Democratizing information that at the moment, only a few big players know/can use to their advantage in the traditional market.
The premise of this whole reverse-exploit is that there are people who are extracting value by getting preferential treatment with their transaction execution by doing deals outside of the blockchain itself (which are hidden and not public by default).
> TD Ameritrade offers Level II quotes free of charge to both professional and non-professional traders. This is a very generous policy. Not all brokers offer Level II quotes at no cost. For example, TradeStation charges $10 per month for Level II quotes for non-professionals, while professional traders must pay a very steep $110 per month for the same data.
Nice! competition is great.
Or do providers just charge because they can, as with commissions?
(Turns out in a post Robin-Hood world, transactions could be zero-commission, but the commission charging providers just chose to continue despite other revenue available to cover the cost).
Is the actual cost a drop in the bucket so they just eat the cost or?
Where can I get free depth of market for futures? eg for CME/CBOT L2, I pay roughly $50/mo as a retailer, or approx $500 for professional. It's not high enough that I would consider changing brokers, but I didn't know it was legal to redistribute Rithmic/CQG L2 streams(they are the only games in town last I checked, and everyone resells them).
edit to add: To be clear, my L2 is 10-levels deep from both bid/ask. I know you can get infinite depth from Rithmic for absurd quantities of money, but don't see the value in it(for me).