Understanding Market Data Subscriptions

While market data might seem overwhelming at first, it can be broken down and made more digestible from covering a few important points.

1. Level 1 market data subscriptions provide: live watchlist data, tick-by-tick data, historical bar data, historical tick data.
2. Level 2 market data subscriptions only are needed for market depth.
3. The OPRA market data subscription will provide options data for all options in the United States.
   • Options Greeks data is based on  the underlying symbols. As such, a market data subscription for both the underlying and derivative are necessary for options greeks data.
4. Indices sometimes require a separate market data subscriptions from the derivatives, and may require a direct market data subscription.