ACTIV Financial Delivers Top of PHLX Options Plus Orders

ACTIV Financial has become the first external data provider to distribute Top of PHLX Options Plus Orders (TOPO Plus Orders), the premier data feed for Nasdaq OMSX PHLX.

ACTIV customers can now tap into the most comprehensive view of the market to react to dynamic market conditions on one of the largest U.S. options exchanges, stated the release. PHLX trades more than 2,600 equity options, sector index options and U.S. dollar-settled options and captured 25.2 percent of all U.S. equity options trading in August.

“TOPO Plus Orders gives our customers a leg up on competitors by providing them a more complete view of the market,” said Frank Piasecki, co-founder and president of ACTIV Financial. “With access to both quote and order information, customers gain additional market perspective and the ability to react to changing market conditions. We’re proud to be the first provider to distribute TOPO Plus Orders and give our customers easy and real-time access to the premier direct data feed from one of the largest U.S. options exchanges. Essentially, ACTIV is providing clients with the actionable data and the speed necessary to gain that ultimate edge in the marketplace.”

TOPO Plus Orders gives clients access to important order details, including option type, order side, order type, customer/firm indicator, open/close indicator, original order volume and executable order volume. Firms also gain a clear view of the entire PHLX market through direct, real-time access to both order and quote data including Best Bid and Offer (BBO) and Last Sale information and the full depth of single and complex orders.

TOPO Plus Orders give firms the ability to create real-time display options with a manageable set of data without having to consume an extra-large data set. Clients can also access proprietary PHLX order information, as well as imbalance and auction data.

“TOPO Plus Orders is a great way to access orders in one of the largest options exchanges in the U.S. With such a complete view of the market, TOPO Plus Orders allows users to gain additional market perspective and react to changing market conditions,” remarked Randall Hopkins, SVP , NASDAQ OMX, in the release. “By adding TOPO Plus Orders to its offerings, ACTIV Financial is facilitating clients’ opportunity to trade profitably.”

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio