Prior to initiation of service, all internal and external distributors must receive approval from The NASDAQ Stock Market for their market data product(s). Both real-time and delayed distributors of NASDAQ and/or UTP market data must execute and submit the appropriate distributor agreement(s) and system description to NASDAQ for review and approval.
In order to protect its intellectual property rights, NASDAQ requires any individual or firm that receives a data feed product or redistributes intra-day market data to execute the appropriate distributor agreement as described below.
Directions for Submission
Once completed, agreement packages must be submitted to NASDAQ for review at the following location:
The NASDAQ Stock Market, Inc.
Data Products Department
9600 Blackwell Road, 5th Floor
Rockville, MD 20850
Allow two weeks for the initial review of your application. Please note that NASDAQ requires that each distributor submit two hard copies of the agreements with an original signature for final approval. Facsimiles of agreements are not accepted.
Questions about NASDAQ Distributor Agreements should be directed to NASDAQ Market Data Distribution at (301) 978-5307 or MKTDATASVC@nasdaq.com
The distributor agreements and the system description are available in portable document format (PDF) for viewing and printing from this Web site. To view a PDF document, you must have access to an Adobe Acrobat Reader (version 3.0 or higher). To access the distributor agreements, click on a link below:
UTP Services Market Data
Internal Distribution of UTP Services Market Data
Data Feed Subscriber Agreement
External Distribution of UTP Services Market Data
Vendor Agreement for External Distribution
UTP Amendment to the Vendor Agreement
Delayed Amendment
System Descriptions
System Description
System Description Delayed Only
Per Query Application
Retransmission Data Feed Application
Data Feed Request Forms
Additional Data Feed Request Form
Termination of Data Feed Request Form
Description of UTP Market Data Agreements
Internal Distribution of UTP Services Market Data
- Data Feed Subscriber Agreement & Data Feed Control Questionnaire should be completed by distributors that receive a data feed product either directly from Nasdaq or via a market data distributor for use in internal systems only. Firms should complete this package only if they plan to restrict distribution of Nasdaq data exclusively to internal usage; to employees or authorized agents of their organization.
External Distribution of UTP Services Market Data
- Vendor Agreement for External Data Distribution should be completed by firms that distribute market data to external (third party) subscribers. The application packet includes the System Description.
- UTP Amendment should be completed by external distributors that receive the UTP Quotation Data Feed, the UTP Trade Report Data Feed and/or the OTC Montage Data Feed directly from Nasdaq. Firms must execute this Amendment in addition to the Vendor Agreement.
System Descriptions
- System Description should be completed by distributors that wish to update their current System Description on file at NASDAQ. Note: NASDAQ requires that your firm submit a separate system description for each entitlement system that controls market data.
- System Description Delayed Only should be completed by distributors that wish to distribute a delayed data feed. Note: NASDAQ requires that your firm submit a separate system description for each entitlement system that controls market data.
- Per Query Application should be completed by distributors that wish to distribute a UTP Level 1 data on a per quote basis. Note: NASDAQ real-time index data may no longer be included in per query systems, but is billable under a separate NASDAQ monthly fee.
- Retransmission Data Feed Application should be completed by distributors that wish to redistribute UTP information on an uncontrolled datafeed.
Data Feed Request Forms
- Additional Data Feed Request Form should be completed by distributors that have previously been approved to redistribute a datafeed, but wish to redistribute an additional/replacement Nasdaq datafeed. Please note, Nasdaq will accept both facsimile and email versions of this form.
- Termination of Data Feed Request Form should be completed by distributors that wish to terminate a datafeed and inform NASDAQ of this request to ensure that the billing is properly adjusted. Nasdaq will accept both facsimile and email versions of this form.
