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Wednesday, October 7, 2015

Data News #2015 - 4
UPDATE: Nasdaq Announces U.S. Managed Data Solutions (MDS) Fee Changes Effective January 1, 2016

Markets Impacted:

Products Impacted:

Contact Information:

What you need to know:

  • UPDATE: FPGA Entitlement Names clarification.
  • Effective Friday, January 1, 2016, Nasdaq will introduce a revised pricing structure for U.S Managed Data Solutions.

What is changing?

Effective, January 1, 2016, (pending a filing to the Securities and Exchange Commission) the new fees for MDS will be as follows:

Entitlement Name 2016 Monthly Fee
Managed Data Solutions – Nasdaq License Fee $2,500
Managed Data Solutions - Nasdaq TotalView Professional Subscriber Fee $375
Managed Data Solutions BX Distributor Fee $1,500
Managed Data Solutions BX TotalView Professional Subscriber Fee $150
Managed Data Solutions PSX Distributor Fee $1,500
Managed Data Solutions PSX TotalView Professional Subscriber Fee $150
Managed Data Solutions-FPGA Administration Fee $5,000 for first subscriber
Managed Data Solutions-FPGA Subscriber Fee $750 per additional subscriber

*Non-professional fees will not be affected by these price revisions.

Why is this change occurring?

Nasdaq continues to increase the value of the underlying products associated with Managed Data Solutions (MDS). As such, Nasdaq recently completed a technology refresh to ensure that our data feeds continue to achieve a high level of performance and resiliency. We have also upgraded and refreshed our disaster recovery capabilities, adding to the increased focus on redundancy and resiliency.

Nasdaq is pleased to continue working with a growing number of Distributors looking to offer integrated data and entitlement solutions for U.S. depth products to their clients. Through this program, Nasdaq offers a much simpler administration process for MDS clients and distributors reducing the burden and cost of administration.

While the MDS Subscriber fee has not changed in the last four years, Nasdaq is changing this fee now to remain consistent with the revised direct access non-display fee to maintain price uniformity between these two methods of accessing non-display depth information. Additionally, MDS subscribers also reap the benefits of Nasdaq’s constant focus on the performance and enhancements to offerings.

What are Managed Data Solutions?

A Managed Data Solution is a data delivery option available to distributors of Nasdaq, BX, and PSX U.S. Depth Equity information.

Under the MDS fee structure, Distributors may provide data feeds, Application Programming Interfaces (APIs) or similar automated delivery solutions to client organizations with only limited entitlement controls. The recipient of a Managed Data Solution may use the information for internal purposes only and may not distribute the information outside of their organization. For more information on our MDS program, please click here MDS Policy.

Managed Data Solutions present opportunities for small and mid-size firms to achieve significant cost savings over the cost of data feeds.

How does my firm become an approved distributor of Managed Data Solutions?

To receive approval to offer a Managed Data Solution to clients, distributors must submit the appropriate documentation and receive prior approval from Nasdaq:

What are my firm’s obligations to become approved to receive a Managed Data Solution via an authorized Provider?

Managed Data Solution recipients must submit a Managed Data Solution System Application for approval by Nasdaq. Nasdaq will then communicate the approval via an email.

Where can I find additional information?

  • The full price list for Nasdaq's U.S. data products is accessible at U.S. Data Products Fee Schedule..
  • For more information, please contact your Sales Representative at +1 301 978 5307 (Option #1) or +45 33 93 33 66.
  • For additional information about Nasdaq market data policies, please refer to the Nasdaq Global Data Policies.

    • 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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