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Dear DBC President:
Your plan to drop BidSize and AskSize is totally unacceptable. Like many
other traders, I use the BidSize and AskSize information. This is very
valuable information and not broadcasting it will seriously compromise your
service. Futhermore, it will dimiish your competive edge with other data
vendors. While BMI service currently costs more than other data feeds, it's
worth it because you broadcast the BidSize and AskSize information.
However, I can't justify spending more for less.
When you stop broadcasting this information, I and many other long term BMI
customers will onsider switching our BMI service to another data feed
vendor.
>>From the BMI web site.
>
>-------
>
>Attention BMI Options Clients:
>
>In order to significantly improve the performance of the BMI Network, we
>are converting our Index and Equity Options data from a Third Party
>Supplier to direct exchange feeds. With this change, we're excited to
>deliver you an even better Options Service and regain the necessary
>controls to provide our clients the most accurate and dependable data
>available.
>
>This change takes place effective Monday, November 2, 1998.
>
>Due to the differences in the old and new Options feed, although we will be
>delivering more timely and accurate data, we will need to make the
>following data-related changes:
>
>Bid Sizes and Ask Sizes will no longer be broadcast. The current Bid and
>Ask prices however will remain intact. The Exchange indicator of the Bid
>and the Ask will also be removed. The Exchange indicator that normally
>appears before the Bid and Ask Price (i.e. NY, OTC, etc.) will be removed.
>These are specific markets where the Bid and Ask prices are coming from.
>
>Zero Volume Options will not be updated until the first trade occurs ( i.e.
>we will not send bid/ask updates if the Option had zero volume yesterday
>and had not traded yet today ). If the Option has not traded and the option
>had a Zero Volume from the previous day, the Bid and Ask price will remain
>unchanged until a trade occurs. Options that trade less than 100 contracts
>on consecutive days will only display the bid, ask, and last sale. If the
>Option trades over 100 contracts during the day, we will then update the
>record to include the high, low and total volume figures. Bid, Ask and Last
>prices will be the only Field on display for consecutive days, until the
>Option trades over 100 contracts. High, Low and Total Volume will then be
>updated when the Option trades over 100 contracts.
>
>We appreciate your patience while we make this transition. We're determined
>to stay as the leading provider of RealTime quotes and these changes will
>make for even greater Network reliability. Thanks for using BMI!
>
>Last updated 10/14/98
>
>
>
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