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Monday, April 21, 2014

Data Technical News #2014 - 13
NASDAQ OMX Introduces New NOM Fee Structure for Managed Data Solutions

Markets Impacted:

  • The NASDAQ Options Market

Products Impacted:

  • ITCH to Trade Options (ITTO)
  • Best of NASDAQ Options (BONO)

Contact Information:

What you need to know:

  • Effective April 1, 2014, The NASDAQ Options Market (NOM) introduced a new, optional price structure for Managed Data Solutions.
  • This program is available for the Best of NASDAQ Options (BONO) and ITCH to Trade Options (ITTO) data feed products used by client organizations for internal use only.

What are Managed Data Solutions?

In response to customer feedback and changes in the technical distribution of market data, NASDAQ OMX® is continuing to introduce the Managed Data Solution option for certain products (See NASDAQ OMX Global Data Policies document for current offerings). This is an option available to firms looking to simplify market data administration for their clients.

In this new fee structure, NASDAQ OMX allows a Distributor to report, and be fee liable for, a managed retransmission data feed under a Managed Data Solution fee schedule when the Subscriber or Recipient uses NASDAQ information internally in a non-display application, server, or similar service, and the Distributor controls the entitlements. The Distributor must report each Subscriber access to a Managed Data Solution directly to NASDAQ OMX.

Under the Managed Data Solution fee structure, Distributors may provide data feeds, Application Programming Interfaces (APIs) or similar automated delivery solutions to Managed Data Recipients with only limited entitlement controls. The Distributor maintains contracts with the Managed Data Recipients and is liable for any unauthorized usage. The Managed Data Recipients may use the information for internal non-display use only and may not distribute the information outside of their organization.

What is being announced?


Effective April 1, 2014, NASDAQ OMX introduced a Managed Data Solution for The NASDAQ Options MarketSM (NOM) data whereby the Distributor reports and pays on behalf of their Managed Data Solution Recipients. The eligible NOM data feeds are Best of NASDAQ Options (BONO) and ITCH to Trade Options (ITTO).

What are the new NOM fees for Managed Data Solutions?


The fees to be paid by distributors offering NOM Managed Data Solutions will be as follows:

Fee Schedule for Managed Data Solutions Monthly Fee
Managed Data Solution Administration Fee
(For the right to offer Managed Data Solutions to client organizations)		 $500 per Distributor
BONO Managed Data Solution Subscriber Fee $125 per Subscriber
ITTO Managed Data Solution Subscriber Fee $125 per Subscriber

At the subscriber level, distributors will pay the Managed Data Solution fees for NOM data.

At the distributor level, firms offering Managed Data Solution products will continue to be liable for the BONO and ITTO distributor fees associated with their receipt and distribution of the data. There are currently no distributor fees for recipients of Managed Data Solutions.

How does my firm become an approved distributor of Managed Data Solutions?

In order to offer a Managed Data Solution to clients, distributors must submit the required documentation and receive prior approval from NASDAQ OMX:

What are my firm's obligations as a distributor of Managed Data Solutions?

Please refer to page 20 of Global Data Policies.

What are my firm's obligations to become approved to receive a Managed Data Solution?

Managed Data Solution recipients must submit a Managed Data Solution System Application for approval by NASDAQ OMX. NASDAQ OMX will then communicate the approval of each client via email.

Where can I find additional pricing information?

The full price lists are accessible at the following links:

Where can I find additional Information?


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