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 DESCRIPTION BANDWIDTH
AF_NA Equities & Futures – This “North American” stream 10 Mbps
contains equities, futures, fundamental, forex and
administration data. All ActivFeed subscribers must
receive this component.
• Multicast
AF_OPRA_NBBO Options NBBO – This optional stream contains the 17 Mbps
NBBO (National Best Bid and Offer) data from OPRA
(aka Top of Book).
• Multicast
AF_OPRA_FULL Options Full- This optional stream contains the full 38 Mbps
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
AF_NEWS This optional stream contains news. .25 Mbps
• Multicast

ADP Wilco
APPLICATION DESCRIPTION BANDWIDTH
SWIFT Service Bureau ADP Wilco’s SWIFT Service Bureau provides fast-track Varies depending on usage
access to the SWIFT network for the full range of (protocol and application)
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

As of 9/10/2007

Page 2
 The Bank of New York (BONY)
APPLICATION BANDWIDTH

GSCX 56K

GSCX Test 56K

RepoEdge 56K

RepoEdge Test 56K

RDARS 56K

FTP 56K

NDM 56K

MQ 56K

RDARS Business Recovery 56K

Class 56K

As of 9/10/2007

Page 3
 BATS

APPLICATION DESCRIPTION BANDWIDTH

BATS subscribers use a subset of the FIX 4.2 protocol 1.5mb (depending on
Order Entry for order entry and drop copies. activity)
• FIX - Unicast
BATS uses a variation of the DROP protocol to provide 256kb – 1.5mb (depending
Trade Information real-time information about executions. on activity)
• DROP - Unicast
BATS subscribers may use the PITCH protocol to • PITCH: 10 mb – 15mb
receive real-time full depth of book quotations and (higher bandwidth
execution information directly from BATS. BATS also provisioning
reflects its top of book quote, and may also reflect its recommended to avoid
Order Book depth of book quotes, via the SRO (self regulatory delays and gapping.)
organization) upon which it is quoting. That SRO in turn • FAST PITCH: 3-5mb
reflects its quotes in the consolidated quote.
• PITCH – Unicast
• FAST Pitch – Unicast

Boston Stock Exchange (BSE)

APPLICATION DESCRIPTION BANDWIDTH

BSE CMS IP For BSE Order Flow 64K - 128K

BSE FIX IP For BSE Order Flow 64K - 128K

NASDAQ
For NASDAQ order flow through BSE to reach
NASDAQ

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

As of 9/10/2007

Page 4
 Boston Options Exchange (BOX)
APPLICATION DESCRIPTION BANDWIDTH
Order Routing FIX is an order management protocol widely used by professional 128 kbs
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.
• FIX - Unicast

MMTP MMTP is the native interface to the BOX trading engine. It is the 24 kbs
“richest” of all the interfaces since it provides full access to all the Per quote/sec
trading engine’s functionality such as the Price Improvement Period, Will be replaced by a new
strategy creation and trading and market maker bulk quoting. It is only protocol “SAIL”.
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
HSVF Market Feed The native interface to the BOX trading engine. It is the “richest” of all 80 mbps
– Five Best Limits interfaces since it provides full access to all the trading engine’s
(all classes) 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 Market Feed HSVF is the proto9col for receiving BOX market data directly from BOX
– Best Limits (all rather than via one of the commercial data vendor suppliers (who are
classes) themselves receiving data from the Options Price Reporting Authority
(OPRA). It is available only to BOX Participants. Generally speaking, it 160 mbps
is the preferred market data source for BOX Market Makers. A number • Represents peak traffic
of functionalities are exclusive to HSVF such as the five best limits for and receiving all
each option instrument (OPRA broadcast only receives the BOX best classes.
limits) or the initiating and improvement order related to a Price
Improvement Period Auction.
• Unicast
• Unicast 6 mbps
• Represents peak traffic
HSVF NBBO
and receiving all
classes.

