionals.
As noted above, NASDAQ filed a revised OpenView pricing proposal with the SEC. Pending SEC approval, NASDAQ plans lower costs by merging the OpenView and TotalView data entitlements for full depth data and by offering lower user fees for NASDAQ top-of-file data for other exchange listed issues. Please refer to NASDAQ Vendor Alert #2007-010 for details.
Customers may obtain OpenView data in the following ways:
Via Market Data Redistributors: Individual investors and traders may access real-time data through a number of authorized NASDAQ market data distributors. Market data distributors provide both display devices and data feed products containing NASDAQ real-time data.
Via NASDAQ direct data feed products: Trading firms and market data distributors may create a real-time display by processing direct NASDAQ data feed products. Technical specifications for NASDAQ data feed products are available from the NASDAQ Data Products Specifications page. To arrange for connectivity, firms may use an approved Extranet provider or may contact NASDAQ Technical Support to discuss other network options.
Agreements
In order to access OpenView data, all subscribers must execute the appropriate NASDAQ agreements:
End Users: Firms or individuals that receive real-time data via a controlled display device must complete and execute a NASDAQ Subscriber Agreement or equivalent with their market data distributor. Please note: This end-user agreement is provided by the market data distributor, not NASDAQ.
Data Feed Subscribers (Internal Distribution): Firms that receive a delayed or real-time data feed product and only use the data internally need to complete and execute the NASDAQ Data Feed Subscriber Agreement and submit to NASDAQ for approval prior to initiation of service.
Data Feed Subscribers (External Distribution): Firms that receive a data feed product and distribute the data externally, to third-party users, need to submit the following required documents to NASDAQ for approval prior to initiation of service.
