9. SCRAPE AT YOUR OWN PERILS
Do you really want to start
on your path to
entrepreneurship success
by stealing intellectual
property? And do you
really think your investors
won’t mind?
12. RECEIVE DISPLAY
Delay (Delayed Quotes/Real-Time Quotes)
Depth (Last Sale/BBO/Level 2/Depth of Book)
Breadth (Single Exchange/Consolidated Tape)
Source (NYSE/NASDAQ/BATS/etc.)
Type of User (Pro/Non-Pro)
Usage (Display/Non-Display/Wallboard/Web/etc.)
Control (Control of Access/Control of Display)
You become a distributor for the exchange.
As a distributor, you may need to sign an agreement and pay licensing fees.
Those fees depend on:
Exchange agreements
and fees make up a
complex domain with
many changing rules,
options, and significant
cost implications. Choose
a data vendor that will
take the time to help you
chose what is right for
your business.
14. DATA HAPPY
• Whether you are building a new
platform, web site, or mobile app, the
temptation is high to integrate tons of
market data in your V1.0 in order to
fuel growth and beat the
competition.
• This may work but also can be overkill
• Just make sure you meet 80% of your
market requirements in V1.0.
• But don’t get far under 80%, or your
product may not stick
• That’s just good product
management
70%
75%
80%
85%
90%
95%
100%
V1.0 V1.1 V2.0 V2.1
DATA COVERAGE VS MARKET NEED BY VERSION
O V E R K I L L
16. TIP
• Not all data sets are created equal.
• Neither are all APIs.
• APIs that seemed cheap on the surface
could waste tons of your time and money
during implementation once you dig in.
Time and money you just don’t have.
• Beware of legacy solutions that will have
you build infrastructure instead of focusing
on your own product and value-dd.
• Look under the surface. Don’t assume
data will be easy to integrate until you try.
Try those APIs before you buy. Be
demanding with your vendor.