DBEQ.BASIC coverage updates and new US equities offerings

March 19, 2024
Title picture for DBEQ.BASIC coverage updates and new US equities offerings

The MIAX Pearl Equities™ Exchange is ending its waiver period for market data fees on April 1, 2024, and will establish monthly fees for users accessing its Depth of Market (DoM) feed, pending filing with the SEC. As a result, Databento Equities Basic (DBEQ.BASIC) will no longer include MIAX Pearl Equities DoM.

Licensing fees are charges imposed by trading venues for the distribution, display, and non-display use of live market data for personal or commercial applications. MIAX Pearl Equities has waived its licensing fees since its inception in September 2020, as outlined in Section 3)b) of its current fee schedule. The amendment will introduce licensing fees of $2,000 to $2,500 per month for distribution and non-display use cases.

For a detailed overview of the fee schedule changes, please refer to the regulatory circular published by MIAX Pearl Equities. Its Top of Market (ToM) feed pricing will also be affected, but Databento only sources from its DoM feed.

Databento is deprecating MIAX Pearl Equities coverage in light of the venue's decision to assess licensing fees. DBEQ.BASIC launched as the industry's first multi-venue proprietary feed that's free to license for all personal and commercial use cases—and we're committed to keeping it that way. As of April 1, 2024, MIAX Pearl Equities will be removed from DBEQ.BASIC to ensure that this dataset will continue to support commercial use cases without any monthly licensing fees. After this change, DBEQ.BASIC will continue to include IEX TOPS, NYSE Chicago Integrated, and NYSE National BBO and Trades.

We're repackaging our dataset bundles to provide higher trade volumes and expanded venue and liquidity coverage. Here's what you can expect:

  • Our new equities bundles will offer 6 years of historical coverage ranging from over 31% to 100% of average daily volume (ADV), a significant improvement from DBEQ.BASIC's 5% ADV.
  • MIAX Pearl Equities historical data will be reintegrated as part of a new US equities offering.
  • We'll also enhance our two existing US equities datasets, DBEQ.BASIC and Nasdaq TotalView-ITCH, by combining them into a single offering that includes historical coverage of Nasdaq and NYSE.
  • For live data, our new bundles will offer a combination of IEX TOPS, NYSE Chicago Integrated, NYSE National BBO and Trades, NYSE BBO and Trades, and Nasdaq Basic NLS+ data, providing coverage of up to 77% ADV while minimizing licensing fees.
  • Nasdaq TotalView-ITCH, NYSE Integrated, and NYSE Arca Integrated will be made available as optional live dataset add-ons for users that require live or intraday full order book data.

We plan to release each of these equities datasets by the end of July 2024, and you can track our development progress on our public roadmap. Thank you for your patience as we enhance our US equities solutions, and stay tuned for an upcoming announcement with more details!