As of 9/10/2007

Page 5
As of 9/10/2007

Page 6
 CBOE
APPLICATION DESCRIPTION BANDWIDTH
ONE CQ/LS Current Quote and last sale for the OneChicago
Exchange • 1.7 mbps
• Multicast •
• CFN product
ONE BD Book Depth for ONEChicago Exchange • 3.0 Mbps
• Multicast
• CFN product
CFE CQ/LS Current quote and last sale for the Futures • 100 kbps
Exchange
• Multicast
• CFN product
CFE BD Book depth for the Futures Exchange • 150 kbps
• Multicast
• CFN product
MDI A new service for MDX comprised of index • 30Kbps
values such as SPX, OEX, VIX, etc.
• Multicast
CMi (CBOE Market CBOE proprietary API for quoting and order
• The amount of bandwidth required by each is
Interface) entry. CBSX book depth information is available
dependent on several factors and varies
through this interface.
widely.
• Unicast
FIX CBOE supports the FIX protocol for order • The amount of bandwidth required by each
routing. firm is dependent on several factors and varies
• Unicast widely.
Compass CMS interface for order entry • The amount of bandwidth required by each
• Unicast firm is dependent on several factors and varies
widely.
CTM CBOE Trade Match • The amount of bandwidth required by each
• Unicast firm is dependent on several factors and varies
widely.
CBOEDirect CBOE Direct replicates CBOE’s trading floor on • The amount of bandwidth required by each
a screen. CBOEDirect currently supports the firm is dependent on several factors and varies
trading of some of CBOE’s most popular index widely.
products during extended trading hours (7:00am
– 8:15am).
• Unicast

As of 9/10/2007

Page 7
 Chicago Mercantile Exchange (CME)

APPLICATION DESCRIPTION BANDWIDTH

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

As of 9/10/2007

Page 8
 Chicago Stock Exchange (CHX)
APPLICATION DESCRIPTION BANDWIDTH
CHX FIX The CHX FIX protocol allows users to access the MAX trading system • 64kbps – 256kpbs
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 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 • 64kbps – 256kpbs
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

As of 9/10/2007

Page 9
 Currenex
APPLICATION DESCRIPTION BANDWIDTH
Currenex Connection to Currenex OMS application graphical user interface.FIX • Between 128kb
Production OMS • Unicast TCP/IP (200ms updates) and
GUI Connection 512kb (live updates)
per user depending on
data requirements.
• The peak update rate
is configurable by
Currenex
Currenex Java API connection to the Currenex Trading Platform. Two separate • 1 Mb minimum
Production Java logical connections allow receiving rates and placing orders against • Production
API received rates: Environment. Live
• Top of Book Trading.
• Full Book Aggregated
• Full Book non-Aggregated
• UnicastTCP/IP
Currenex Supports posting of completed trade details in real time to client • 256kb
Production Real- • XML/HTTPS • Production
Time STP Environment. Live
Trading.
Currenex FIX protocol connection to the Currenex Trading Platform for placing, • 256kb Mb per logical
Production FIX modifying or canceling orders connection
Orders Gateway • FIX • Production
Environment. Live
Trading.
Currenex FIX Market data protocol connection to the Currenex Trading Platform. • 1 Mb per logical
Production FIX Rate subscription can be one of: connection minimum
Market Data • Top of Book • Production
• Full Book Aggregated Environment. Live
• Full Book non-Aggregated Trading.
• FIX

Currenex Supports straight through processing real-time post trade delivery via • 256kb
Production STP FIX FIX protocol of trades completed on the Currenex platform. • Production
Real-time • FIX Environment. Live
Trading.
Currenex Supports delivery via the FIX protocol of the price of the last trade done • 256kb
Production FIX in each currency or precious metals instruments on the Currenex • Production
Ticker platform. Environment. Live
• FIX Trading.

