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Wednesday, November 16, 2011

UTP Vendor Alert #2011 - 9
UTP Plan Announces Replacement of Level 1 Real-Time Annual Administration Fee

Markets Impacted:

  • UTP/SIP

Products Impacted:

  • UTP Quotation Data Feed (UQDF)
  • UTP Trade Data Feed (UTDF)
  • OTC Montage Data Feed (OMDF)
  • Bulletin Board Dissemination Service (BBDS)
  • Trade Data Dissemination Service (TDDS)

Contact Information:

What you need to know:

  • Effective in the month of January 2012, the UTP Level 1 Real-Time Annual Administration fee will be replaced with monthly access fees for Level 1 Services.
  • The Annual Administration fee for delayed data will remain unchanged.
  • For more information on UTP Level 1 fees, please contact NASDAQ OMX Global Data Products at +1 301 978 5307

What is changing?

Effective in the month of January 2012, the UTP Plan will harmonize the price structure among the U.S. national market system plans by replacing the UTP Level 1 Annual Administrative fee for real-time data with monthly access fees. However, the UTP Level 1 Annual Administration fee of $250 per year for delayed data will remain unchanged.

Why is the UTP Plan replacing the Level 1 Service Annual Administration fee with Monthly Access fees?

Access fees offer streamlined price structures that are consistent with other national market system plans and market data providers. This structure enables data recipients to compare their charges under the respective national market system plans more easily, while also making the administrative process more straightforward and streamlined for market data customers.

Which customers are affected by this change?

The UTP Level 1 Direct Access Fee is applicable only to organizations receiving a datafeed from the UTP Securities Information Processor (SIP) directly or via an extranet provider. Organizations receiving a datafeed from another source (e.g., a retransmission vendor) will be liable for the UTP Level 1 Indirect Access Fee. Organizations receiving a datafeed both directly and indirectly shall be liable only for the higher Direct Access Fee.

Note, the references to “datafeeds” would include the receipt of data in an uncontrolled format.

What fees are associated with the Monthly Access Fees?

For UTP Level 1 real-time datafeed products, the access fees will be assessed to recipients as follows:

Access Fee Type Monthly Fee
UTP Direct Access $ 1,500
UTP Indirect Access $ 500

*UTP Annual Administration fee will be eliminated for Real-Time Data

Please refer to the NASDAQ OMX Global Data Price List for more details.

When does my organization need to start paying the fee?

UTP Level 1 monthly access fees will go into effect in the month of January 2012. Invoices for the January 2012 period will be sent on or about February 8, 2012, billed monthly thereafter. Delayed Annual Administration fees will not change and be charged in January 2012 for 2012, and continue to be billed annually on the first month of the year thereafter. Please refer to the NASDAQ OMX Global Data Price List for more details.

Are any new agreements necessary?

Provided that your firm has executed the NASDAQ Vendor Agreement for access to UTP Level 1 Services on a datafeed, no further action is required.

Who should I contact for additional information?