NASDAQ Last Sale (NLS)
NLS provides real-time intraday last sale data for all securities traded in NASDAQ systems and the FINRA/NASDAQ Trade Reporting FacilityTM (TRFTM). NASDAQ has more liquidity than any other U.S. exchange, making NLS a reliable and accurate source for real-time, intraday trade data.
NLS is a remarkable advancement in transparency, allowing millions of people around the world to access NASDAQ real-time validated data. NLS is designed to:
- Encourage universal distribution of NASDAQ real-time trade data to the public via the Internet and other electronic media.
- Enable firms to create dynamic stock tickers, portfolio trackers and time/price graphs products for public use.
- Ensure widespread delivery of NLS through its innovative pricing—multiple fee schedule options as well as monthly fee caps.
- Include data from both the NASDAQ trading platform, which has the most liquidity in U.S. Equities than any other U.S. exchange, as well as data from the FINRA/NASDAQ Trade Reporting Facility (TRF).
- Support the full range of U.S. exchange-listed equities—NYSE- and Amex-listed issues as well as NASDAQ-listed issues.
- The Internet: Real-time NLS data is available at no charge to the end user on the following public websites:
- Market Data Vendors: Individual investors and traders may also access real-time data via terminal and data feed products offered by NASDAQ market data distributors. View the full list of NASDAQ Real-Time Data Vendors.
- NASDAQ OMX Direct Data Feed Products: Trading firms and market data vendors may create a real-time display by processing direct NASDAQ OMX data feed products. For detailed technical documentation for NASDAQ OMX's direct products, please refer to the specifications page of the NASDAQ Trader website.
- The NASDAQ Stock Market® (NASDAQ®)
- FINRA/NASDAQ Trade Reporting Facility (TRF)
- NASDAQ OMX BXSM (BXSM)
- NASDAQ OMX PSXSM (PSXSM)
- Data Feed Request Form - Required for all firms
- NASDAQ OMX Global Data Agreement - Required for all firms prior to initiation of the first NASDAQ OMX data service only
- System Application - Required for firms only if the data will be displayed or used in a system that is not yet approved by NASDAQ OMX
NLS is available via the following distribution channels:
Enhance Your Feed: NLS Plus
NLS Plus is a comprehensive but affordable data feed providing access to all NASDAQ OMX U.S. markets' last sale data as well as consolidated volume. NLS Plus includes all trade data from the following NASDAQ OMX markets for U.S. exchange-listed securities:
NLS Plus also provides consolidated volume information as part of each trade message. Market data distributors are encouraged to use NLS Plus to create enhanced NASDAQ Last Sale and NASDAQ Basic displays.
This product is subject to the following usage and distributor fees:
|NASDAQ Last Sale (NLS)|
|Entitlement Name||Security Coverage||Monthly Fee|
|NLS Non-Professional User Option||NASDAQ Issues||1 to 9,999 users: $0.60 each
10,000 to 49,999 users: $0.48 each
50,000 to 99,999 users: $0.36 each
100,000 user or more: $0.30 each
|NYSE and Amex Issues||1 to 9,999 users: $0.30 each
10,000 to 49,999 users: $0.24 each
50,000 to 99,999 users: $0.18 each
100,000 users or more: $0.15 each
|NLS Per Query Option||NASDAQ Issues||Up to 10 million: $0.0030 each
10 million to 20 million: $0.0024 each
20 million to 30 million: $0.0018 each
Over 30 million: $0.0015 each
|NYSE and Amex Issues||Up to 10 million: $0.0015 each
10 million to 20 million: $0.0012 each
20 million to 30 million: $0.0009 each
Over 30 million: $0.000725 each
|NLS Unique Website Visitor Option||NASDAQ Issues||Up to 100,000: $0.036 each
100,001 to 999,999: $0.030 each
Over 1 million: $0.024 each
|NYSE and Amex Issues||Up to 100,000: $0.018 each
100,001 to 999,999: $0.015 each Over 1 million: $0.012 each
|NLS Television Per Household Option||NASDAQ Issues||Up to 1 million: $0.00096 each
1 million to 5 million: $0.00084 each
5 million to 10 million: $0.00072 each
Over 10 million: $0.00060 each
|NYSE and Amex Issues||Up to 1 million: $0.00048 each
1 million to 5 million: $0.00042 each
5 million to 10 million: $0.00036 each
Over 10 million: $0.00030 each
|NLS Distributor Fee||NASDAQ, NYSE and Amex Issues||$1,500 per firm|
|FilterView - NASDAQ Trades||NASDAQ, NYSE and Amex Issues (NASDAQ Execution System only)||$500 per firm|
|FilterView - TRF Trades||NASDAQ, NYSE and Amex Issues (FINRA/NASDAQ Trade Reporting Facility only)||$500 per firm|
|Enterprise License Option|
|NLS Enterprise License*||NASDAQ, NYSE and Amex Issues||$50,000 per firm|
The usage fees are assessed based on the number and type of subscribers that access NASDAQ OMX market data. See the NASDAQ OMX Data Policies document for additional information. Please consult with your NASDAQ OMX Global Data Product account manager to determine which fee option is best suited to your company's needs.
The enterprise license option is available to all firms. For some products, there may be a minimum subscription length. Please contact your NASDAQ OMX Global Data Product account manager to discuss this pricing option.
*Customers entitled to the Enterprise License of NASDAQ Last Sale receive GIDS at no additional fee.
Agreements & Forms
To initiate this data on a data feed, firms must submit the appropriate documentation and receive prior approval from NASDAQ OMX:
For the complete list of NASDAQ OMX and UTP market data agreements and forms, please refer to the NASDAQ OMX Global Data Products Agreements and Forms page.
FINRA™, Trade Reporting Facility™ and TRF™ are trademarks of Financial Industry Regulatory Authority.