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 Q4 2019 period.
SIP Securities Information Processors Q4 2019
OVERVIEW PERFORMANCE (last 12 quarters)
Tape A&B Quote Feed
Period System Availability Median Latency
Q4 2019 100.00% 61 μs
Q3 2019 99.97% 61 μs
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
Tape C Quote Feed
Period System Availability Median Latency
Q4 2019 100.00% 16.5 μs
Q3 2019 100.00% 16.5 μs
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
Tape A&B Trade Feed
Period System Availability Median Latency
Q4 2019 100.00% 66 μs
Q3 2019 99.82% 64 μs
Q2 2019 100.00% 94 μs
Q1 2019 100.00% 102 μs
Q4 2018 100.00% 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
Tape C Trade Feed
Period System Availability Median Latency
Q4 2019 100.00% 17.3 μs
Q3 2019 100.00% 17.3 μs
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
Note: For detailed performance figures, please visit the CTA and UTP websites.
Securities Quarterly Highlights Information Processors Q4 2019
REVENUES
In Q4 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.
