What is the difference between raw market data and normalized market data?

Raw market data is the unprocessed feed directly from exchanges in native protocol format. Normalized market data is processed through a feed handler (like InRush Ticker Plant) that reconstructs order books and provides a consistent API across venues. Raw data offers lowest latency; normalized data simplifies application integration.

Can I access raw market data from remote locations?

Yes. You can access exchanges locally (co-located) for lowest latency, or remotely via PicoNet™ for cost-effective global access. Remote access adds minimal latency due to PicoNet™'s optimized routes.

How does Pico handle exchange protocol changes?

Pico's venue experts monitor protocol updates, coordinate with exchanges, and handle implementation, eliminating this burden from your operations team. You benefit from Pico's priority service status with exchanges.

What's included with shared connectivity?

Shared connectivity includes the exchange connection, management, monitoring, and support from Pico's NOC. Multiple clients share high-capacity uplinks, reducing costs while maintaining performance.

Can I combine dedicated and shared connectivity?

Yes. Many clients use dedicated ports for latency-critical venues and shared ports for others, optimizing cost vs. performance trade-offs.

How quickly can I get access to a new venue?

Timeline depends on exchange policies and onboarding requirements, typically ranging from days to weeks. Pico's established relationships often accelerate this process vs. going direct.

Raw Market Data

Direct access to real-time market data from global exchanges via PicoNet™, eliminating individual venue connectivity overhead.

Request access View supported venues

900+ exchange and venue products across equities, options, futures, FX, and fixed income

Lowest latency exchange connectivity with dedicated or shared port options

Multicast and unicast data delivery

Managed by Pico's global team of venue experts

What is raw market data?

Raw market data is unprocessed, direct exchange feed data containing real-time prices, volumes, order book updates, and trades as published by exchanges. Pico provides access to raw market data from 900+ exchange and venue products via dedicated or shared connectivity on PicoNet™, eliminating the need for firms to establish individual exchange relationships.

Choose your access model

Dedicated connectivity

Private dedicated connection to exchanges with lowest latency possible.

Shared connectivity

Cost-effective shared ports to exchanges managed and monitored by Pico.

Consolidated feed

Normalized data from 230+ venues via RedlineFeed for simplified integration.

Network infrastructure

Learn about PicoNet™'s ultra-low latency global network connecting 900+ exchange and venue products.

Common use cases (and what you'll achieve)

Algorithmic trading with direct feeds

Access the fastest, most accurate market data directly from exchanges
Eliminate aggregator latency for speed-critical strategies

Eliminate individual exchange relationships

Let Pico manage venue connectivity, protocol changes, and exchange relationships
Reduce operational overhead of managing dozens of connections

Cost-effective market access

Reduce exchange fees through shared connectivity or centralized dedicated ports
Benefit from Pico's economies of scale

Global coverage from single provider

Access US, European, and Asia-Pacific venues through one provider
Eliminate managing regional relationships independently

Full-depth order book access

Receive complete order book data (not just top-of-book)
Support sophisticated trading strategies requiring full market depth

Raw Market Data FAQs

Direct access to raw market data from 900+ exchange and venue products including equities, options, futures, and fixed income. Real-time feeds via PicoNet™ with dedicated and shared port options across US, Europe, and Asia.

Start with the venues and connectivity you need

Talk to a Pico specialist about your venue requirements, latency needs, and whether dedicated, shared, or consolidated feed solutions best fit your trading infrastructure.

Request access View venue list