SIP Second Quarter Report

Traders Magazine Online News, September 19, 2019

John D’Antona Jr.

The SIP Operating Committees are committed to increasing transparency by providing detailed information on
the respective operations of both the Consolidated Tape Association (“CTA”) and Unlisted Trading Privileges
(“UTP”) SIPs. The CTA/CQ SIP is responsible for the dissemination of real-time quote and trade information in
Tape A and Tape B securities, while the UTP SIP handles Tape C securities. While the organizations provide
considerable information on the respective Plan websites – www.ctaplan.com and www.utpplan.com – the
Operating Committees have also begun providing the most sought-after information via a high-level quarterly
snapshot. What follows are the highlights for the Q2 2019 period.

SIP Securities
Information
Processors Q2 2019

OVERVIEW
PERFORMANCE (last 12 quarters)
Tape A&B Trade Feed
Period System Availability Median Latency
Q2 2019 100.00% 94 μs
Q1 2019 100.00% 102 μs
Q4 2018 99.99% 112 μs
Q3 2018 100.00% 122 μs
Q2 2018 100.00% 121 μs
Q1 2018 100.00% 119 μs
Q4 2017 100.00% 120 μs
Q3 2017 100.00% 113 μs
Q2 2017 100.00% 113 μs
Q1 2017 100.00% 115 μs
Q4 2016 100.00% 160 μs
Q3 2016 100.00% 240 μs

Tape A&B Quote Feed
Period System Availability Median Latency
Q2 2019 100.00% 61 μs
Q1 2019 100.00% 61 μs
Q4 2018 100.00% 60 μs
Q3 2018 100.00% 85 μs
Q2 2018 100.00% 84 μs
Q1 2018 100.00% 84 μs
Q4 2017 100.00% 87 μs
Q3 2017 100.00% 83 μs
Q2 2017 100.00% 82 μs
Q1 2017 100.00% 81 μs
Q4 2016 99.99% 80 μs
Q3 2016 100.00% 210 μs

Tape C Trade Feed
Period System Availability Median Latency
Q2 2019 100.00% 17.3 μs
Q1 2019 100.00% 17.3 μs
Q4 2018 100.00% 17.3 μs
Q3 2018 100.00% 17.3 μs
Q2 2018 100.00% 17.3 μs
Q1 2018 100.00% 17.5 μs
Q4 2017 100.00% 17.5 μs
Q3 2017 100.00% 17.5 μs
Q2 2017 99.99% 17.3 μs
Q1 2017 99.99% 18.4 μs
Q4 2016 100.00% 18.9 μs
Q3 2016 100.00% 475.9 μs

Tape C Quote Feed
Period System Availability Median Latency
Q2 2019 100.00% 16.5 μs
Q1 2019 100.00% 16.6 μs
Q4 2018 100.00% 16.6 μs
Q3 2018 100.00% 16.5 μs
Q2 2018 100.00% 16.6 μs
Q1 2018 100.00% 16.5 μs
Q4 2017 100.00% 16.3 μs
Q3 2017 100.00% 16.3 μs
Q2 2017 99.99% 16.5 μs
Q1 2017 99.99% 17.1 μs
Q4 2016 100.00% 18.0 μs
Q3 2016 100.00% 457.3 μs

Note: For detailed performance figures, please visit the CTA and UTP websites.

REDI Mobile
SIP Quarterly Highlights Securities
Information
Processors Q2 2019

REVENUES
In Q2 2019, trade and quote revenue distributed to Plan Participants for Tapes A, B and C continued its decade-long trend of remaining essentially flat despite an enormous increase in message volumes. Over this 10+ year period, the SIPs have made significant technology improvements to handle these new processing demands, reduce latency and increase uptime to unprecedented levels.

 

Note: For detailed revenue figures, please visit the CTA and UTP websites.

For more information on related topics, visit the following channels:

• Technology