What exactly is misleading? All you have to do is put a couple of feeds up side by side, link them to a spread sheet if you have that feature, compare the quote speed by picking some common feature, i.e. total volume, log the results and pick the winner. It is not IB. And yes, Hyperfeed is expensive, but it works ... Aren't you the guy out of Canada that wanted cheaper commisions than IB?
misleading?? you said the quotes "suck" Out of all the data providers I have used, only one even compares to IB's data. Problems with other quote vendors: 1) Many don't provide you with composite quotes in the options market 2) Many who do, don't provide correct size quotations (if there is more than one exchange on the bid/ask) 3) many don't provide individual ECN quotes 4) none provide Instinet quotes for listed stocks 5) many don't provide real time data for options with zero open interest 6) many miss ticks and can have a posted incorrect quote for hours etc, etc, etc This thread is under, "Retail" and as such, not many would be willing to spend $8,000/month on Hyperfeed for quotes that are marginally faster. IB quotes, for the retail investor, are outstanding!!! BTW, always looking for cheaper commissions but I'm very happy with IB's current $1 per contract.
The question the guy asked was about NAS equities, what does that have to do with 1,2,4 or 5? All data providers have problems, IB gets backlogged, i.e. delayed in a fast market. You brought up Hyperfeed , not me; and it is a lot more than marginally faster.
Wheter equities or options - IB's data is still outstanding, (it certainly doesn't suck!!) 1. How many retail data providers provide Nasdaq quotes on the Xetra or other foreign exchanges? 2. How many retail data providers provide accurate after hours quotes on Nasdaq stocks? a lot more than marginally faster?? (what is your definition for marginal?) an IB client can simply test the speed of the quotes by entering a limit order at the PSE that improves the market and see how long it takes to see your order in the marketplace. Perhaps Hyperfeed is so quick that it can provide this updated quote even before you enter your limit order!! yes, IB has minor problems in "fast markets" and this is being addressed. But for the retail investor, the quotes DON'T SUCK!
If the quote is delayed and there is a better source for the information; the delayed quote sucks ... You cannot trade off of old quotes.
are you saying that everyone should then get Hyperfeed? Because anything less, and there will always be a better source at some point. I guess all quote vendors "suck" unless of course you pay $8000 a month for Hyperfeed.
Try PCQuote, Real Tick, Redi, Esignal; consoldate the quote and pick the fastest. We do that for back-up quotes. They all have their problems and latency in different conditions. The point is IB is not the top of the list.
I've used three of these providers and cancelled two of them. These providers don't even offer some of the basics I mentioned earlier. The fact is, without IB data, I would have a hard time finding a replacement for my trading needs. e.g How many data providers will have SSF quotes from each Exchange when the products begin to trade? (and how many brokers will be ready to clear SSF's??) If you think they "suck", well that is your opinion and I'm not going to change that. I just thought I would add my two cents.....