Interactive Brokers have recently announced an interesting new data product called Interactive Brokers Information Systems (IBIS) that seems to be trying to fill the gap for investors and traders who want extensive data and analytics services without the Bloomberg and Reuters-level price tag.
IBIS is available as an add-on to its Trader Workstation for Interactive Brokers’ clients (US$39/month, discounted against commissions) or as a stand-alone product for non-clients (US$69/month for the first year, rising to US$89/month afterwards). That’s the platform fee – you need to pay the relevant exchange and provider fees for price and data feeds on top of that.
Existing clients can already get data through Interactive Brokers on the same terms, so the extra US$39/month value in IBIS is presumably supposed to be the convenience of its interface, portfolio analytics, screening tools and other software. Each trader will have their own view on whether this is worth the money or not.
For non-clients, this now seems to be the cheapest stand-alone way to subscribe to international price and fundamental data. With an IBIS platform subscription, you can then get Reuters Worldwide Fundamentals for US$7/month, for example.