For a list of market data vendors click here. For market data vendors interested in adding NGM to its range of supported markets, please contact NGM Market Data (see contacts on the side).
Market data vendors must sign an Agreement of Distribution and Publication of Market Information (see below) with NGM. To retrieve the market data from NGM, market data vendors can either connect directly to the NGM exchange or take the data from one of the existing market data vendors. For information on technical requirements related to becoming a market data vendor with direct access to Elasticia, please see the section market access.
Apart from retrieving market data from any of our market data vendors, end customers can connect directly with NGM to receive market data. Real time full order depth market data is available via the NGM FIX Protocol and those in need of less frequent snapshots of market data can use the Market Data API (MDAPI), which is an HTTP-based service.For more information on the technical services, contact NGM Technical support and for more information on agreements in relation to market data, contact NGM Market Data.
NGM’s market data consists of pre-trade, post-trade as well as reference data. In the agreements of market data listed under the sections above, unless a client would opt for an pre- or post-trade only usage, all data from NGM as well as Spotlight Stock Market is included.See the information on the right side of this page for information on the current number of listed instruments and turnover of the instruments.
NGM’s revenue of market data in relation to the total revenue for 2016 was 4,9%
The ratio between pre-trade(*) messages vs. post-trade(**) messages is normally ~3000-5000:1(*) order/quote messages disseminated in market data
First it should be said that NGM’s cost for producing market data outweigh the revenues from market data. The rationale behind offering market data is to facilitate transparency and enable trading. Our market data prices are usually adjusted annually. NGM does not allocate separate costs for market data, thus the cost for our production of market data is grain-coursed. The following assumptions are the basis for the calculation:
- It is estimated that 33% of the infrastructure costs from the operations of the system that hosts the market venue are related to NGM’s market data.
- It is estimated that 33% of the personnel costs for the IT operations team at NGM is related to NGM’s market data maintenance and support.
- It is estimated that 33% of the personnel costs for the IT development team at NGM is related to NGM’s market data maintenance and development.
- Outside of the above mentioned teams more than 50% of the employees are from time to time directly or indirectly involved in the work related to production, provisioning and supporting of information related to market data. In average it is assumed that these employees spend about 5% of their time working on tasks related to market data-related.