What is the Options Price Reporting Authority?

options price reporting authority, opra

Accurate real-time data is essential to the proper functioning of the options market, but it would be tremendously challenging for individual associations to collect and process options market data. Exchanges involved in options trading produce huge amounts of data, far beyond of data than other asset classes generate. In other words: options data traffic produces at least 75% of all market data! This growth in data has caused a seemingly interminable increasing demand in hardware and software for vendors and customers as well. This all by increasing of the operating costs with just a little or even no benefit for the market participants. Hence, a solution has to be developed to address the issue. The solution which was developed has got the name Options Price Reporting Authority (OPRA). (more…)