Bandwidth Guidelines SM for SFTI B2B Services

Bandwidth Guidelines for SFTI B2BSM Services*

Table of Contents
Activ Financial .......................................................................................................................... 2 ADP Wilco ................................................................................................................................ 2 The Bank of New York (BONY)................................................................................................ 3 BATS ........................................................................................................................................ 4 Boston Stock Exchange (BSE)................................................................................................. 4 Boston Options Exchange (BOX)............................................................................................. 5 CBOE ....................................................................................................................................... 7 Chicago Mercantile Exchange (CME) ...................................................................................... 8 Chicago Stock Exchange (CHX) .............................................................................................. 9 Currenex ................................................................................................................................ 10 EURONEXT-LIFFE ................................................................................................................ 12 ISE ......................................................................................................................................... 13 Montreal Exchange ................................................................................................................ 13 NASD ..................................................................................................................................... 14 NASDAQ ................................................................................................................................ 14 Philadelphia Stock Exchange (PHLX) .................................................................................... 23 Toronto Stock Exchange (TSX).............................................................................................. 23

As of 9/10/2007

Page 1

Activ Financial
APPLICATION AF_NA DESCRIPTION Equities & Futures – This “North American” stream contains equities, futures, fundamental, forex and administration data. All ActivFeed subscribers must receive this component. • Multicast Options NBBO – This optional stream contains the NBBO (National Best Bid and Offer) data from OPRA (aka Top of Book). • Multicast Options Full- This optional stream contains the full OPRA order book data including NBBO. (It should be noted that the raw feed directly from OPRA requires in excess of 200 MBPs+ of bandwidth, making this compressed Multicast a very cost effective alternative.) • Multicast This optional stream contains news. • Multicast BANDWIDTH 10 Mbps

AF_OPRA_NBBO

17 Mbps

AF_OPRA_FULL

38 Mbps

AF_NEWS

.25 Mbps

ADP Wilco
APPLICATION SWIFT Service Bureau DESCRIPTION ADP Wilco’s SWIFT Service Bureau provides fast-track access to the SWIFT network for the full range of SWIFT messages including securities, treasury, derivatives, payments and corporate actions, all in a complete service environment. Protocol Options: • ISO 15022 • XML • SWIFT Alliance • TCP/IP • SNA • HTTP • MQ Series • FTP • FIX BANDWIDTH Varies depending on usage (protocol and application)

As of 9/10/2007

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The Bank of New York (BONY)
APPLICATION GSCX GSCX Test RepoEdge RepoEdge Test RDARS FTP NDM MQ RDARS Business Recovery Class BANDWIDTH 56K 56K 56K 56K 56K 56K 56K 56K 56K 56K

As of 9/10/2007

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BATS
APPLICATION Order Entry DESCRIPTION BATS subscribers use a subset of the FIX 4.2 protocol for order entry and drop copies. • FIX - Unicast BATS uses a variation of the DROP protocol to provide real-time information about executions. • DROP - Unicast BATS subscribers may use the PITCH protocol to receive real-time full depth of book quotations and execution information directly from BATS. BATS also reflects its top of book quote, and may also reflect its depth of book quotes, via the SRO (self regulatory organization) upon which it is quoting. That SRO in turn reflects its quotes in the consolidated quote. • PITCH – Unicast • FAST Pitch – Unicast BANDWIDTH 1.5mb (depending on activity) 256kb – 1.5mb (depending on activity)

Trade Information

Order Book

PITCH: 10 mb – 15mb (higher bandwidth provisioning recommended to avoid delays and gapping.) FAST PITCH: 3-5mb

Boston Stock Exchange (BSE)
APPLICATION BSE CMS IP BSE FIX IP NASDAQ DESCRIPTION For BSE Order Flow For BSE Order Flow For NASDAQ order flow through BSE to reach NASDAQ BANDWIDTH 64K - 128K 64K - 128K

Technology Access Fee = $100/Meg monthly recurring. B2B discount rules apply to the Technology Access Fee.