As of 9/10/2007

Page 10
 Currenex
Continued
Currenex Connection to Currenex OMS application graphical user interface. • Between 128kb
Integration OMS • Unicast TCP/IP (200ms updates) and
GUI Connection 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.
Currenex • 1 Mb minimum
Integration Java API Java API connection to the Currenex Trading Platform. Two separate • Same as production
logical connections allow receiving rates and placing orders against connection but for
received rates: integration testing.
• Top of Book
• Full Book Aggregated
• Full Book non-Aggregated
• Unicast
• TCP/IP
Currenex Supports posting of completed trade details in real time to client • 256kb
Integration Real- • XML/HTTPS • Same as production
Time STP connection but for
integration testing.
Currenex FIX protocol connection to the Currenex Trading Platform for placing, • 256kb Mb per logical
Integration FIX modifying or canceling orders connection
Orders Gateway • FIX • Same as production
connection but for
integration testing.
Currenex FIX Market data protocol connection to the Currenex Trading Platform. • 1 Mb per logical
Integration FIX Rate subscription can be one of: connection minimum
Market Data • Top of Book • Same as production
• Full Book Aggregated connection but for
• Full Book non-Aggregated integration testing.
• FIX
Currenex Supports straight through processing real-time post trade delivery via • 256kb
Integration STP FIX FIX protocol of trades completed on the Currenex platform. • Same as production
Real-time • FIX connection but for
integration testing.
Currenex Supports delivery via the FIX protocol of the price of the last trade done • 256kb
Integration FIX in each currency or precious metals instruments on the Currenex • Same as production
Ticker platform. connection but for
• FIX integration testing.

As of 9/10/2007

Page 11
 EURONEXT-LIFFE

APPLICATION DESCRIPTION BANDWIDTH

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

As of 9/10/2007

Page 12
 ISE

APPLICATION DESCRIPTION BANDWIDTH

Depth of Market The ISE Depth of Market feed provides real-time order book 50 Mbps
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.
CLICK Trade OMX and ISE collaborated to develop CLICK Trade™, a 1-2 MB per connection
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.
FIX The ISE Order Routing System (IORS) is designed to provide 1-2 MB per connection
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.

Montreal Exchange

APPLICATION DESCRIPTION BANDWIDTH

HSVF Futures Only 128 kbps
• Unicast
HSVF Market Feed Options & Futures – Best limits 6 mbps

• Unicast
HSVF Market Feed Options & Futures – Market depth (5 best limits) 20 mbps

• Unicast

As of 9/10/2007

Page 13
 NASD

APPLICATION DESCRIPTION BANDWIDTH

BTDS Bond Trade Dissemination Service 56k

• Multicast

NASDAQ

APPLICATION DESCRIPTION BANDWIDTH

NLS NASDAQ Last SaleSM (NLS) is a direct data feed product • Soup TCP: 5mbps (75%
offered by The NASDAQ Stock Market®. NLS will cover the compression option
full range of issues including NASDAQ, New York Stock available)
Exchange (NYSE) American Stock Exchange (Amex), and US • Mold UDP: 5mbps
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
• Soup TCP
• Mold UDP
MAX NASDAQ Market Velocity and Forces is a direct data feed 2.9 mbps
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

As of 9/10/2007

Page 14
 NASDAQ
Continued

APPLICATION DESCRIPTION BANDWIDTH

TotalView- NASDAQ TotalView-AggregatedSM is a direct data feed • SoupTCP: 28 Mb 75%
Aggregated product offered by The NASDAQ Stock Market®, which compression available.
features the following data elements: • MoldUDP: 28 Mb

• 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

As of 9/10/2007

Page 15
 NASDAQ
Continued
SM
TotalView ITCH 3.0 NASDAQ TotalView-ITCH is a direct data feed product • SoupTCP: 22MB
offered by The NASDAQ Stock Market®, which features the (uncompressed). 75%
following data elements: compression option
available.
• Order level data with attribution: For NASDAQ Single • MoldUDP: 22MB
Book, NASDAQ will provide its full order depth using
the standard ITCH format. ITCH uses a series of • Bandwidth upgrades as
messages of order messages to track the life of a of 12/8/06.
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.
• SoupTCP. New feed – B feed available from new NASDAQ
data center (Cartarete) end of 10/06.
• Mold UDP

As of 9/10/2007

Page 16
 NASDAQ
Continued
TotalView ITCH 2.0a TotalView-ITCH 2.0a is a direct data feed product offered by • SoupTCP: 27Mb
(previously known The NASDAQ Stock Market, that features the following data (uncompressed) 75%
as OpenView+, elements: compression option
ITCH 2.0a) • Order level data with attribution: For NASDAQ Single available
Book, NASDAQ will provide its full order depth using • MoldUDP: 27Mb
the standard ITCH format. ITCH uses a series of
messages of order messages to track the life of a • Bandwidth upgrade as
customer order. As an added feature, the TotalView- of 12/8/06.
ITCH 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. New feed – B feed available from new NASDAQ data
center (Cartarete) end of 10/06.
• MoldUDP
TotalView- ITCH 2.0 TotalView-ITCH 2.0 is the direct data feed product offered by • SoupTCP: 25Mb
The NASDAQ Stock Market. ITCH 2.0 provides real-time (uncompressed) 75%
information about orders and executions on the NASDAQ compression option
system for securities listed on NASDAQ, New York Stock available.
Exchange (NYSE), American Stock Exchange (Amex), and • MoldUDP: 25Mb
the US regional exchanges.
• SoupTCP • Bandwidth upgrade as
• MoldUDP of 12/8/06.

