Hi @nithin, @lindo - does a broker get free data access to NSE market real time data ? Is it all data or some specific data ? Is it historical data as well ?
Looking at the data costs, I feel its better to apply for a NSE Alphamembership than pay the data vendors for data. Any thoughts on the same ?
If you are looking at the data costs at this link on NSE, it is the cost fora data vendor and not an end user of data.
As an end user, if you want data on amibroker, Ninjatrader etc, you can use one of the data vendors who charge between 2k to 5k per month. If you want data on a custom platform and for your own use, you can use Kite APIs.
Yes members do get data for free from the exchange, but the cost of setting up your data center, connecting to the exchanges via leased lines, building a product that can read exchange raw data feeds, etc is not worth the effort/cost if you are trying to use it for yourself.
Also maybe check this
@nithin: Thanks - just a few more clarifications - hope you will bear with me.
Is it mandatory to setup data centers or use leased lines ? Can a member access data feeds via internet if they so choose to ? Are you aware of simple prop shops that access NSE data over internet ? I think data centers are a passe given everyone uses virtual servers these days. What would be the harm to process data via a hosted server ?
Also can you please clarify if all data is free to a member ? I remember that tick level data was made free recently. Do you also get full-book (above 5 depth) data as well ? Is there any possibility that as a retail trader I might be able to access order depth beyond L2 (meaning top 5) ?
I am trying to figure out for myself what is the business model for data vendors if someone can get a NSE Membership and then NSE data for free ?
As an alpha member you can either take the NOW trading platform or you will have to connect to the exchange via a leased line. Not possible on internet.
I mean, you can definitely connect the leased line from your exchange directly to your computer. The tougher bit is to build adapters which can take the exchange raw data feed and convert it into something you can use.
As a member of the exchange, you can give data only to your trading clients only on exchange approved platforms. So for example, we will not be able to provide you data on a 3rd party app like Amibroker. That is the business model of data vendors, to provide data on platforms like amibroker etc. But as charting on trading platform has improved, yeah the data vending business if only to power other charting platforms is maybe not as attractive as it was few years back.
Thanks @nithin:
You didnt comment on my questions :
Also can you please clarify if all data is free to a member ? I remember that tick level data was made free recently. Do you also get full-book (above 5 depth) data as well ? Is there any possibility that as a retail trader I might be able to access order depth beyond L2 (meaning top 5) ?"
Can you kindly share your knowledge about this as well ?
Brokers get only L2. But it is possible to build a book of 20 market depths using the tick by tick data that brokers can access through NSE colocation. But that requires a solution which can read the TBT and make a market depth of 20.
Most data vendors today just offer L1.
On our list to offer more than 5 depth to our clients.