As of 9/10/2007

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Boston Options Exchange (BOX)
APPLICATION Order Routing DESCRIPTION FIX is an order management protocol widely used by professional trading systems as well as many private client order management systems. BOX provides a FIX interface which allows BOX Participants who are already using a FIX protocol for order routing and management to other options markets to connect to the BOX trading engine with a minimum of effort. The FIX interface provides a subset of BOX trading engine functions and is therefore better suited to the "non-Market Maker" category of Participants.

BANDWIDTH 128 kbs

FIX - Unicast 24 kbs Per quote/sec Will be replaced by a new protocol “SAIL”.

MMTP

MMTP is the native interface to the BOX trading engine. It is the “richest” of all the interfaces since it provides full access to all the trading engine’s functionality such as the Price Improvement Period, strategy creation and trading and market maker bulk quoting. It is only used for order management with the BOX trading engine; the broadcast portion of the BOX market is available via a separate protocol known as HSVF (see following section).

MMTP - Unicast 80 mbps

HSVF Market Feed – Five Best Limits (all classes)

The native interface to the BOX trading engine. It is the “richest” of all interfaces since it provides full access to all the trading engine’s functionality such as the Price Improvement Period, strategy creation and trading and market maker bulk quoting. It is only used for order management with the BOX trading engine; the broadcast portion of the BOX market is available via a separate protocol known as HSVF (see following section) • Unicast HSVF is the proto9col for receiving BOX market data directly from BOX rather than via one of the commercial data vendor suppliers (who are themselves receiving data from the Options Price Reporting Authority (OPRA). It is available only to BOX Participants. Generally speaking, it is the preferred market data source for BOX Market Makers. A number of functionalities are exclusive to HSVF such as the five best limits for each option instrument (OPRA broadcast only receives the BOX best limits) or the initiating and improvement order related to a Price Improvement Period Auction. • Unicast • Unicast

HSVF Market Feed – Best Limits (all classes)

160 mbps Represents peak traffic and receiving all classes.

HSVF NBBO

6 mbps Represents peak traffic and receiving all classes.

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CBOE
APPLICATION ONE CQ/LS DESCRIPTION Current Quote and last sale for the OneChicago Exchange
• • • • •

BANDWIDTH 1.7 mbps

ONE BD

Multicast CFN product Book Depth for ONEChicago Exchange • Multicast • CFN product

3.0 Mbps

CFE CQ/LS

CFE BD

MDI

CMi (CBOE Market Interface)

FIX

Current quote and last sale for the Futures Exchange • Multicast • CFN product Book depth for the Futures Exchange • Multicast • CFN product A new service for MDX comprised of index values such as SPX, OEX, VIX, etc. • Multicast CBOE proprietary API for quoting and order entry. CBSX book depth information is available through this interface. • Unicast CBOE supports the FIX protocol for order routing.
• Unicast CMS interface for order entry •

100 kbps

150 kbps

30Kbps

The amount of bandwidth required by each is dependent on several factors and varies widely. The amount of bandwidth required by each firm is dependent on several factors and varies widely. The amount of bandwidth required by each firm is dependent on several factors and varies widely. The amount of bandwidth required by each firm is dependent on several factors and varies widely. The amount of bandwidth required by each firm is dependent on several factors and varies widely.

Compass

Unicast

CTM

CBOE Trade Match

Unicast

CBOEDirect

CBOE Direct replicates CBOE’s trading floor on a screen. CBOEDirect currently supports the trading of some of CBOE’s most popular index products during extended trading hours (7:00am – 8:15am). • Unicast

As of 9/10/2007

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Chicago Mercantile Exchange (CME)
APPLICATION Channel 3 Channel 4 Channel 5 Channel 6 Channel 7 Channel 8 Channel 9 Channel 10 Channel 11 Channel 12 Channel 13 Channel 14 Channel 17 Channel 18 Channel 30-32 DESCRIPTION Open Outcry Cash Index Data ITC 2.1 • Multicast Globex Futures Top of Book (ITC 2.1) • Multicast Globex Options Top of Book (ITC 2.1) • Multicast Globex Spreads Top of Book (ITC 2.1) • Multicast Globex Equity Futures • Multicast Globex Equity Options • Multicast Globex Interest Rate Futures • Multicast Globex Interest Rate Options • Multicast Globex FX Futures • Multicast Globex FX Options • Multicast Globex Commodity and TRAKRS Futures • Multicast Globex commodity and TRAKRS Options • Multicast Auction Markets (CAM) • Multicast MDP Lite • Multicast NYMEX Futures • Multicast BANDWIDTH 700K 1.5M 2.7M 4.5M 1M 3M 3.6M 1.3M 800K 1.2M 300K 350K 1K 5M 4.6M (Not yet available)

