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Thursday, October 1, 2020

Data News #2020 - 8
Nasdaq Announces Internal Nasdaq Basic Enterprise License Fee Reduction, Effective October 1, 2020

Markets Impacted:

  • Nasdaq

Products Impacted:

  • Nasdaq Basic

Contact Information:

What you need to know:

Effective October 1, 2020, Nasdaq will revise the Internal Nasdaq Basic Broker/Dealer Enterprise License, subject to Securities and Exchange Commission (SEC) approval.

Nasdaq will reduce the optional Internal Nasdaq Basic Enterprise License for Broker/Dealers to the rate of $155,000 per month.

The Internal Enterprise License covers unlimited display usage for Professional employees of a Broker/Dealer who facilitate or directly service the external account holders of the Broker/Dealer, on a Nasdaq-approved system.

What is Nasdaq Basic?

Nasdaq Basic is a real-time market data product that offers Best Bid and Offer as well as Last Sale information for all U.S. exchange-listed securities based on liquidity within the Nasdaq market center, as well as trades reported to the FINRA/Nasdaq Trade Reporting Facility™ (TRF™).

Nasdaq Basic provides an affordable and flexible solution to provide customers with real-time market data. Nasdaq Basic has saved users more than $300 million over the consolidated U.S. market feed since its launch in 2009.

What is changing?

As of October 1, 2020, Nasdaq will reduce the optional Internal Nasdaq Basic Enterprise License from the rate of $365,000 per month to $155,000 per month, subject to SEC approval. As part of this change, Nasdaq is also taking steps to reduce the burden of administrating this license by removing the cap of 16,000 subscribers and the associated additional fee of $2.00 per subscriber over and above 16,000 subscribers.

Why is Nasdaq making this change?

Nasdaq operates in a very competitive market. As a result, Nasdaq is continually reassessing its product offerings and price points to ensure that the products and services offered by Nasdaq represent the highest value to our customers.

When will this change be effective?

October 1, 2020, subject to SEC approval.

What else is included in this license?

A Broker/Dealer that purchases this optional enterprise license may also receive, at no additional charge, access to Nasdaq Last Sale data for its own stock price and the stock price of up to ten of its competitors or peers, for display use on the Broker/Dealer's internal website.

Where can I find additional information?


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Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.

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