What you need to know:

Post Trade Risk (PTR) is an optional service for clearing firms and executing brokers to monitor risk in real-time on the Nasdaq Exchanges, RASH, and FINRA/Nasdaq TRFs^1,2 and for clearing firms to apply market access controls on the FINRA/Nasdaq TRFs. The PTR service is currently available in WorkX; and starting May 14^th, 2026, Nasdaq is expanding the PTR service with new REST APIs that parallel the risk functionality within the WorkX^TM UI. Firms may use the new PTR APIs to complement the WorkX UI or use the new PTR APIs as a stand-alone interface without WorkX. Correspondent brokers should be aware that their counterparties will be able to access their real-time risk levels in relation to the set limits via the Risk APIs. Correspondents will be able to allow or deny (opt-out) risk data access to all counterparty relationships both within the WorkX UI and via API.

Which Post Trade Risk features will be available to use via an API?

Limit Settings – Clearing firms, correspondent firms, and counterparties with an AGU relationship will be able to see limit settings for clearing via API. Clearing firms will also be able to create or modify limit settings via an API. Correspondents will be able to allow or deny (opt-out) risk data access to all counterparty relationships both within the WorkX UI and via API.

Risk Monitoring – A Risk Aggregate API will let clearing firms, correspondents and counterparties see their trading partner’s real-time risk levels in relation to the set limits. Correspondents will be able to allow or deny (opt-out) risk data access to all counterparty relationships both within the WorkX UI and via API.

Trade Actions (Future PTR API release) - Clearing firms, correspondent firms, and counterparties with an AGU relationship will be able to access killed trades and held trades via PTR API. Clearing firms will be able to action (allow or inhibit) held trades via an API. Correspondents and counterparties will be able to resubmit killed or trades rejected by Post-Trade Risk via API. Nasdaq will publish a subsequent ETA when these PTR APIs are available.

How much do PTR APIs cost and how do I obtain access?

The PTR API services will be free to use and available for all PTR-enabled TRF participants, including clearing firms, correspondent firms, and their counterparties. Users may gain access to Post Trade Risk APIs via the WorkX API Request Form in Customer Portal. To find it from the Customer Portal home page, navigate to the Submit New Request search bar and search "WorkX PTR API Form". Users will be required to provide their MPID(s), User Type and Source IP range to access the API. Firms are required to provide Source IP for API whitelisting. If you don’t have access to Customer Portal, please contact Nasdaq Subscriber Services. For access to Post Trade Risk in WorkX, users may subscribe to a WorkX account via the WorkX Request form Note that standard WorkX fees will apply. Once you are approved for access, you will be sent an email with connectivity information and a link to the PTR API homepage, which is where you can access the APIs. This page also includes documentation on how to use each API.

How can I test these APIs?

Testing is currently available via the Nasdaq Test Facility (NTF) free of charge. To gain NTF access to the APIs, sign up in Customer Portal via the same form as production, except be sure to select “NTF” as the environment you want access to. Once you obtain access, you will receive an email with connectivity information and a link to the NTF PTR API homepage.

More Information

For more information regarding the Nasdaq Testing Facility (NTF), including billing and registration information, please refer to our NTF overview, FAQ, and pricing pages.

For technical questions regarding this product release, please contact Nasdaq Trading Services or TRF Ops at +1 212 231 5180.