As of 9/10/2007

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Chicago Stock Exchange (CHX)
APPLICATION CHX FIX DESCRIPTION The CHX FIX protocol allows users to access the MAX trading system and CHX Floor Brokers using the BrokerPlex system. In the Exchange’s New Trading Model (NTM), FIX order-senders will be able to access CHX Institutional Brokers (BrokerPlex) and the CHX Matching System. CHX FIX users will also be able to route orders to NASD market makers, order routing vendors and other entities that interface with CHX’s network. Entities registered as CHX market makers may use the CHX FIX protocol to enter orders to the Matching System. CHX FIX supports a wide array of order types, attributes and NTM functionalities. • FIX CHX CMS is the Exchange’s legacy CMS order sending protocol to access the MAX trading system and CHX Floor Brokers. Users of CHX CMS in the Exchange’s New Trading Model (NTM) may access NASD market makers, order routing vendors and other entities that interface with the CHX routing network. CMS users may also access CHX Institutional Brokers (BrokerPlex) and the CHX Matching System, but in the NTM, the CMS protocol will not support all Matching System eligible order types or messaging functionalities. The Exchange’s NTM is currently scheduled for implementation in the fall of 2006. CHX supports the TCP/IP protocol and will phase out the Bisync and X.25 protocols in the near future; as such, new Bisync and X.25 connections will not be accepted. • Unicast

BANDWIDTH 64kbps – 256kpbs

CHX CMS

64kbps – 256kpbs

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Currenex
APPLICATION Currenex Production OMS GUI Connection DESCRIPTION Connection to Currenex OMS application graphical user interface.FIX • Unicast TCP/IP

BANDWIDTH Between 128kb (200ms updates) and 512kb (live updates) per user depending on data requirements. The peak update rate is configurable by Currenex 1 Mb minimum Production Environment. Live Trading.

Currenex Production Java API

Currenex Production RealTime STP Currenex Production FIX Orders Gateway

Java API connection to the Currenex Trading Platform. Two separate logical connections allow receiving rates and placing orders against received rates: • Top of Book • Full Book Aggregated • Full Book non-Aggregated • UnicastTCP/IP Supports posting of completed trade details in real time to client • XML/HTTPS

• •

FIX protocol connection to the Currenex Trading Platform for placing, modifying or canceling orders • FIX

Currenex Production FIX Market Data

FIX Market data protocol connection to the Currenex Trading Platform. Rate subscription can be one of: • Top of Book • Full Book Aggregated • Full Book non-Aggregated • FIX Supports straight through processing real-time post trade delivery via FIX protocol of trades completed on the Currenex platform. • FIX Supports delivery via the FIX protocol of the price of the last trade done in each currency or precious metals instruments on the Currenex platform. • FIX

• 256kb • Production Environment. Live Trading. • 256kb Mb per logical connection • Production Environment. Live Trading. • 1 Mb per logical connection minimum • Production Environment. Live Trading.

Currenex Production STP FIX Real-time Currenex Production FIX Ticker

• 256kb • Production Environment. Live Trading. • 256kb • Production Environment. Live Trading.

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Currenex
Continued
Currenex Integration OMS GUI Connection Connection to Currenex OMS application graphical user interface. • Unicast TCP/IP • Between 128kb (200ms updates) and 512kb (live updates) per user depending on data requirements. • The peak update rate is configurable by Currenex. • Same as production connection but for integration testing. • 1 Mb minimum • Same as production connection but for integration testing.

