The list of NASDAQ's approved market data fees appears below. Please note that these fees are subject to change at the discretion of The NASDAQ Stock Market or the UTP Plan. Please also note that these prices do not include vendor access or telecommunications charges.
Per query - distribute one real-time quote and/or trade message to a single user
$0.005/query2
Cable Television Ticker Pilot — display Level 1 information to subscriber households3 via cable television (not available for traditional broadcast television)
$2/1,000 for first 10 million households $1/1,000 for next 10 million households $0.50/1,000 for subsequent households
1Number of ports = maximum number of callers that simultaneously access the data 2Fee is per query, not per month 3Subscriber households are all households able to access the broadcast.
4TotalView fees include access to Level 2 (NQDS) data but exclude Level 1 data.
Distributor Fees
Service Level
Distributor Fee (Monthly)5
Direct Access - Allows access to TotalView data feed via an extranet
$2,000
Internal Distributor - Allows distributor to provide TotalView data to internal subscribers only.
$1,000
External Distributor — Allows distributor to provide TotalView data to internal subscribers as well as to all of its controlled subscribers. This includes end-user subscribers but does not include distribution to retransmission data feed subscribers.
$2,500
Enterprise License
Enterprise Fee (Monthly)6
TotalView Enterprise License - Permits distributor to provide TotalView to:
internal professional users, whether such users receive the data directly or through third-party data providers
external professional and non-professional users with whom the firm has a brokerage relationship
$100,000
TotalView Non-Professional Enterprise License - Permits distributor to provide TotalView to its external non-professional users with whom the firm has a brokerage relationship
$25,000
5Additional fees apply for each interrogation device authorized for TotalView data. 6Distributors purchasing an Enterprise License must also maintain payment of the applicable Distributor Fees. In addition, underlying Level I and Level 2 (NQDS) fees are not covered by the license.
Direct Access - Allows distributor to access the OpenView data feed via an extranet provider or direct connection to NASDAQ data center.
$1,000
Internal Distributor - Allows distributor to provide OpenView data to internal subscribers only.
$500
External Distributor - Allows distributor to provide OpenView data to internal subscribers as well as to all of its controlled subscribers. This includes end-user subscribers but does not include distribution to retransmission data feed subscribers.
Direct Access - Allows distributor to access the NASDAQ Index Dissemination Service (NIDS) data feed via an extranet provider or direct connection to NASDAQ data center
$500
Internal Distributor - Allows distributor to provide real-time NASDAQ index information to internal subscribers only
$50
External Distributor - Allows distributor to provide real-time NASDAQ index information to internal subscribers as well as to all of its controlled subscribers. This includes end-user subscribers but does not include distribution to retransmission data feed subscribers.
Direct Access - Allows distributor to access the MFDS data feed via an extranet provider or direct connection to NASDAQ data center
$500
Internal Distributor - At this time, NASDAQ does not charge a distributor fee for firm that provide MFDS to internal subscribers only
No charge
External Distributor- Allows distributor to provide MFDS information to internal subscribers as well as to all of its controlled subscribers. This includes end-user subscribers but does not include distribution to retransmission data feed subscribers.
ModelView - Allows distributor to access ModelView data via the NASDAQ Trader website. No additional usage fees apply for distribution to interrogation devices or data feed recipients.
