This week NASDAQ was the first major exchange to launch an on-demand service offering Level 1 historical stock tick data.Â As the first truly on-demand service for historical stock tick data, NASDAQ Data-On-Demand is leading a revolution that's democratizing access to market data and reducing costs by orders of magnitude.
NASDAQ Data-On-Demand has made it easy and affordable to get access to historical stock tick data for everyone from individuals to large institutions. Â Individuals can analyze historical stock tick data in Excel, while large institutions can develop large-scale applications like algorithmic trading applications, using NASDAQ Data-On-Demand's historical stock tick data for back-testing their algorithms.
Individual investors, professional traders, analysts and other individual users can get started for as little as $10 per month and gain instant access to start pulling historical stock tick data into Excel directly from the NASDAQ Data-On-Demand website.Â Individuals get the same sophisticated analytics and detailed Level 1 historical stock tick data previously available only to large institutions.Â And most importantly, traders can cherry-pick specific data with pinpoint accuracy, eliminating the need for custom-developed systems to manage and process the data for them.Â Since pricing is usage based, individuals can use highly targeted queries to pay only for the data they need, making historical stock tick data affordable even for individual investors.
Application developers can power their applications with historical stock tick data accessed in real time through web service APIs.Â Gone are the days of loading terabytes of historical stock tick data into a giant database, hiring a DBA to optimize the database and building a data access layer to run queries that retrieve the data your applications need.Â Now your applications can call an API directly from NASDAQ Data-On-Demand web services, pass parameters defining a specific subset of historical stock tick data, and get back only the tick data your application needs right at that moment.Â No need for databases, servers or DBAs.Â (Sorry, DBAs.)Â And with no need for technology overhead, the costs and timelines for pulling data into applications plummet.
With NASDAQ taking up the on-demand banner and leading the charge with historical stock tick data, it will be interesting to see how this new development affects the on-going movement toward an on-demand market data cloud.