Currenex Integration Java API

Currenex Integration RealTime STP Currenex Integration FIX Orders Gateway

Java API connection to the Currenex Trading Platform. Two separate logical connections allow receiving rates and placing orders against received rates: • Top of Book • Full Book Aggregated • Full Book non-Aggregated • Unicast • TCP/IP Supports posting of completed trade details in real time to client • XML/HTTPS

FIX protocol connection to the Currenex Trading Platform for placing, modifying or canceling orders • FIX

Currenex Integration FIX Market Data

Currenex Integration STP FIX Real-time Currenex Integration FIX Ticker

FIX Market data protocol connection to the Currenex Trading Platform. Rate subscription can be one of: • Top of Book • Full Book Aggregated • Full Book non-Aggregated • FIX Supports straight through processing real-time post trade delivery via FIX protocol of trades completed on the Currenex platform. • FIX Supports delivery via the FIX protocol of the price of the last trade done in each currency or precious metals instruments on the Currenex platform. • FIX

• 256kb • Same as production connection but for integration testing. • 256kb Mb per logical connection • Same as production connection but for integration testing. • 1 Mb per logical connection minimum • Same as production connection but for integration testing. • 256kb • Same as production connection but for integration testing. • 256kb • Same as production connection but for integration testing.

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EURONEXT-LIFFE
APPLICATION DESCRIPTION Trading Services – cash and derivative markets LIFFE CONNECT Derivatives and Equities Markets Trading System (Interest Rates, Bonds, Index Futures and Options, Equities Options and Currencies) 2Mbps (All derivatives and equities products fit into 2 Mbps) BANDWIDTH

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ISE
APPLICATION Depth of Market DESCRIPTION The ISE Depth of Market feed provides real-time order book information which shows aggregated quote and order volume for the top five price levels. This is a multicast feed that takes advantage of the new FIX FAST (FIX Adapted for Streaming) market data protocol which is optimized to reduce bandwidth and minimize latency. OMX and ISE collaborated to develop CLICK Trade™, a proprietary front-end software application for managing order flow, including entering and canceling orders. The CLICK Trade™ application, used only by Electronic Access Members (EAMs), accesses the ISE market over a dedicated telecommunications line, and provides traders with direct access to the Exchange’s posted prices. The workstation also receives continuous market updates from the Central Exchange System throughout the trading day. The CLICK Trade™ application is licensed to EAMs by ISE. EAMs must furnish their own PC and LAN. The ISE Order Routing System (IORS) is designed to provide order entry, order management and trade reporting functions. IORS supports option strategies with up to 4 legs, including option orders with stock such as Buy-Writes and Delta Neutral orders. IORS does not support quoting and does not provide any market data. The Financial Information Exchange (FIX) protocol is an open message standard that supports the real-time electronic exchange of securities transactions. ISE offers a FIX 4.2 compliant order routing interface over TCP/IP. BANDWIDTH 50 Mbps

CLICK Trade

1-2 MB per connection

FIX

1-2 MB per connection

Montreal Exchange
APPLICATION HSVF HSVF Market Feed DESCRIPTION Futures Only

BANDWIDTH 128 kbps 6 mbps

Unicast

Options & Futures – Best limits

Unicast 20 mbps

HSVF Market Feed

Options & Futures – Market depth (5 best limits)

Unicast

As of 9/10/2007

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NASD
APPLICATION BTDS DESCRIPTION Bond Trade Dissemination Service

BANDWIDTH 56k

Multicast

NASDAQ
APPLICATION NLS DESCRIPTION NASDAQ Last SaleSM (NLS) is a direct data feed product offered by The NASDAQ Stock Market®. NLS will cover the full range of issues including NASDAQ, New York Stock Exchange (NYSE) American Stock Exchange (Amex), and US regional exchange-listed securities. Upon full implementation, NLS will provide real-time intra-day trade data from the NASDAQ/NASD Trade Reporting Facility (TRF) as well as the integrated NASDAQ system. New feed available March 2007
• •

BANDWIDTH

Soup TCP: 5mbps (75% compression option available) Mold UDP: 5mbps

Soup TCP Mold UDP 2.9 mbps

MAX

NASDAQ Market Velocity and Forces is a direct data feed product offered by The NASDAQ Stock Market®. Market Velocity and Forces measure pre-trade order activity in the NASDAQ Stock Market trading system to indicate the intensity and direction of trading interest before that activity results in trades and price movement. The products are akin to the visible activity and audible noise that experienced floor traders use on a physical trading floor to detect changes in market direction, momentum, or liquidity.

