The Nasdaq Stock Market (Nasdaq)
The Nasdaq Stock Market (Nasdaq) is the largest U.S. equities exchange venue by volume. Built on the trusted INET technology, Nasdaq’s speed of execution helps ensure quote updates and orders are processed nearly instantaneously with a 99.99+% uptime. Nasdaq seamlessly integrates with other value-added products and services to provide the complete package for U.S. equity trading.
Order Types and Functionality
Nasdaq features a price/time priority model where the execution logic is fair and transparent for all market participants. All displayed limit orders are treated equally and executed in the order in which they were received at the same price. Non-displayed shares are executed after displayed shares in the order in which they were received at that price.
Nasdaq offers popular orders and functionality such as Minimum Quantity, Mid-Point Peg and Post Only orders, Self Match Prevention and Order Modify functionality, a robust suite of innovative routing strategies and our award-winning opening and closing crosses.
Nasdaq's equity order types are designed to help members comply with regulation and execute a range of trading strategies. To understand the available order types, view the Order Type Presentation and Order Types Guide.
Through our primary data center, firms can connect to all eight of Nasdaq's U.S. markets. Nasdaq also offers customers the ability to connect to our markets from key financial data centers outside our Carteret facility through our Point of Presence Service. Explore all of the options and protocols available for Nasdaq in Connectivity.
The following connectivity options/protocols are available for accessing Nasdaq:
Nasdaq Global Data Products is focused on creating innovative data products that provide unsurpassed market transparency to institutional, retail and individual investors. Product offerings include real-time data feeds, web-based reports and plug-and-play technology for instant access to market data. Explore all the options in Market Data.
Real-Time Data Feeds
For firms that demand the lowest latency products, Nasdaq offers a variety of direct access data feed products from its Nasdaq market center system for equities, including:
- Nasdaq TotalView ITCH and Nasdaq Historical/TotalView Aggregated
- Nasdaq Market Velocity and Forces
- Nasdaq Market Pathfinders
- Nasdaq Last Sale
- Global Index Data Service (GIDS)
Please refer to the U.S. direct connectivity or extranet providers list for access options to the Nasdaq data centers. Please refer to the Data Products Specifications page for technical interface information for Nasdaq direct data feed products.
Nasdaq has an extensive offering of interactive web applications, including inbound data entry interfaces and graphical display products to ease customer technology requirements and allow the information to reach the end-customers more quickly.
For more information about our web-based product offerings, please visit the Direct Web Products page.
Nasdaq offers a variety of reports via a secured website and secured FTP server giving customers an opportunity to increase profits through unsurpassed market transparency. For more information about our report product offerings, please visit the Reports page or refer to the links below:
To subscribe to any of our market data products please contact your Nasdaq Global Data Products Account Manager at +1 301 978 5307 or visit the Global Data Products Administration page to complete the appropriate agreements and forms.
Trading and Connectivity
Fact Sheets and Guides
- Fact Sheet & Guides Page
- AQR & Market Maker Peg FAQ
- Dark & Cost Fact Sheet
- Investor Support Program
- Market Maker Peg Order
- Mid-Point Peg
- Mid-Point Peg Post-Only Order
- MOPP Routing Strategy
- Nasdaq Order Entry Reference Guide
- Order Types and Modifiers
- Post-Only Order
- Price Sliding
- Protocol Quick Reference Guide
- Retail Attestation Form
- Routing Strategies Guide
- Self Match Prevention
- Single Stock Trading Pause FAQs