Dark Pools Quotes Book
ITCH Protocol: Market Data Feed In Real Time
ITCH is the ultra-low latency protocol for accessing Real Time Market Data. ITCH has been developed to maximize performance and so meet the requirements of latency sensitive trading strategies. For latency arbitrage this best electronic protocol. For latency arbitrage and HFT, this is one of the fastest methods to get quotes, but at the same time the most expensive.
Connecting via ITCH protocol makes it possible to get quotes directly from the exchange without losing speed and with the maximum possible frequency of data acquisition (1000 updates per second or more).
Benefits Of Using The ITCH Protocol Trading Technology
ITCH is an outbound market data feed only. The ITCH protocol does not support order entry. Timestamps are represented as nanoseconds. Giventhe unshapednetwork traffic, isrequiring firms to have 10 Gb or 40 Gb network connection into the data centers to obtain the ITCH feed.
Truly dark liquidity can be collected off-market in dark pools using ITCH, FIX and FAST protocol based APIs. In finance, a dark pool (also black pool) is a private forum for trading securities, derivatives, and other financial instruments. Liquidity on these markets is called dark pool liquidity. The bulk of dark pool trades represent large trades by financial institutions that are offered away from public exchanges like the New York Stock Exchange and the NASDAQ, so that such trades remain confidential and outside the purview of the general investing public.
The Westernpips Group company conducts a number of new developments on working with dark pool and high-speed direct connections via ITCH, FIX, FAST, BINARY and other protocols in order to generate the highly profitable algorithmic technologies in HFT trading.
Which echnanges support ITCH Protocol access for HFT Trading?
Electronic Trading communications are based on a list of well-defined protocols. Although FIX protocol has grown significant market share, the exchange specific protocols (also called "Native" interfaces) have found a strong backing with low latency traders.
| Exchange | Native Order Flow | FIX Order Flow | Market Data |
|---|---|---|---|
B3 (stock exchange) (aka BM&FBovespa)
|
FIX | FIX4.4 | UMDF (FAST/FIX) |
Bolsa Mexicana de Valores
|
FIX | 4.4 - version 2.4 | INTRA / SIVA TCP |
BIVA
|
OUCH | FIX 5.0 | ITCH |
Boston Options Exchange
|
SAIL | 4.2 | HSVF |
Chicago Mercantile Exchange
|
n/a | iLink | Simple Binary Encoding |
Montreal Exchange
|
SAIL | 4.2 | HSVF |
Nasdaq
|
OUCH 4.2 Client | - | ITCH 5.0 |
NYSE
|
UTP Direct | 4.2 | |
TSX |
FIX Client | TSX-FIX | QUANTUM FEED |
Aequitas Neo |
FIX | FIX | NITCH |
| Cboe Europe | BOE | 4.2 | PITCH |
Eurex |
ETI | 4.4 | FIX/FAST |
Euronext |
UTP Direct | - | - |
| Borsa Italiana IDEM Derivatives | SAIL | 4.2 | HSVF |
Liffe |
- | - | - |
London Stock Exchange |
Millennium | 5.0 sp2 | Level-2 ITCH Market Data |
Moscow Exchange (MICEX) |
MTESRL-TSMR | 4.4 | FIX/FAST |
| Moscow Exchange (RTS) | Plaza2 | 4.4 | FIX/FAST |
Oslo Børs (Derivatives) |
SAIL | 4.2 | HSVF |
| Oslo Børs (Equities) | Millennium | (5.0) | ITCH and FIX/FAST |
| London Stock Exchange UK Derivatives | SAIL (Native) | 4.2 | HSVF |
Xetra |
ETS | 4.4 | FIX/FAST |
Tokyo Stock Exchange |
Arrowhead | 4.2 | FLEX |
| Singapore Exchange Securities Trading (SGXST) | OMEX | - | - |
| Singapore Exchange Derivatives Trading (SGXDT) | OMEX | - | - |
| Hong Kong Futures Exchange (HKFE) | OMEX | - | - |
ITCH is the premium ultra-low latency protocol for accessing Market Information, which is delivered via a multicast connection directly from the Trade platform. ITCH has been developed to maximise performance and so meet the requirements of latency sensitive traders.
Features and Benefits The ITCH protocol provides. The ITCH protocol provides:
The cost of using connection via ITCH protocol
Warning! All Exchange and brokers require a monthly fee for using the ITCH protocol connection. The cost of using this type of connection depends on which Exchange you select to get fast quotes and for trading and what tools you need (currency pairs, indices, gold, cryptocurrency).
For example, quotes/trading from FastMuch Exchange using ITCH Protocol cost about 7500 USD per month. CBOE exchange cost about 5000 USD per month. Lmax Exchnange cost about 25 000 USD per month. The cost also depends on your trading volume and initial deposit. The minimum deposit for opening an account with the possibility of trading through the ITCH protocol is from 10,000 USD.
Other electronic trading protocols
For HFT trading, other faster data transfer protocols and fast quotes are also used: FIX 4.4 Protocol, ITCH protocol and e.t.c. These types of electronic trading are available to larger retail or institutional traders and firms with a capital of 10,000 USD or more, since the use of this technology requires equipment costs and a cross-connect connection with the provider of quotes.
This electronic trading protocol for international real-time exchange of data feed for HFT Trading purpose...
ITCH is the revolutionary outbound protocol for market data transfer and recieve only. This the best way for HFT traders...
Westernpips Private HFT Trading Tools
Westernpips company is the market leader in arbitrage technology for low-latency traders. Since 2007, we have been working, improving and looking for new ways for algorithmic trading and making profit not only by the participants of our company, but also by our customers, partners and investors. Together with you, we have already come a long way and today our products and services are used all over the world and we are trusted by many large institutional traders because we work for the success of our clients and new achievements in high-frequency algorithmic trading and arbitrage in Forex, CFD`s, the market for futures and crypto currencies.
Contact Us
If you are a trader or investor and you are interested in HFT trading technology, please contact us for advice.
westernpips.comwesternpips@gmail.com