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Friday, May 21, 2021

Data News #2021 - 5
Nasdaq Basic Enterprise License Expansion for Nasdaq Last Sale Distribution

Markets Impacted:

  • Nasdaq Last Sale
  • Nasdaq Basic

Contact Information:

What you need to know:

Nasdaq has expanded the U.S. Nasdaq Basic [Internal & External] enterprise license to allow broader distribution to the general investing public.

What is changing?

Nasdaq is allowing broker-dealers that purchase the U.S. Nasdaq Basic [Internal & External] enterprise license to distribute Nasdaq Last Sale (“NLS”) to the general investing public under the same terms and conditions permitted under the U.S. Nasdaq Last Sale [External] license, subject to platform approval, at no additional fees. Please refer to the Nasdaq Market Data Policies for specific language regarding enterprise licenses.

Why is this change happening?

Nasdaq is continuously looking to improve its products and licenses. In response to customer feedback and discussions, Nasdaq recognized the potential confusion for customers between the Nasdaq Basic enterprise license, which previously had relatively limited distribution of Nasdaq Last Sale, and the Nasdaq Last Sale enterprise license, which allowed broader distribution. Nasdaq has resolved this potential customer confusion by applying the same standards for distribution of Nasdaq Last Sale to both enterprise licenses.

When is this change going into effect?

This filing is effective April 30, 2021.

Who should I contact for additional information?


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