Subscription considerations for U.S. market data (Non-Professionals)
In determining the range of market data subscription offerings to make available, IBKR seeks to balance the needs of a wide variety of clients, both in terms of the scope of products traded and the frequency of data use. To afford clients the opportunity to minimize their monthly subscription costs for U.S. data, both bundled and a la carte monthly services are offered as well as options for real-time streaming, snapshot and delayed feeds. Please note, in accordance with regulatory requirements, IBKR no longer offers delayed quotation information on U.S. equities to Interactive Brokers LLC clients.
Outlined below are the basic questions to be considered when deciding which subscription best meets your needs (see website for current subscription rates). Note that clients are not obligated to purchase data through IBKR.
What US Products do you trade?
Generally speaking, clients trading a broad variety of product classes should consider the basic bundled subscription referred to as the US Securities Snapshot and Futures Value Bundle which costs USD 10 per month and provides quotes for a variety of U.S. stocks, stock indices, bonds, futures and futures options. The monthly fee for this subscription is waived for any month in which the account generates at least USD 30 in commissions.
Futures
- US Securities Snapshot and Futures Value Bundle: real-time top of book quotes for CBOT, CME, COMEX, and NYMEXUS.
- Futures Value PLUS Bundle: real-time depth (Level 2) of book quotes for CBOT, CME, COMEX, and NYMEX.1
- ICE Futures U.S. (NYBOT): includes real-time options and LIFFE precious metals futures and futures options.
Bonds
- US Securities Snapshot and Futures Value Bundle: real-time quotes for US corporate bonds and US-Treasuries.
- US Bond Real-Time Data: real-time quotes for US corporate bonds and US-Treasuries offered free of charge.
Options
- OPRA Top of Book: real-time top of book quotes for all U.S. securities option exchanges.
- US Securities Snapshot and Futures Value Bundle: real-time quotes for many of the stock indices which underlie options.
OTC Stocks
- US Securities Snapshot and Futures Value Bundle: real-time top of book quotes for OTCBB and PINK listings.
National Market System (NMS) Stocks - the subscription elections for NMS stocks (i.e., NYSE, AMEX, NASDAQ & Cboe listings) are varied and depend upon the following considerations:
How often would you like to see real-time quotes?
Occasionally
- US Securities Snapshot and Futures Value Bundle: includes real-time top of book quotes for stocks listed on each of the NYSE, AMEX and NASDAQ exchanges. Intended for occasional users as no quotes are provided unless a “snapshot” refresh is requested, with each request subject to a USD 0.01 fee. If the number of refresh requests reaches 150 for a given exchange in a given month, the monthly cost for that exchange will be capped at USD 1.50 and the subscriber will receive real-time streaming quotes for that exchange for the remainder of the month at no additional charge (i.e., the maximum snapshot fee for a given month for all three exchanges is USD 4.50). Note that while the base fee of USD 10 for this bundle is waived for accounts generating at least USD 30 monthly commissions, the fee for snapshot quote requests is not waived.
Routinely
- NYSE (Network A), AMEX (Network B), NASDAQ (Network C): real-time streaming top of book quotes for each the NYSE, AMEX and NASDAQ exchanges which may be subscribed to on an a la carte basis for USD 1.50 per month each (USD 4.50 for all). Intended for users who trade securities listed on only one or two of the above exchanges on a frequent basis.
- Cboe One: real-time streaming quotes from the four Cboe US equity exchanges for USD 5 per month.
- OPRA Top of Book: real-time top of book quotes for all U.S. securities option exchanges which may be subscribed to for USD 1.50 per month
- US Equity and Options Add-On Streaming Bundle1: Includes NYSE (Network A), AMEX (Network B), NASDAQ(Network C), and OPRA(US Options). Intended for users who trade securities listed on all of the above exchanges on a frequent basis. Will replace the snap quotes provided under the basic US Securities Snapshot and Futures Value Bundle subscription and costs USD 4.50 per month.
- Cboe One Add-On1: real-time streaming quotes from the four Cboe US equity exchanges. Will replace the snap quotes provided under the basic US Securities Snapshot and Futures Value Bundle subscription and costs USD 1 per month.
How much commissions do you typically generate per month?
Less than USD 30 per month
- NYSE (Network A), AMEX (Network B), NASDAQ (Network C): real-time streaming top of book quotes for each the NYSE, AMEX and NASDAQ exchanges. If you trade only NMS stocks and generate commissions of less than USD 30 per month, you can receive real-time streaming stock quotes for all three exchanges at a monthly cost of USD 4.50 vs. snap quotes at a monthly cost of USD 10.
- Cboe One: real-time streaming quotes from the four Cboe US equity exchanges for USD 5 per month. If you trade only NMS stocks and generate commissions of less than USD 30 per month, you can receive real-time streaming stock quotes for all three exchanges at a monthly cost of USD 5 vs. snap quotes at a monthly cost of USD 10.
More than USD 30 per month
- US Securities Snapshot and Futures Value Bundle: includes real-time top of book quotes for stocks listed on each of the NYSE, AMEX and NASDAQ exchanges on a snapshot request basis. There is no cost to elect this subscription as the fee is waived if you generate monthly commissions of at least USD 30. You may wish to consider augmenting this subscription with any of the NYSE (Network A), AMEX (Network B), NASDAQ (Network C) real-time streaming services at a monthly cost of USD 1.50 each.
What exchanges do you trade?
Limited population
- NYSE (Network A), AMEX (Network B), NASDAQ (Network C): real-time streaming top of book quotes for each the NYSE, AMEX and NASDAQ exchanges. If you trade securities listed on a subset of these three exchanges, you can receive real-time streaming stock quotes at a monthly cost of USD 1.50 for each. If you also maintain a subscription to the US Securities Snapshot and Futures Value Bundle, the real-time feed will serve to overlay the snap quote for any of the individual exchanges selected and you will receive snap quotes for the remainder. If you are not subscribed to the US Securities Snapshot and Futures Value Bundle, then you will receive no quotes for US stocks as delayed quotes are not provided for U.S. stocks on live accounts due to FINRA regulations.
All
- US Equity and Options Add-On Streaming Bundle1: Includes NYSE (Network A), AMEX (Network B), NASDAQ(Network C), and OPRA(US Options). Intended for users who trade securities listed on all of the above exchanges on a frequent basis. Will replace the snap quotes provided under the basic US Securities Snapshot and Futures Value Bundle subscription.
- US Equity and Options Add-On Streaming Bundle1: Includes NYSE (Network A), AMEX (Network B), NASDAQ(Network C), and OPRA(US Options). Intended for users who trade securities listed on all of the above exchanges on a frequent basis. Will replace the snap quotes provided under the basic US Securities Snapshot and Futures Value Bundle subscription.
- Cboe One/ Cboe One Add-On1: real-time streaming quotes from the four Cboe US equity exchanges. Will replace the snap quotes provided under the basic US Securities Snapshot and Futures Value Bundle subscription.
1Requires a subscription to the US Securities Snapshot and Futures Value Bundle.