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DROP (delivery of real-time execution information protocol) is a feature of various NASDAQ (National Association of Securities Dealers Automated Quotations) protocols that allows a subscriber to continuously view vital information about trades including the date and time, the participants (by symbol or icon), order identification data, condensed descriptions, the exchange prices and relevant commissions. DROP is a feature of the ITCH, OTTO, RASHport and OUCH protocols.
DROP facilitates the ease and effectiveness with which NASDAQ customers conduct business in the options market. Protocols that incorporate DROP help subscribers to monitor, place, execute or cancel orders. OUCH and similar protocols allow subscribers to integrate NASDAQ into proprietary networks. In this context, the term real-time refers to the ability of a computer or system to keep track of some external process such as weather parameters, election returns or stock market activity on a moment-to-moment basis.
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