PRODUCT DESCRIPTION

Daily TAQ

FAST FACTS
What is it? Daily TAQ is a historical data product, delivered nightly, that offers complete trade and quote data of all activity within the U.S. National Market System. All timestamps are provided at millisecond granularity. Who is it for? Daily TAQ is ideal for traders, broker/dealers and researchers seeking a complete daily record of activity across the entire U.S. equities market. What does it provide? Daily TAQ provides complete level 1 trade and quote data for Tapes A, B, and C.

The NYSE Technologies Daily Trades and Quotes (TAQ) product is designed to provide clients with consolidated trade and quote data across the entire National Market System (NMS) and as printed to Tapes A, B, and C. This comprehensive dataset allows clients to gain visibility into the U.S. equities market by providing complete quote and trade reports, as well as a report of the consolidated NBBO.
Customer Challenges
Today’s brokers, traders and researchers require a detailed and granular view into the market in order to validate best execution, develop profitable trading strategies and perform in-depth research regarding the aggregate marketplace.
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Solution Benefits
Provides complete visibility into trade and quote activity for all U.S. equities across the entire NMS for any given day.
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Verifying Best Execution The SEC mandates that brokers and dealers execute trades at the best possible price for their clients. It is essential that brokers and dealers are able to verify that their submitted orders were, in fact, executed at the best price at any given time within the market. Developing Profitable Trading Strategies Traders require a detailed and granular view into market activity across the entire NMS in order to develop profitable trading strategies. They must also be able to backtest these strategies to confirm their viability. Market Research Given the fast pace of today’s U.S. equities market and ever-increasing trading volumes, it is essential that researchers have access to a detailed and comprehensive history of market activity. This comprehensive and granular history is necessary in order to develop theses and draw solid conclusions.

Comprehensive Trade and Quote Reports Daily TAQ provides clients with comprehensive trade and quote reports for all NMS participants. Additionally, Daily TAQ provides a report of the consolidated NBBO for all U.S. equities across the NMS. Market Analytics and Comprehensive History Enables clients to perform complex market analytics by providing a comprehensive dataset of all trades and quotes reported to, and consolidated by, both NMS securities industry processors (SIPs). This dataset also allows clients to easily backtest trading strategies and verify their profitability and viability within the U.S. equities market. Granular Data Provides researchers and academics the most detailed history of all U.S. market history available. All trades and quotes are time stamped at millisecond granularity, allowing for an incredibly detailed view into the U.S. market.

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www.nyx.com
©2011 NYSE Euronext All Rights Reserved

PRODUCT DESCRIPTION

Daily TAQ

Daily TAQ Datasets
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About NYSE Technologies
NYSE Technologies provides comprehensive transaction, data and infrastructure services and managed solutions for buy-side, sell-side and exchange communities that require next-generation performance and expertise for mission critical and valueadded client services.

Complete NMS Trade Reports Daily report of all trades across the NMS Complete NMS Quote Reports Daily report of all quotes across the NMS Consolidated NBBO Reports Daily report of the consolidated NBBO for all U.S. equities

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NMS Participants
New York Stock Exchange NYSE Arca NYSE Amex CBOE Stock Exchange NASDAQ OMX BX Direct Edge A International Securities Exchange NASDAQ OMX PSX National Stock Exchange Direct Edge X NASDAQ OMX BATS Y-Exchange Inc. FINRA Chicago Stock Exchange Consolidated Tape System BATS Exchange Inc.

Find Out More
About Wharton Data Research Services (WRDS) Wharton Research Data Services (WRDS) is the leading, comprehensive, Internetbased data research service used by academic, government, non-profit institutions, and corporate firms. WRDS manages the data and delivers it in a seamless, unified, and consistent form. WRDS provides the user with one location to access over 200 terabytes of data across multiple disciplines including Finance, Marketing, and Economics.

Key Features of Daily TAQ
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Complete NMS trade and quote reports Consolidated NBBO report Timestamped at millisecond granularity* Data available from 1993 to present

Find out more
Call: 877 438 9737 Email: wrds@wharton.upenn.edu or Visit: http://wrds-web.wharton.upenn.edu/wrds/about/

*NMS SIPs began timestamping with millisecond granularity in 2003

Copyright 2011 NYSE Technologies Inc. All rights reserved. All third party trademarks are owned by their respective owners and are used with permission. This announcement may contain forward-looking statements regarding NYSE Euronext and its affiliates. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements

dc/N11599/111006