Nasdaq OMX Group is introducing UltraFeed, a feed that aggregates all North American equity, options, futures and index data into a combined stream.
Using its own state of the art technology, Nasdaq OMX said UltraFeed will first be delivered to Quodd Financial Information Services – a full service market data provider. Quodd Financial Information Services will provide UltraFeed to its approximately 550 downstream client firms who, in turn, feed thousands of end-users.
“UltraFeed will provide efficient access to market data from multiple North American markets and data sources in a cost effective manner,” commented Brian Hyndman, SVP, NASDAQ OMX Global Data Products in today’s release. “UltraFeed is NASDAQ OMX’s latest premier market data product that’s being designed to meet the evolving needs of market data vendors and consumers.”
According to Dennis Cassidy, Quodd's president and CEO, with UltraFeed as its new data source, Quodd will be vendor agnostic. providing clients with a wider choice of products and services from a broader variety of vendors. “UltraFeed also gives us the ability to manage our own ticker plant, ensuring faster processing times and greater reliability. Our collaboration with NASDAQ OMX is consistent with our commitment to provide our clients with state-of-the-art and affordable market data products.”
Quodd said it would enhance its market data cache technology. As UltraFeed becomes its new data source in 2012, Quodd will expand its product offering to include TotalView for clients wishing to access depth of book data. Quodd will continue to provide Nasdaq Basic to existing clients that have reaped 50 percent savings on Level 1 fees for the past year.