• Streaming, real-time, full order book market data
  • Firm, limit order liquidity
  • Available to all clients, regardless of size or activity levels


  • Full order book market data via FIX (4.2/4.4) or binary protocol (ITCH)

FIX – connection fees

Venue Fee
LD4, NY4 & TY3 $500 (per venue)
SG1 Free of charge

FIX – market data access fees

Levels Standard fees Trading client fees Volume discount
TOB $500 Free of charge
3 levels $2,000 $1,000 50% discount (over $4bn p/m)
5 levels $5,000 $2,500 50% discount (over $7bn p/m)
10 levels $10,000 $5,000 50% discount (over $10bn p/m)
Delayed trade feed $1,000 Free of charge


Standard fees – for non-trading and trading clients who do not meet monthly eligibility criteria:
FIX market data throttled to 10 updates per second

Trading clients fees – monthly eligibility criteria:
$250 million minimum traded volume per month, per tier, per venue
$5 billion minimum traded volume per month for access to 5 and 10 levels
Trading clients can receive unthrottled FIX market data (up to 1 update per ms.)

Volume discount – applicable to trading clients meeting monthly trading volume thresholds in any LMAX Exchange venue

ITCH – market data access fees

Venue Fee Volume discounts
LD4 $75,000 Reduced to $20,000 if total global volumes exceed $20bn and a minimum aggressive/passive ratio of 30% is reached

LMAX Exchange monthly market and trade data fees (effective from 1 July 2023) download PDF