TotalView – ITCH TotalView – ITCH 1.0 is the direct data feed product offered by The 16.8 Mb
1.0 NASDAQ Stock Market. ITCH 1.0 provides real-time information -NASDAQ plans to retire
about orders and executions on the NASDAQ system for securities TotalView- ITCH 1.0
listed on NASDAQ, New York Stock Exchange (NYSE), American (formerly known as INET
Stock Exchange (Amex), and the US regional exchanges. ITCH 1.0) data feed in the
fourth quarter of 2007.
• SoupTCP
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.

As of 9/10/2007

Page 17
 NASDAQ
Continued
NASDAQ OpenView NASDAQ OpenView provides the best view of the NASDAQ 4.1Mb
BasicSM 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
Level 2 NASDAQ Level 2 provides top-of-file market participant 12Mb. Upgraded from 9.6 to
quotations from the NASDAQ Market Center and the NASDAQ 12MB effective 9/4//07
Inside quote for NASDAQ Global Select market, NASDAQ • Replaces NQDS
Global Market, and NASDAQ Capital Market issues.
• SoupTCP
• Soup TCP (compressed)
• MoldUDP
NQDS NASDAQ Level 2 provides top-of-file market participant 3.34Mb
quotations from the NASDAQ Market Center and the NASDAQ • Retiring as of 8/31/07.
Inside quote for NASDAQ Global Select Market, NASDAQ All customers need to
Global Market, and NASDAQ Capital Market issues. migrate to Level 2
product.
• Multicast
UTP Quotation Provides best bid and offer (BBO) quotes from the UTP 7.8 Mb
Data FeedSM participants as well as the consolidated national best bid and
(UQDFSM) 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 3 Mb
the NASDAQ Stock Market®.
• Multicast

As of 9/10/2007

Page 18
 NASDAQ
Continued
APPLICATION DESCRIPTION BANDWIDTH
NASDAQ Index To track the movement of its marketplace, NASDAQ® has created a 112 Kb
Dissemination number of broad-based and sector indices. Over the years, NASDAQ
ServiceSM index products have proved to be popular with investors and traders.
(NIDSSM) 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
Mutual Funds Data Operated by NASDAQ®, the Mutual Fund Quotation ServiceSM 56 kb
ServiceSM (MFQSSM) facilitates the collection and dissemination of price and
(MFDSSM) earnings information for U.S. investment companies. NASDAQ
disseminates data from the MFQS system on the Mutual Fund
(NAVs for Mutual Dissemination ServiceSM (MFDSSM).
Funds)
NAVs for Mutual Funds.
• Multicast
Bulletin Board The OTC Bulletin Board® (OTCBB) is a regulated quotation service 128K – Increase fromf 75k
Dissemination that displays real-time quotes, last-sale prices, and volume to 128k.
ServiceSM information in over-the-counter (OTC) equity securities. An OTC
(BBDSSM) 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
Trade Data Introduced in the 4th quarter of 2003, the NASDAQ Trade Data 64K
Dissemination Dissemination ServiceSM (TDDSSM) data feed is designed to carry
ServiceSM over-the-counter (OTC trade data from the NASDAQ Automated
(TDDSSM) 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.
• Multicast

As of 9/10/2007

Page 19
 NASDAQ
Continued
APPLICATION DESCRIPTION BANDWIDTH
NOI View In 2004, NASDAQ introduced its Closing and Opening 4.5mb (75% compression
Crosses. In the Crosses, NASDAQ brings investors together available.
to discover an effective opening or closing price based on Retirement extended
supply and demand in the marketplace. The NASDAQ close through August 2007. All
is an innovation for the U.S. markets in that it offers superior customers need to migrate
transparency leading into the close and the opportunity for to NOIView 2.00 (or TV-
everyone to use that insight to meet their trading and ITCH 3.0 / TV-Aggregated.)
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
• Multicast or Unicast
SM
NOIS 2.0 The NASDAQ Net Order Imbalance SnapShot (NOIS) data 200K
feed is intended for newswire providers. NOIS provides basic • Retirement extended
net order imbalance data for those NASDAQ securities with through August 2007.
an order imbalance of 50,000 shares or greater leading into • All customers need to
the NASDAQ Opening and Closing Cross. migrate to NOIS 2.00.

