The Nasdaq Stock Market (Nasdaq) Membership

Nasdaq offers superior technology and trading efficiency for all U.S. equities. Nasdaq is an automatic execution venue that increases your speed of execution and provides unsurpassed capacity that ensures your quote updates and orders are processed nearly instantaneously.

How to Become a Nasdaq Member

FINRA, PHLX or BX Members:

Firms that are FINRA, PHLX or BX members may submit an abbreviated application form:

  1. Complete the Nasdaq Waive-In Membership Application and Agreement.
  2. Complete the Nasdaq Services Agreement, if not previously executed.
  3. Each application must be accompanied by a non-refundable check for $2000 made payable to The Nasdaq Stock Market.

Proprietary Trading Firms that are members of another Self-Regulatory Organization (SRO), but not FINRA, PHLX or BX:

A proprietary trading firm* that is a member of another registered national securities exchange must submit a full Nasdaq Membership Application and Agreement containing all of the Supplemental Information required under Nasdaq rules.

  1. Complete the Nasdaq Full Membership Application and Agreement. Consult Guidance for Submitting Supplemental Information for assistance in completing the application.
  2. Complete the Nasdaq Services Agreement.
  3. Complete the Written Supervisory Procedures Checklist.
  4. Each application must be accompanied by a non-refundable check for $2000 made payable to The Nasdaq Stock Market.

Completed application documents should be sent to:

Membership@nasdaq.com


Alternatively, send applications to:

Nasdaq Membership Department
1900 Market Street, 2nd Floor
Philadelphia, PA 19103-3584

* A “proprietary trading firm” is defined as an applicant:

  • That is not required to become a member of FINRA but is a member of another exchange
  • Whose source of funds used for trading is the applicant’s own capital, trading through the applicant’s own accounts
  • That does not and will not have “customers” and whose principals and representatives who are acting as traders are owners of employees of or contractors to the applicant.

This page was last updated February 2015.

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