Monday, May 04, 2020

Data News #2020 - 3
Correction: Nasdaq Canada Waives fees for Nasdaq Basic Canada

Markets Impacted:

Products Impacted:

Contact Information:

What you need to know:

To offer further savings to the industry, Nasdaq Canada is introducing a fee waiver for its Nasdaq Basic Canada product. This waiver will make Nasdaq Basic Canada free of charge for all users and firms. The waiver will be effective Monday, June 1, 2020 through Wednesday, September 30, 2020.

What is being announced?

Nasdaq Canada is offering Nasdaq Basic Canada's fee waived to all subscribers effective June 1, 2020 through September 30, 2020. This waiver applies to all fees associated with the Nasdaq Basic Canada product.

What is Basic Canada?

Nasdaq Basic Canada is a consolidated market data product providing an alternative solution for accessing Level 1 data for Canada-listed securities. Nasdaq Basic Canada provides data from across Nasdaq Canada’s three Trading Books:

  • Nasdaq CXC – A key lit pool of liquidity in Canada that provides users a reliable trading platform for Canadian equities.
  • Nasdaq CX2 – Offers further cost savings and trade efficiencies that leverage Nasdaq INET technology through a unique pricing model and broker preferencing functionality.
  • Nasdaq CXD – Alternative dark pool of non-displayed liquidity that was launched due to client demand, which delivers advantages like trading-at-the-touch and competitive pricing, along with other easy-to-use features.

What is the Security Coverage of Nasdaq Basic Canada?

Correction 05/04/2020: 100% of all TSX, TSX-V and CSE listed securities are eligible to trade on Nasdaq Basic Canada. Any instrument that quotes or trades on any of the three Nasdaq Canada Trading books will be available via the Nasdaq Basic Canada product as well as the traditional individual product entitlements.

What makes Nasdaq Basic Canada unique?

In addition to providing a complete record of all trade reports from Nasdaq Canada’s three Trading Books in a single consolidated market data product, Nasdaq Basic Canada also combines the liquidity available across CXC and CX2 to create a Nasdaq Canada BBO.

This new type of quotation message provides users with the best bid and ask across CXC and CX2; but also provides details of attribution, allowing for a deeper level of market insight on a single entitlement.

How do firms order Nasdaq Basic Canada?

To order the product, firms must submit the appropriate documentation and receive prior approval from Nasdaq:

  • Data Feed Request Form: Online or Hard Copy - Required for all firms. New firms must use the hard copy PDF.
  • Data Use Agreement is required for all firms that are users of the data.
  • Data Distribution Agreement is required for all firms that are distributors of the data.
  • Nasdaq Canada Data Agreement – User or Distributor agreements are required for all firms, dependent on use case, prior to initiation of the first Nasdaq data service only.

For the complete list of Nasdaq market data agreements and forms, please refer to the Nasdaq Global Data Products Agreements and Forms page.

Where can I find additional information?

Fact sheets describing the product value proposition, technical details, and other content can be found on the Nasdaq Basic Canada webpage available below:

For additional information, please contact Nasdaq Global Data Sales at +1 301 978 5307 or or +1 888 310 1560.

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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: