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Thursday, June 3, 2010

Data News #2010 - 12
NASDAQ OMX Introduces Enterprise License Option for NASDAQ TotalView Non-Display Usage

Markets Impacted:

  • The NASDAQ Stock Market

Products Impacted:

  • NASDAQ TotalView
  • NASDAQ OpenView
  • NASDAQ Level 2

Contact Information:

What you need to know:

  • NASDAQ OMX® now offers a new Non-Display Enterprise License option for NASDAQ®, exchange depth data.
  • By paying the monthly enterprise license fee of $30,000 per month, a firm may use NASDAQ exchange depth data (including NASDAQ TotalView®, NASDAQ OpenView® and NASDAQ Level 2) in non-display devices.
 

What is changing?

NASDAQ OMX now offers a Non-Display Enterprise License for NASDAQ exchange depth data. The monthly fee of $30,000 per month covers all non-display devices usage of NASDAQ market depth data (NASDAQ TotalView, NASDAQ OpenView and NASDAQ Level 2).

Is reporting required under the Non-Display Enterprise License?

Because the Non-Display Enterprise License covers all NASDAQ exchange depth products (NASDAQ TotalView, NASDAQ OpenView and Level 2), firms subscribing to this entitlement option are not required to count and report non-display devices each month.

Who can order the Non-Display Enterprise License?

The Non-Display Enterprise License option is available to internal data distributors and covers only the subscriber fees associated with non-displayed devices. Firms would still pay the applicable direct access and internal distributor fees.

What is the effective date of the new fee?

The new Non-Display Enterprise License fee option for non-display usage is effective for the service month of May 2010.

Is this entitlement available if my firm only subscribes to Level 2?

No. In order to qualify for this entitlement, a firm must pay the monthly depth data distributor fees associated with the NASDAQ TotalView and NASDAQ OpenView products.

Because firms taking only the Level 2 product do not pay the depth distributor fees at this time, they would not qualify for the Non-Display Enterprise License at this time.

If a firm takes TotalView and Level 2 data feeds, however, it would not need to report non-display devices that utilize only the Level 2 data if the firm opts to enroll in the Non-Display Enterprise License.

In addition to the non-display option, what other enterprise licenses are offered for the NASDAQ TotalView service?

As outlined on the TotalView product page, NASDAQ OMX currently offers the following enterprise license options to firms.

Service LevelDistributor Fees (per month)Details
Non-Display Enterprise License for NASDAQ TotalView/OpenView/ Level 2Internal
$30,0001		Includes unlimited use in non-display applications for TotalView, OpenView and Level 2.
NASDAQ TotalView/OpenView Enterprise License [Display]Internal Professional and/or External Non-Professional
$100,0001,2		Permits Distributor to provide NASDAQ TotalView and NASDAQ OpenView to internal professional users, whether such users receive the data directly or through third-party data providers, and external professional and non-professional users with whom the firm has a brokerage relationship.
NASDAQ TotalView/OpenView Non-Professional Enterprise License [Display]External Non-Professional
$25,0001,2		Permits Distributor to provide NASDAQ TotalView and NASDAQ OpenView to its external non-professional users with whom the firm has a brokerage relationship.

1)Note that distributors purchasing a NASDAQ TotalView/OpenView Enterprise License must pay the applicable NASDAQ TotalView/OpenView/Level 2 Direct Access and Distributor Fees.

2)Note that distributors purchasing a NASDAQ TotalView/OpenView Enterprise License for Display usage must also report and pay the applicable NASDAQ Level 2 subscriber fee for each display device or user ID with access to the data.

Please note: Since there is no NASDAQ OMX enterprise license option for UTP Level 1 data, all firms processing the UTP Level 1 data feeds must pay the applicable UTP Level 1 fees.

How can I sign up for the new NASDAQ OMX Non-Display Enterprise License?

NASDAQ OMX requests that internal distributors complete and return the SystemApplication for Non-Display Usage.

Please refer to the NASDAQ OMX Data Administration page for the complete list of agreements and forms.

Where can I find additional information?

Please follow Nasdaq on Facebook RSS and Twitter.

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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