Cboe One Feed
The Cboe One Feed is a market data product that provides cost-effective, high-quality reference quotes and trade data for market participants looking for comprehensive, real-time market data.
Comprehensive View of the Market
With one product and one license, the Cboe One Feed provides market participants a comprehensive, unified view of the market from all four Cboe equity exchanges: BZX Exchange, BYX Exchange, EDGX Exchange and EDGA Exchange.
These four exchanges combine to make Cboe one of the largest exchange operators for U.S. equities trading.
The data below demonstrates the rich and deep liquidity represented in the Cboe One Feed:1
Cboe One Feed Quotes
are within 1% away from the National Best Bid and Offer (NBBO) 97.79% of the time, on average.
Two Versions for Additional Depth
Two versions of the Feed are offered, allowing recipients to select their preferred level of depth. Both versions Cboe One Summary Feed and Cboe One Premium Feed provide aggregated quote and trade updates for the Cboe Exchanges. The Cboe One Premium Feed also includes five levels of aggregate depth information for all four exchanges.
|Feed||Best Quote||Depth Levels||Bandwidth|
|Cboe One Summary Feed (Top + Last Sale)||Yes||0||100 MB|
|Cboe One Premium Feed (Top + Last Sale + 5 levels aggregate depth)||Yes||5||250 MB|
Flexible Licensing Options
Cboe offers a variety of licensing options to fit the needs of our various customers. These licensing options are available on the Cboe One Summary Feed and each of the four Cboe U.S. Equities Top-of-Book Feeds.
Digital Media License
Our Digital Media License makes it seamless for financial information providers and general news websites to showcase real-time quote and trade data on open public websites and applications to help drive more traffic and better engagement.
Small Retail Broker Program
Small retail brokers that support up to 5,000 individual investors can benefit from lower costs for the Cboe One Summary Feed. Take advantage of real-time U.S. equity quote & trade information at reduced rates while focusing on scaling your business effectively.
Our Enterprise Licenses are designed for any firm interested in distributing real-time market data to unlimited numbers of professional and non-professional users across their organization all while benefiting from pricing certainty and reduced reporting requirements.
The Cboe One Feed is 60% less expensive per professional user and more than 85% less expensive for an enterprise license for professional users and non-professional users2 when compared to a similar competitor exchange product. External Distributors that are first-time subscribers to the Cboe One Summary Feed will receive the data for one month with no External Distribution Fee.
|Monthly Fee||Cboe One Summary||Cboe One Premium|
|Pro User Fee||$10||$0|
|Non-Pro User Fee||$0.25||$0|
|Pro User Fee||$10||$15|
|Non-Pro User Fee||$0.25||$0.50|
|Data Consolidation Fee||$1,000||$1,000|
|Digital Media License**||$15,000||$25,000|
|*External Distributors will receive a User Fee credit for each user they obtain up to the total cost of the External Distribution Fee.|
|**Via television, websites and mobile devices for informational and non-trading purposes only.|
The Cboe One Feed is offered from Cboe’s primary datacenter (Equinix’s NY5) and secondary datacenter (CenturyLink’s CH4), along with Cboe’s Points-of-Presence (PoP) in Equinix’s NY4 and CH1.
Recipients will have the ability to take the Cboe One Feed via either TCP/IP or Multicast, and either delivery method can be used as a standalone product. Additionally, the TCP/IP feed can be used to augment the Multicast feed for recovery and start up purposes as both delivery methods use the same binary protocol and sequencing to allow for easy arbitration.
Multicast Gap Recovery
Firms that elect to receive the Cboe One Feed via Multicast may optionally request a Cboe One Gap Request Proxy (GRP) session to request retransmission of a missed message(s). Gap requests will be made via TCP/IP to the GRP server, and the requested messages will be retransmitted on designated gap response Multicast Addresses. Firms receiving the Cboe One Feed via Multicast are also advised to take the same version (Summary or Premium) of the Cboe One Feed via TCP/IP for the purpose of replaying messages out of range of the GRP server or obtaining a refresh of the current state of the Cboe books intraday.
Resources & Subscribe
To subscribe to the Cboe One Feed, contact Market Data Services at [email protected] or +1.212.378.8821
Access the Cboe One Feed Technical Specifications here.
- Source: Cboe One Data Feed Internal Analysis using data from 2021-07-22
- Who are entitled to receive the competing product’s best bid and offer information for securities listed on NASDAQ, NYSE, NYSE MKT and other Tape B exchanges.