CBOE Streaming Markets (CSM) Frequently Asked Questions

1. Q. What is CBOE/C2 Streaming Markets?
A. Data feeds that are low latency streams of current market data for CBOE and C2 options markets made available through Market Data Express (MDX).

2. Q. Is the data available through extranet providers?
A. Yes, most extranet providers will carry our data including Pico Trading, Victory Networks/Sailfish, SFTI, Radianz, GuavaTech, Savvis, Options-IT, and R2G Services LLC.

3. Q. Can real-time be displayed on an open website?
A. No

4. Q. How much bandwidth is necessary for CSM?
A. CBOE BBO and Book Depth - 10GB
C2 BBO and Book Depth - 1GB

5. Q. If I choose to go through an extranet, are there any system fees?
A. Yes, there is a $500 per month port fee.

6. Q. What happens after the contract is signed?
A. If connecting direct to CBOE Financial Network (CFN) - We will put you in contact with our API team.
If using an extranet - We will contact your extranet provider and let them know it is okay to enable your firm.

7. Q. How many levels of the book are included in book depth?
A. Up to 5 levels

8. Q. What is Display Only service?
A. It is a view only service for external distribution of BBO and Book Depth data feeds.

9. Q. If I sign up for both BBO and Book Depth data and would also like the Display Only service, what is the cost for display only?
A. It is $50 per user per month for one or both data feeds.

10. Q. What is the cost if my firm wants CBOE BBO and Book Depth and/or C2 BBO and Book Depth?
A. The data cost for CBOE is $6,000 per month and $1,000 per month for C2.

11. Q. How often is the data refreshed?
A. The CBOE Streaming Market feed will refresh data for a product over the same multicast group that products current market and ticker data was sent on. Currently the refresh interval is set to approximately 2 minutes (120 seconds). The new refresh cycle starts immediately after the previous one ends.

12. Q. How do you report users?
A. For CBOE, C2 BBO and Book Depth you do not have to report users. For the Complex Order Book (COB) you need to report all professional users on a monthly basis. Please contact mdx-ar@cboe.com.

13. Q. What are the hours of operation?
A. CSM will operate from 8:30 a.m. - 3:15 p.m. CST and 2:00 a.m. - 8:15 a.m. CST for extended hours.

14. Q. What data is sent out pre-open?
A. Pre-open data will include the product definition and product state. Market orders will not be included.

15. Q. Are re-transmissions available?
A. No. The database will be refreshed every 2 minutes.

16. Q. Is the data pulsed or streaming?
A. It is a streaming multicast feed.

17. Q. Is there a back-up to this system?
A. A warm slave will take over in the event of a failure.

18. Q. What format is the data in?
A. Options data will be sent multicast.

19. Q. Will trades be included?
A. Yes.

20. Q. Will strategy quotes and trades be included?
A. Yes.

21. Q. Is there a separate charge for internal use only?
A. No.

22. Q. What contingency quotes will be included?
A. All-or-non orders (AON) equal or greater than CBOE's BBO.

23. Q. Is there a disaster recovery site and how much?
A. Yes, the cost is $250 per month. Our API Team can set up a connection.

24. Q. Are there other fees associated with receiving CBOE and/or C2 CSM data?
A. Yes. The cost for CBOE port frees per month is $3,500 per line ($7,000 month). The cost for C2 per month is $1,000 per month ($2,000 month). Every firm is required to have dual lines.