NASDAQ's full-depth market-data feed provides ultra-low latency and high-performance visibility of NASDAQ's equities markets. Nasdaq TotalView ITCH features the following data elements (in binary number format) for equities securities traded via the Nasdaq execution system: • Order level data with attribution • Trade messages • Net Order Imbalance Data • Administrative messages • Event controls The TotalView--ITCH feed is made up of a series of sequenced messages. Each message is variable in length based on the message type. The messages that make up the TotalView–ITCH protocol are typically delivered using a lower level protocol that takes care of sequencing and delivery guarantees. Nasdaq offers the TotalView–ITCH data feed in three protocol options: • SoupBinTCP • Compressed viaSoupBinTCP • MoldUDP64 Learn more Asset Classes: Equities Markets: NASDAQ
Full depth feeds carry very high message rates, so feed quality problems tend to appear as microbursts and brief sequence gaps rather than outright outages. Market data analytics detects those conditions on the wire, before they reach book building logic.