• MoldUDP

OTC Montage Provides data for over-the-counter brokers that quote 512Kb
Data FeedSM securities listed on the NASDAQ Stock Market® via the
(OMDFSM) NASD® Alternative Display Facility (NASD ADF).
• Multicast

OUCH OUCH provides customers with a fast and highly efficient way • Usage dependent
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.
• OUCH

As of 9/10/2007

Page 20
 NASDAQ
Continued
APPLICATION DESCRIPTION BANDWIDTH
FIX Financial Information eXchange (FIX) is a vendor-neutral 256k minimum
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.

QIX QIX is an efficient protocol that allows automated, real- T1 Minimum

time 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.
• Unicast
WORKSTATION The NASDAQ Workstation allows you to connect to 235Kb
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
VTE Formerly an INET service. Available 1/07. 56K/Terminal
• Unicast

As of 9/10/2007

Page 21
 NASDAQ
Continued
CTCI Computer-to-computer interface (CTCI) is a method by 128K
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.
• Unicast
ACES ACES routes orders between order-entry firms and 5K
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
TEST FACILITY Similar to CMS Test (daytime and weekends) Usage dependent
• Unicast- CTCI, FIX, QIX, RASH

As of 9/10/2007

Page 22
 Philadelphia Stock Exchange (PHLX)
PACE The order execution system for equities. 64 kbs. They are looking at
1mb per application.

AUTOM The order execution system for options. 64 kbs. They are looking at
1mb per application.

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

Toronto Stock Exchange (TSX)

Toronto Level 1 Toronto Level 1 (TL1) is a real-time service for listed senior 2MB
(TL1) 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 TSX Venture Level 1 (CL1) is a real-time service for listed
1 (CL1)
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.

As of 9/10/2007

Page 23
 Toronto Stock Exchange (TSX)
Continued
Toronto Level 2 Toronto Level 2 (TL2) is a real-time service for senior 8 Mb
(TL2)
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.
• Multicast

TSX Venture Level TSX Venture Exchange Level 2 (CL2) is a real-time service
2 (CL2) 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
• Unicast for retransmission request and UDP
retransmission delivery.
Index Service XL1 is a service that provides index, index constituent, and 64 Kb/s
Level 1 (XL1) 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.
• Multicast
• Unicast for retransmission request and UDP
retransmission delivery.

As of 9/10/2007

Page 24
 Toronto Stock Exchange (TSX)
Continued
Foreign Exchange Market participants need accurate content to assist in the 50 Kb/s
2 (FX2) 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.
CanDeal (CDL) Access CanDeal real-time market data, a feed of the best 150 Kb/s
bond prices taken directly from the trading desks at
Canada's six largest domestic investment dealers, from
TSX Datalinx or your market data vendor.
• Multicast
• Unicast for retransmission request and UDP
retransmission delivery.
CNX Marketlinx TSX Group Inc. (TSX) and CNW Group Ltd. (CNW), two of 5 Kb/s (CNX), 128 Kb/s
(CNX) Canada's leaders in the areas of technology, financial news (Retransmissions)
Retransmissions 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.
• Multicast
• Unicast for retransmission request and UDP
retransmission delivery.
NE 1 TSX/CP CP News stories – English language 100kb/s
• Multicast
NE2 TSX/AP AP News stories – English language 100kb/s
• Multicast
NEN AP AND cp News stories – English language 100kb/s
• Multicast
NF1 CP News stories – French language 100kb/s
• Multicast
* Technology Access Fee = $50/Meg, monthly recurring. B2B discount rules apply.

As of 9/10/2007

Page 25
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.

As of 9/10/2007

Page 26