Wednesday, October 7, 2015
Data News #2015 - 5
Nasdaq Announces U.S. Depth Non-Display Fee Changes for Direct Access Subscribers Effective January 1, 2016
Markets Impacted:Products Impacted:Contact Informaiton:
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What you need to know:
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What is changing?
Pending a filing to the Securities Exchange Commission (SEC), Nasdaq will change the Direct Access Non-Display fee structure for Nasdaq U.S. equities depth data, which includes Nasdaq TotalView, Nasdaq OpenView and Nasdaq Level 2, effective January 1, 2016.
The revised fees and tiers for Nasdaq U.S. Equities Depth Non-Display usage through Direct Access are outlined below:
Direct Access U.S. Non-Display Depth Subscriber/Devices | 2016 Monthly Fee |
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1 - 39 Subscribers | $375 per Subscriber |
40 - 99 Subscribers | $15,000 per firm |
100 - 249 Subscribers | $30,000 per firm |
250+ Subscribers | $75,000 per firm |
Why is this change occurring?
Nasdaq continually strives to increase the value of its depth products. Nasdaq is investing in its systems, networks and operational controls to ensure that its depth offering meet the same high level of performance and resiliency that customers have come to expect. We have also upgraded and refreshed our disaster recovery capabilities, adding to the increased focus on redundancy and resiliency.
Nasdaq also continues to make enhancements to the Net Order Imbalance Indicator (NOII). The NOII is a vital imbalance data tool, and is included as a part of Nasdaq TotalView. It is designed to specifically increase the value of auction information, and provide a greater level of transparency around these events. One enhancement result is shares indicated in the imbalance will now represent the excess shares to buy or sell at the reference price, inclusive of hidden, reserve and immediate or cancel (IOC) orders. For more information on the specifics surrounding these changes, please refer to: Data Technical News #2014 - 28 and Equity Trader Alert #2014 - 117.
For more information on our IPO process, please visit Nasdaq IPO Cross.
Please note, this is the first price revision since the 2012 introduction of the current tiered Non-Display fee model.
Where can I find additional information?
- 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.
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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.