DEEP

Depth of Book and Last Sale Feed

DEEP will launch on Monday, May 15, 2017. For additional detail please see IEX Trading Alert #2017 – 011.

DEEP is used to receive real-time depth of book quotations direct from IEX. The depth of book quotations received via DEEP provide an aggregated size of resting displayed orders at a price and side, and do not indicate the size or number of individual orders at any price level. Non-displayed orders and non-displayed portions of reserve orders are not represented in DEEP.

DEEP 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.

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.

Specifications

Data Feed Version Protocol Options
DEEP IEX DEEP v1.0 IEX-TP v1.2 (Transport Protocol)
TOPS IEX TOPS v1.5 IEX-TP v1.2 (Transport Protocol)

Sample Packet Capture

Data Feed Version Publish Date
DEEP IEX DEEP v1.0 April 25, 2017
TOPS IEX TOPS v1.5 July 9, 2016

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.

Agreements

Users must complete, execute, and submit the necessary agreements and forms before accessing DEEP or TOPS.

File Agreement or Form (Pages in File) Requirement
IEX Data Agreements and Forms Data Agreement (pg. 2-10) All Data Recipients
IEX Data Agreements and Forms Exchange Data Request Form and System Description (pg. 11-14) All Data Recipients
IEX Data Agreements and Forms List of Affiliates (pg. 15) Required for firms that distribute data to affiliates
IEX Data Agreements and Forms Service Facilitator List (pg. 16-17) Required for firms that use a service facilitator to disseminate IEX data
IEX Data Subscriber Agreement Data Subscriber Agreement (pg. 1-5) Required for firms that distribute data externally
IEX Connectivity Agreements and Forms Connectivity Services Agreement (pg. 3-6) If connecting via Cross-Connect or Private Line Ethernet
IEX Connectivity Agreements and Forms Physical Connectivity Order Form (pg. 7) If connecting via Cross-Connect or Private Line Ethernet

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