MoldUDP

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NASDAQ
Continued

APPLICATION TotalViewAggregated

DESCRIPTION NASDAQ TotalView-AggregatedSM is a direct data feed product offered by The NASDAQ Stock Market®, which features the following data elements: • NASDAQ Price Level Data: For NASDAQ Single Book, NASDAQ aggregates the order and quotation depth at each price point. For each price point, NASDAQ shows the aggregated number of shares available for each market participant ID as well as the total amount for Single Book. TotalView-Aggregated carries price level data for NYSE- and Amex-listed securities as well as for NASDAQ listed securities. Net Order Imbalance Data: In the minutes leading up to the NASDAQ Opening and Closing Crosses, NASDAQ disseminates the indicative clearing price and net order imbalance in the NASDAQ Single Book. Because the calculation includes non-displayable as well as displayable order types, the net order imbalance indicator (NOII) is the best predictor of the NASDAQ opening and closing prices available to the public. SoupTCP. New feed- B feed available from new NASDAQ data center (Cartarete) end of 10/06. Mold UDP

BANDWIDTH
• •

SoupTCP: 28 Mb 75% compression available. MoldUDP: 28 Mb

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NASDAQ
Continued
TotalView ITCH 3.0 NASDAQ TotalView-ITCH is a direct data feed product offered by The NASDAQ Stock Market®, which features the following data elements: • Order level data with attribution: For NASDAQ Single Book, NASDAQ will provide its full order depth using the standard ITCH format. ITCH uses a series of messages of order messages to track the life of a customer order.1 As an added feature, the ITCH 3.0 message formats will support NASDAQ market participant attribution. TotalView-ITCH carries order level data for NYSE- and Amex-listed securities as well as for NASDAQ-listed securities. Trade messages: To ensure that customers have complete information about NASDAQ order flow, TotalView-ITCH 3.0 supports a trade message to reflect a match of a nondisplayable order in the NASDAQ system. TotalView-ITCH 3.0 also supports a separate trade message to reflect NASDAQ cross transactions. Net Order Imbalance Data: In the minutes leading up to the NASDAQ Opening and Closing Crosses, NASDAQ disseminates the indicative clearing price and net order imbalance in NASDAQ Single Book. Because the calculation includes non-displayable as well as displayable order types, the Net Order Imbalance Indicator (NOII) is the best predictor of the NASDAQ opening and closing prices available to the public.
SM

SoupTCP: 22MB (uncompressed). 75% compression option available. MoldUDP: 22MB Bandwidth upgrades as of 12/8/06.

• •

• •

SoupTCP. New feed – B feed available from new NASDAQ data center (Cartarete) end of 10/06. Mold UDP

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NASDAQ
Continued
TotalView ITCH 2.0a (previously known as OpenView+, ITCH 2.0a) TotalView-ITCH 2.0a is a direct data feed product offered by The NASDAQ Stock Market, that features the following data elements: • Order level data with attribution: For NASDAQ Single Book, NASDAQ will provide its full order depth using the standard ITCH format. ITCH uses a series of messages of order messages to track the life of a customer order. As an added feature, the TotalViewITCH 2.0a message formats support NASDAQ market participant attribution. TotalView-ITCH 2.0a carries order level data for NYSE- and Amex-listed securities as well as for NASDAQ-listed securities. • Trade messages: To ensure that customers have complete information about NASDAQ order flow, TotalView-ITCH 2.0a supports a trade message to reflect a match of a non-displayable order in the NASDAQ system. Stock halt status information for the NASDAQ trading system.

SoupTCP: 27Mb (uncompressed) 75% compression option available MoldUDP: 27Mb Bandwidth upgrade as of 12/8/06.

• •


SoupTCP. New feed – B feed available from new NASDAQ data center (Cartarete) end of 10/06.

TotalView- ITCH 2.0

• MoldUDP TotalView-ITCH 2.0 is the direct data feed product offered by The NASDAQ Stock Market. ITCH 2.0 provides real-time information about orders and executions on the NASDAQ system for securities listed on NASDAQ, New York Stock Exchange (NYSE), American Stock Exchange (Amex), and the US regional exchanges. • SoupTCP • MoldUDP

SoupTCP: 25Mb (uncompressed) 75% compression option available. MoldUDP: 25Mb Bandwidth upgrade as of 12/8/06.

