NASDAQ TotalView Explained

NASDAQ TotalView – which displays the full order depth for NASDAQ market participants – is recognized as the standard NASDAQ feed for serious traders. In this Q&A session, Infront Head of Business Development, Joachim Rosli, provides his take on how investors can benefit from the access to the liquidity that this market data feed offers.

Which NASDAQ TotalView feeds does Infront provide to its customers?

Nordic Equity TotalView displays the full order book for companies listed on NASDAQ OMX exchanges in Stockholm, Copenhagen, Helsinki, Oslo and Iceland. Unlike other vendors, Infront sources the data from the INET trading platform directly and not the information vendor feed. By doing this, we are able to provide better speed and quality on the data from the exchange.

Running a NASDAQ OMX TotalView Direct feed is more costly for Infront, but in return it provides a much better experience and more reliable data to our users.

What distinguishes TotalView from other types of market data feeds?

Instead of showing only viewing a few levels– which can be very misleading due to small tick sizes – TotalView provides access to the full depth of all orders in the market

What type of users typically benefit most from TotalView?

More active users including sell side firms, institutional customers and active day traders will benefit the most from this data feed.

To what degree can Infront customers benefit from having access to TotalView?

Apart from being able to view thier own orders in the queue, Infront customers benefit directly by viewing each level – either expanded or aggregated, which gives them the same depth of information as is shown in internal broker systems.

How does Infront add value to TotalView data?

Infront data will be up-and-running as long as the trading system is open: In comparison to other vendors who take the data from the exchange information feed, Infront sources the data directly. We add a ton of business logic on top, such as viewing Broker IDs in the orderbook, providing the best dislay in the auctions (opening and closing session) and showing a full break-down of trades.

The Infront terminal displays the data in multiple views, and has recently been enhanced with a “Market by Order” display, which provides unlimited depth details showing the size and price of all orders.

How can customers trial or subscribe to NASDAQ TotalView?

They can contact Infront Customer Support or go to My Profile in the Infront terminal to add it as trial or a subscription. Infront offers a 14 days trial on TotalView to all customers.