Exegy And IEX Prepared For Launch Of TOPS Data Feed

Exegy Inc., a leading provider of managed services and technology for market data normalization and distribution, has announced today the availability of a feed handler for the IEX Top of Book Quote Feed (TOPS).  IEX, a fair access Alternative Trading System dedicated to institutionalizing fairness in the financial markets, plans to support displayed orders and to offer aggregated top of book quotations via its TOPS feed beginning on February 27, 2015.
 
 “We are delighted to work with Exegy to ensure successful distribution of TOPS for our subscribers and other market participants that rely on Exegy for their market data infrastructure,” says IEX chief technology officer Rob Park.  Following its launch, the IEX TOPS feed will be provided for free and will offer real-time updates of the aggregated top of book interest for all displayed orders.  “TOPS can help Subscribers to ascertain liquidity at IEX before routing to IEX, and will help Subscribers steadily manage their transition to IEX as a Reg NMS protected venue.  We welcome the additional exposure to potential new subscribers that Exegy provides as an established and well-respected vendor of market data technology and services,” adds Park.
 
The IEX TOPS feed is the latest addition to Exegy’s portfolio of over 200 feed handlers for global equities, options, commodities, and currency markets.  “Our feed handler roadmap is customer-driven, and we have strong demand for the IEX TOPS feed from our sell-side agency and buy-side clients,” says Exegy chief technology officer David Taylor.  Exegy provides the IEX TOPS feed handler at no additional charge to all customers consuming North American equities and commodities data feeds as part of its Managed Services.  Exegy has steadily broadened its offering to address the market data normalization and distribution needs of its growing customer base with global enterprises.  In addition to new market data distribution capabilities and integration adapters, Exegy has enhanced its capabilities to provide composite data views across multiple markets.  “The power and flexibility of our user-defined composite features will allow our customers to include IEX in their search for best execution, while retaining their visibility into the protected quotes comprising the National Best Bid and Offer (NBBO) for regulatory compliance,” adds Taylor.
 
While the displayed top of book interest is not a protected quotation and will not be disseminated through a National Market System Plan Securities Information Process (SIP), IEX has previously announced its plans to become a registered exchange.