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Reference data is a catch all term used in the finance industry to describe counterparty and security identifiers used when making a trade. As opposed to market data the reference data is used to complete financial transactions and settle those transactions. The financial service industry and regulatory agencies have pursued a policy of ...
The Securities Industry Automation Corporation (SIAC), which is a subsidiary of NYSE, operates and maintains the CTA's and OPRA's infrastructure. [12] The participant exchanges and market centers that send trade and quote data to the UTP Plan's SIP operate under a service agreement with Nasdaq. [13]
A National Securities Identifying Number, or NSIN, is a generic nine-digit alphanumeric code which identifies a fungible security. The NSIN is issued by a national numbering agency (NNA) designated for that country. Regional substitute NNAs have been allocated the task of functioning as NNAs in those countries where NNAs have not yet been ...
The FIX Trading Community is a non-profit, industry-driven standards body with a mission to address the business and regulatory issues impacting multi-asset trading across the global financial markets through the increased use of standards, including the FIX Protocol messaging language, delivering operational efficiency, increased transparency, and reduced costs and risk for all market ...
Island published an electronic feed called "ITCH" of all trades in the system, and used a protocol called "OUCH" to place orders. The data feed was accessible for free, an innovation over the tightly controlled data for traditional exchanges, and trading fees were significantly lower than on Nasdaq. [3]: 119–120
Since the late 1970s, all SEC-registered exchanges and market centers that trade NYSE or AMEX-listed securities send their trades and quotes to a central consolidator where the Consolidated Tape System (CTS) and Consolidated Quotation System (CQS) data streams are produced and distributed worldwide. The CTA is the operating authority for CQS ...
The Consolidated Quotation System (CQS) is the electronic service that provides quotation information for stock traded on the American Stock Exchange, New York Stock Exchange, and other regional stock exchanges in the United States and also includes issues traded by FINRA member firms in the third market.
A big boy letter is a pre-sale agreement in connection with a private sale of securities (such as in a PIPE transaction) not to sue over non-disclosure of material inside information that is not disclosed, entered into between two sophisticated parties. Big boy provisions may also be contained within securities purchase agreements, rather than ...