US SIP Changes, Odd Lots, and OneTick Cloud Market Data
US market data is changing as Securities Information Processor (SIP) updates add more precision to quote sizes, fractional share reporting, and odd lot visibility. Future changes to half-penny tick sizes and 23-hour trading could also affect message rates, data models, and downstream analytics.
Watch this webinar to learn what the US SIP changes mean for market data consumers and how OneTick Cloud supports access to real-time and historical market data.
What Are the US SIP Changes?
The US Securities Information Processors consolidate quote and trade information from US equity exchanges into CTA and UTP feeds. Recent SIP changes affect how quote sizes, fractional shares, and odd lots are represented in consolidated market data.
These changes are intended to give market participants a more complete view of trade and quote activity, but they can also increase the amount of data firms need to consume, model, and store.
Why Do Odd Lots Matter in US Equity Market Data?
Odd lots are orders or quotes below the standard round lot size, often fewer than 100 shares. Historically, SIP feeds did not provide the same level of visibility into odd lot quotes as direct exchange feeds.
Greater odd lot visibility can show more available liquidity, including prices at or better than the national best bid and offer (NBBO). It can also increase quote data volumes for firms consuming the updated feeds.
What Will You Learn?
In this webinar, Peter Simpson and Chris Brampton explain:
- What changed in US SIP quote size reporting
- How fractional share reporting affects trade data
- Why odd lot quote visibility matters for market data consumers
- How odd lot data can increase quote volumes
- What half-penny tick sizes could mean for message rates
- How 23-hour US equity trading may affect market data infrastructure
- How OneTick Cloud models odd lot and composite quote data
- What new datasets and book depth coverage are being added across regions
- How Does OneTick Cloud Support Market Data Access?
OneTick Cloud provides access to market data across global equities, futures, spreads, options, and derived feature sets. The session explains how users can access real-time and historical data through files, APIs, SQL, Python, and MCP-based natural language query workflows.
OneTick Cloud also supports composite market data workflows, including custom market best bid and offer (MBBO) calculations in markets where there is no regulatory MBBO.
How Does OneTick Cloud Model Odd Lots?
OneTick Cloud preserves existing quote and NBBO tables for round-lot workflows. It also adds composite tables, including QuoteComp and NBBOComp, to show the best overall quote across round lots and odd lots.
This approach helps users access odd lot information while maintaining continuity for workflows that still depend on round-lot NBBO data.
What Other Market Data Changes Are Covered?
The webinar also covers:
- Half-penny tick size changes in US equities
- 23-hour US equity trading
- US book depth expansion
- Changes to CME crypto product trading hours
- National Stock Exchange of India feed changes
- Additional book depth and global venue coverage
- Fixed income, futures, options, and derived feature datasets
Who Should Watch?
This webinar is relevant for:
- Heads of market data
- Market data operations teams
- Trading technology teams
- Quant research teams
- Data engineers
- Platform architects
- OneTick Cloud users and evaluators
