TOPS

Top of Book Quote and Last Sale Feed

TOPS is used to receive real-time top of book quotations direct from IEX. The quotations received via TOPS provide an aggregated size and do not indicate the size or number of individual orders at the best bid or ask. Non-displayed orders and non-displayed portions of reserve orders are not represented in TOPS.

TOPS also provides last trade price and size information. Trades resulting from either displayed or non-displayed orders matching on IEX will be reported. Routed executions will not be reported.

Agreement

Users must complete, execute, and submit an IEX Data Agreement before accessing TOPS.

Download agreement

Specifications

Data Feed Version Protocol Options
TOPS IEX TOPS v1.5 IEX-TP v1.2 (Transport Protocol)

Sample Packet Capture

Sample packet capture output for TOPS v1.5 is current as of July 9, 2016.

Download

Pricing

Market Data Fees Fee
Internal Distribution Fee Free
External Distribution Fee Free
Usage Fee Free

IEX will use commercially reasonable efforts to provide at least thirty (30) days’ advance notice to Data Subscriber (delivered via email and/or posted to IEX’s website) of any changes to its fee schedule.

Definitions

Internal Distribution Fee is charged to any entity that receives the Exchange Market Data product directly from the Exchange or indirectly through another entity and then distributes the Exchange Market Data product internally or to an affiliate.

External Distribution Fee is charged to any entity that receives the Exchange Market Data product directly from the Exchange or indirectly through another entity and then distributes the Exchange Market Data externally to a third party.

Usage Fee is the fee charged for system or individuals’ usage of Exchange Market Data.

Access

  1. ACTIV Financial
  2. Connectivity In a Box (CIB)
  3. Exegy
  4. R2G Services
  5. Redline Trading Solutions
  6. Rithmic
  7. Vela Trading Technologies