r/stocks
公共市场难道不该有公开的数据吗？
作者批评纽交所高昂的数据费用造成了信息不对称，并阻碍了使用 Robinhood 等 API 的散户算法交易者。
- AI 普及了分析工具，使负担得起的数据访问成为市场竞争的新前沿。
- 公共市场需要公开的实时数据端点，以确保真实的价格发现和市场效率。
- 纽交所的数据垄断和高昂费用造成了信息不对称，破坏了市场效率并增加了波动性。
- 散户被排除在实时订单流之外，使市场变成了一场由入场费决定胜率的彩票。
纽约证券交易所是一家私人公司，自称为全球最大的公开市场。然而，它每月收取8400美元才能获得实时数据访问权限，外加每位专业用户78美元的月费。你可以通过罗宾汉或嘉信理财的API构建算法交易系统，但无法获取实时的纽约证券交易所订单流数据，因为这些数据由纽约证券交易所拥有，并且访问费用高昂。即使是一名用自己的资金在自己经纪商账户上交易的开发者，也无法通过程序化方式获取他们竞争所需的市场数据。
过去，分析能力是瓶颈，数据垄断无关紧要。但现在前沿人工智能已经让分析工具变得普及，控制数据访问就成了唯一的竞争优势。但真正关键的是：信息不对称会破坏市场效率。当散户投资者和开发者无法获取实时订单流时，价格就无法反映真实价值，波动性也会增加。监管的角力点已不再是AI工具，而是数据访问权。公开市场需要公开、负担得起、实时的数据接口。否则，你不是在进行价格发现，而是在玩一场入场费决定中奖概率的彩票游戏。
如果无法通过获取这些数据获得优势，那为什么还有人和机构愿意为此付费呢？
The public data is the legally required SEC filings
I don't understand this confusion that constantly arises, where people think market data is something to which one can be entitled. The New York Stock Exchange exists to let people easily exchange stock at market-driven prices, not to provide a level playing field for head-to-head competitions between algorithmic traders.
we are probably dealing with a lot of college "finance majors" in their sophomore year.
OPs argument about the way things "should" be seems to have just as much merit as yours though. Any opinion on what the legislative landscape should require is always about what you think people are entitled to.
Doesn't really seem like much of an issue. The public markets don't require that to be public and never has.
You do not need real-time data for efficient price discovery.
Always has been
AI slop. Stfu
"But here’s what really matters: "
“Bottom line”
Apple is a publicly traded company, why can't I find Tim Cooks phone number and ask him what iPhone 20 looks like
Intercontinental Exchange, Inc. (ICE) Stock Price, News, Quote & History - Yahoo Finance
The NYSE is explicitly not a privately held company. Its a publicly held company
\> A publicly traded company can still be a private actor
Absolutely, but this is wrong
\>The NYSE is a privately held company
a privately held company is literally defined as
\> A privately held company, or simply private company, is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in their respective listed markets. Instead, the company's shares are held and transferred privately and are not traded on public stock exchanges.
Privately held company - Wikipedia
So please, share how the NYSE isn't publicly traded. If you can provide a definition that says a privately held company doesn't trade on an exchange, please do
I don't think the NYSE cares about free markets as much as they care about making money.
OP isn't talking about company financials they are talking about order flow data, which, no, it doesn't make any sense to claim you have a right to that being public.
OP wants the government to force a private company to give out market data for free. Wtf else is he asking about?
Private company is obviously never going to do it otherwise, and they have a monopoly on the data.