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Yuki, interesting points. I don't know what OpenTick's strategy is,
but you can get real time intraday data for NYSE and NASDAQ stocks
from them for $2 (two dollars!) per month. The bad news is their IB
plug-in is very buggy and slow. The point is every time a company
like eSignal increases their price (for service that is not all that
reliable in my experience), they make it that much more attractive for
competitors to jump in.
Chuck
--- In amibroker@xxxxxxxxxxxxxxx, Yuki Taga <yukitaga@xxx> wrote:
> Interesting business. I suspect at these price levels we may see an
> increase in competition in the near future, which should put a lid on
> arbitrary pricing. Right now, it seems that there is simply not
> enough competition. Eventually, cost of data should resemble
> commission fees, which are in most cases pretty cheap. At least a
> broker who allows you to trade on margin is accepting some credit
> risk. These data vendors simply allow multiple computers to plug
> into a data stream that isn't even theirs in the first place, and
> then they sell it redundantly and rather dearly.
>
> Someday, I suspect the exchanges will get wise (after enough of them
> go public). There is no reason for any data middlemen, let alone
> layers of them (I think eSignal itself has a data provider, but I'm
> not sure). In any case, middlemen stock-data vendor days must surely
> be numbered. Right now it may be an easier revenue source for the
> exchanges to just sell a limited number of rights to middlemen. But
> anything that has a tendency to limit trading, and limited access to
> information certainly falls in that category, limits exchange
> revenue. Someday, they may figure this out.
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