• •

TotalView – ITCH 1.0

TotalView – ITCH 1.0 is the direct data feed product offered by The NASDAQ Stock Market. ITCH 1.0 provides real-time information about orders and executions on the NASDAQ system for securities listed on NASDAQ, New York Stock Exchange (NYSE), American Stock Exchange (Amex), and the US regional exchanges.

SoupTCP

16.8 Mb -NASDAQ plans to retire TotalView- ITCH 1.0 (formerly known as INET ITCH 1.0) data feed in the fourth quarter of 2007. TotalView-ITCH 1.0 subscribers are advised to complete their transition to one of the other TotalView data feed options on or before November 30, 2007.

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NASDAQ
Continued
NASDAQ OpenView BasicSM NASDAQ OpenView provides the best view of the NASDAQ market center’s exchange-listed trading program. Similar in design to the NASDAQ TotalView, the NASDAQ OpenView provides traders and investors with the complete depth of NASDAQ market participant data available in New York Stock Exchange (NYSE) and American Stock Exchange (Amex) listed issues. New replacement to OpenView legacy which is being retired. • Multicast NASDAQ Level 2 provides top-of-file market participant quotations from the NASDAQ Market Center and the NASDAQ Inside quote for NASDAQ Global Select market, NASDAQ Global Market, and NASDAQ Capital Market issues.
• • •

4.1Mb

Level 2

12Mb. Upgraded from 9.6 to 12MB effective 9/4//07 • Replaces NQDS

SoupTCP Soup TCP (compressed) MoldUDP 3.34Mb • Retiring as of 8/31/07. All customers need to migrate to Level 2 product. 7.8 Mb

NQDS

NASDAQ Level 2 provides top-of-file market participant quotations from the NASDAQ Market Center and the NASDAQ Inside quote for NASDAQ Global Select Market, NASDAQ Global Market, and NASDAQ Capital Market issues.

Multicast

UTP Quotation Data FeedSM (UQDFSM)

Provides best bid and offer (BBO) quotes from the UTP participants as well as the consolidated national best bid and offer (National BBO) quotes for securities listed on the NASDAQ Stock Market®.

Multicast

UTDFSM

Provides trade data from the UTP participants for securities listed on the NASDAQ Stock Market®.

3 Mb

Multicast

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NASDAQ
Continued
APPLICATION NASDAQ Index Dissemination ServiceSM (NIDSSM) DESCRIPTION To track the movement of its marketplace, NASDAQ® has created a number of broad-based and sector indices. Over the years, NASDAQ index products have proved to be popular with investors and traders. Today, there are a large number of derivative products and mutual funds designed to emulate the NASDAQ-100 Index® and the NASDAQ Composite Index®. In 2003, NASDAQ implemented the NASDAQ Index Dissemination Service (NIDS) data feed product as a central source for NASDAQ Financial Products.
• Multicast Operated by NASDAQ®, the Mutual Fund Quotation ServiceSM (MFQSSM) facilitates the collection and dissemination of price and earnings information for U.S. investment companies. NASDAQ disseminates data from the MFQS system on the Mutual Fund Dissemination ServiceSM (MFDSSM).

BANDWIDTH 112 Kb

Mutual Funds Data ServiceSM (MFDSSM) (NAVs for Mutual Funds)

56 kb

NAVs for Mutual Funds. Multicast The OTC Bulletin Board® (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information in over-the-counter (OTC) equity securities. An OTC equity security generally is any equity that is not listed or traded on NASDAQ or a national securities exchange. OTCBB securities include national, regional, and foreign equity issues, warrants, units, American Depository Receipts (ADRs), and Direct Participation Programs (DPPs). Multicast Introduced in the 4th quarter of 2003, the NASDAQ Trade Data Dissemination ServiceSM (TDDSSM) data feed is designed to carry over-the-counter (OTC trade data from the NASDAQ Automated Confirmation Transaction ServiceSM (ACTSM) for publicly traded equities that are not listed on the NASDAQ, NYSE, or Amex and traded over the counter. The TDDS product replaced the legacy NASDAQ ACT Trade ServiceSM (NATSSM) data feed product.
• • •

Bulletin Board Dissemination ServiceSM (BBDSSM)

128K – Increase fromf 75k to 128k.

