Interactive Data Adds Direct Edge Data to Consolidated Feed

Interactive Data has added market data from Jersey City, NJ-based equities exchange Direct Edge to its Consolidated Feed (formerly known as PlusFeed) real-time datafeed of exchange and over-the-counter data, making it easier for trading and investment firms to access Direct Edge's data without needing to connect to direct feeds from the exchange.

The vendor has integrated Direct Edge's EdgeBook Depth feed of full-depth data from its EDGA and EDGX exchange marketplaces.

Glenn Wasserman, senior vice president and global head of product management in Interactive Data's Trading Solutions division, says the vendor added the new data in response to customer demand for an easier and more cost-effective way to access the data, without having to keep track of feed specification changes. "Our focus is on maximizing transparency of -- and access to -- liquidity. It is very expensive for customers to keep up with the many changes that take place with exchange feed products on a global basis. This is one of the key reasons that most firms look to leverage vendor-provided consolidated feed services," he adds.

Bryan Harkins, chief operating officer at Direct Edge, says Interactive Data may have seen demand as a result of the exchange's position in retail order execution, according to Securities and Exchange Commission Rule 606 Reports on discount broker-dealers' client order flow. "Among some of the top retail household national stocks, Direct Edge is either number one or number two out of US exchanges," he says.

"Direct Edge has made a lot of progress in rolling out our data industry-wide, and our partnership with Interactive Data is an example of that," he says. "As we continue to mature as an exchange, we become stronger with the more distribution we can get for our data... and a vendor with Interactive Data's reach helps us broaden our brand, while also helping them expand their content."

Harkins says Interactive Data captures the data via a port on Direct Edge's multicast broadcast stream. Wasserman says integrating the data was "standard practice" for the vendor. "Utilizing our ticker plant, we are able to quickly and easily integrate new exchange feeds into our consolidated feed," he says.