Trade Data Dissemination ServiceSM (TDDSSM)

64K

Multicast

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NASDAQ
Continued
APPLICATION NOI View DESCRIPTION In 2004, NASDAQ introduced its Closing and Opening Crosses. In the Crosses, NASDAQ brings investors together to discover an effective opening or closing price based on supply and demand in the marketplace. The NASDAQ close is an innovation for the U.S. markets in that it offers superior transparency leading into the close and the opportunity for everyone to use that insight to meet their trading and investment needs. To make the Opening and Closing Crosses transparent to investors, NASDAQ disseminates detailed information via a Net Order Imbalance Indicator (NOII) message in the minutes leading up to the cross

BANDWIDTH 4.5mb (75% compression available. Retirement extended through August 2007. All customers need to migrate to NOIView 2.00 (or TVITCH 3.0 / TV-Aggregated.)

Multicast or Unicast 200K Retirement extended through August 2007. • All customers need to migrate to NOIS 2.00.

NOIS

SM

2.0

The NASDAQ Net Order Imbalance SnapShot (NOIS) data feed is intended for newswire providers. NOIS provides basic net order imbalance data for those NASDAQ securities with an order imbalance of 50,000 shares or greater leading into the NASDAQ Opening and Closing Cross.

MoldUDP Provides data for over-the-counter brokers that quote securities listed on the NASDAQ Stock Market® via the NASD® Alternative Display Facility (NASD ADF).

OTC Montage Data FeedSM (OMDFSM)

512Kb

Multicast

OUCH

OUCH provides customers with a fast and highly efficient way to connect to NASDAQ. This protocol allows subscribers to quickly enter orders into and receive executions from NASDAQ. OUCH was developed with simplicity in mind – subscribers and their software developers can integrate NASDAQ into their proprietary trading systems or build custom front-ends to NASDAQ.

Usage dependent

OUCH

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NASDAQ
Continued
APPLICATION FIX DESCRIPTION Financial Information eXchange (FIX) is a vendor-neutral standard message protocol that defines an electronic message exchange for communicating securities transactions between two parties. FIX is a standard format used today by a majority of U.S. firms in the equity securities business. NASDAQ supports the FIX protocol version 4.2 as a means to support order flow into the NASDAQ Market Center. BANDWIDTH 256k minimum

QIX

QIX is an efficient protocol that allows automated, realtime trading. QIX offers reliability in placing orders and quotes in the NASDAQ Market Center, while providing improved throughput and reduced latency. (NASDAQ trading and Listed trading) Premiere product for lowest latency.

T1 Minimum

WORKSTATION

Unicast The NASDAQ Workstation allows you to connect to NASDAQ via the Internet or an Extranet. In addition, the NASDAQ Workstation is an intuitive product at an extremely low cost. From rock-bottom transaction costs to inexpensive connectivity options, NASDAQ is continuing to reduce your total cost of trading. Unicast Formerly an INET service. Available 1/07.
• •

235Kb

VTE

56K/Terminal

Unicast

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NASDAQ
Continued
CTCI Computer-to-computer interface (CTCI) is a method by which NASDAQ subscribers can enter transactions, such as NASDAQ Market Center orders and trade reports, from their computer systems to NASDAQ's computer systems without using a NASDAQ Workstation. The CTCI interface is based on the Common Message Switch protocol.

128K

ACES

Unicast ACES routes orders between order-entry firms and market makers that have established relationships, providing the benefits of an advanced order routing tool without the start-up costs of a stand-alone system. ACES streamlines routine order entry by routing orders directly into the market makers’ internal system for execution and routing the execution notification back to the order-entry firms. FIX CTCI Similar to CMS Test (daytime and weekends)
• • •

5K

TEST FACILITY

Usage dependent

Unicast- CTCI, FIX, QIX, RASH

As of 9/10/2007

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Philadelphia Stock Exchange (PHLX)
PACE The order execution system for equities. 64 kbs. They are looking at 1mb per application. 64 kbs. They are looking at 1mb per application.

AUTOM

The order execution system for options.

The technical contact is Joe Mitchell at 215-496-5030

Toronto Stock Exchange (TSX)
Toronto (TL1) Level 1 Toronto Level 1 (TL1) is a real-time service for listed senior equities that provides trades, quotes, corporate actions and index information from Toronto Stock Exchange. TL1 is also available as a delayed service. • Multicast TSX Venture Level 1 (CL1) is a real-time service for listed junior equities that provides trades, quotes, corporate actions and index information from TSX Venture Exchange. The CL1 also includes trades and quotes for NEX. (The NEX Board is available for issuers that have fallen below TSX Venture's ongoing listing standards. NEX provides a unique trading forum for companies without an active business while they seek opportunities to refinance, reactivate or reinvent themselves.) CL1 is available as a delayed service • Multicast • Unicast for retransmission request and UDP retransmission delivery. 2MB

TSX Venture Level 1 (CL1)

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Toronto Stock Exchange (TSX)
Continued
Toronto Level 2 (TL2) Toronto Level 2 (TL2) is a real-time service for senior equities that shows all committed orders and trades for each Toronto Stock Exchange listed security in real-time. From TL2, distributors can obtain Market-by-Price and Market Book displays to distribute to end-users.

8 Mb

Multicast

TSX Venture Level 2 (CL2)

TSX Venture Exchange Level 2 (CL2) is a real-time service for junior equities that shows all committed orders and trades for each TSX Venture Exchange listed security in real-time. From CL2, distributors can obtain MarketDepth by Price, and MarketDepth by Order displays to distribute to end-users.
• •

Multicast

Index Service Level 1 (XL1)

Unicast for retransmission request and UDP retransmission delivery. XL1 is a service that provides index, index constituent, and Global Index Classification Standard (GICS) data. The feed contains index and constituent data for the discontinued TSX indices - the Toronto 35 Index, the TSX 100, the TSX 200 and the 14 TSX Groups and 38 TSX Subgroups - and also provides constituent data for the S&P/TSX Indices.
• •

64 Kb/s

Multicast Unicast for retransmission request and UDP retransmission delivery.

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Toronto Stock Exchange (TSX)
Continued
Foreign Exchange 2 (FX2) Market participants need accurate content to assist in the investment decision process. TSX FX delivers active accurate currency rates on over 30 pairs including Canadian Dollar, Euro, Japanese Yen and Australian Dollar updated on a 24 hour basis Sunday to Friday. Included in the TSX FX service: Bid and Ask prices, currency code identification, time stamps and key global rates. Multicast Unicast for retransmission request and UDP retransmission delivery. Access CanDeal real-time market data, a feed of the best bond prices taken directly from the trading desks at Canada's six largest domestic investment dealers, from TSX Datalinx or your market data vendor.
• •

50 Kb/s

CanDeal (CDL)

150 Kb/s

CNX Marketlinx (CNX) Retransmissions

Multicast Unicast for retransmission request and UDP retransmission delivery. TSX Group Inc. (TSX) and CNW Group Ltd. (CNW), two of Canada's leaders in the areas of technology, financial news and market data distribution have collaborated to create CNX Marketlink. CNX Marketlink is a comprehensive suite of enhanced investor communication tools, combining the existing offering of CNW's trusted products and services with innovative TSX technology to deliver best-of-class communication solutions for publicly listed companies.
• • •

5 Kb/s (CNX), 128 Kb/s (Retransmissions)

NE 1 TSX/CP NE2 TSX/AP NEN NF1

Multicast Unicast for retransmission request and UDP retransmission delivery. CP News stories – English language • Multicast

100kb/s 100kb/s 100kb/s 100kb/s

AP News stories – English language • Multicast AP AND cp News stories – English language • Multicast CP News stories – French language • Multicast

* Technology Access Fee = $50/Meg, monthly recurring. B2B discount rules apply.

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Please Note : The information contained in this document is subject to change. For questions regarding SFTI B2B bandwidth requirements contact the Help Desk 1-866-873-7422.

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