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Nasdaq PHLX

PHLX Market Subscriber Fees
Market Coverage Subscriber Type Monthly Fee
Usage Fees
PHLX Market Data Feeds* Professional $40 per subscriber
Non-Professional $1 per subscriber
Enterprise License for Internal Non-display Usage $10,000 per Firm

*Both internal and external users are subject to PHLX monthly subscriber fees. The monthly subscriber fee should be reported once for PHLX, not once per datafeed.


PHLX Depth of Market
Entitlement Name Security Coverage Monthly Fee
Distributor Fees
PHLX Depth of Market Nasdaq PHLX Issues Internal: $4,000
External: $4,500

 

PHLX Orders
Entitlement Name Security Coverage Monthly Fee
Distributor Fees
PHLX Orders Nasdaq PHLX Issues Internal: $3,000
External: $3,500
Managed Data Solution Administration Fee*
$2,000 per Distributor
PHLX Managed Data Solution Subscriber Fee
$500 per subscriber

 

Top of PHLX Options (TOPO)
Entitlement Name Security Coverage Monthly Fee
Distributor Fees
Top of PHLX Options (TOPO) Nasdaq PHLX Issues Internal: $2,000
External: $2,500
Managed Data Solution Administration Fee*
$1,500 per Distributor
PHLX Managed Data Solution Subscriber Fee
$250 per subscriber

*For the right to offer Managed Data Solutions to client organizations

 

TOPO Plus PHLX Orders
Entitlement Name Security Coverage Monthly Fee
Distributor Fees
TOPO Plus PHLX Orders Nasdaq PHLX Issues Internal: $4,500
External: $5,000

 

Nasdaq Options Market

 

Nasdaq Options Market User Fees
Market Coverage User Type Monthly Fee
Usage Fees
Nasdaq Options Market Data Feeds* Professional $40 per user
Non-Professional $1 per user

*Both internal and external users are subject to Nasdaq Options monthly user fees. The monthly user fee should be reported once for Nasdaq Options, not once per datafeed.

Nasdaq ITCH-to-Trade Options (ITTO)
Entitlement Name Security Coverage Monthly Fee
Distributor Fees
ITTO - Internal Nasdaq Options $1,500 per firm
ITTO - External Nasdaq Options $2,000 per firm
Non-Display Enterprise License
(Internal Distribution Only)		 Nasdaq Options $10,000 per firm
Managed Data Solution Administration Fee* $500 per Distributor
NOM Managed Data Solution Subscriber Fee $125 per Subscriber
FPGA ITTO Distributor Fees
FPGA ITTO Internal Distributor $10,000 per distributor
External Distributor $1,000 per distributor
Internal and External Distributor $11,000 per distributor
Managed Data Solutions (MDS) Distributor 1 subscriber = $1,000
Additional Subscribers = $250 each

*For the right to offer Managed Data Solutions to client organizations

 

For Nasdaq real-time data feed products, the distributor fees are assessed on subscribers that receive Nasdaq information in a data feed format. This product is also covered by Nasdaq monthly administration fee(s). Refer to Nasdaq Data Policies for details.




Best of Nasdaq Options (BONO)
Entitlement Name Security Coverage Monthly Fee
Distributor Fees
BONO - Internal Nasdaq Options $1,500 per firm
BONO - External Nasdaq Options $2,000 per firm
Non-Display Enterprise License
(Internal Distribution Only)		 Nasdaq Options $10,000 per firm
Managed Data Solution Administration Fee* $500 per Distributor
NOM Managed Data Solution Subscriber Fee $125 per Subscriber

*For the right to offer Managed Data Solutions to client organizations

 

Nasdaq BX Options

 

BX Options Depth of Market (BX Depth)
Entitlement Name Security Coverage Monthly Fee
Distributor Fees*
BX Depth - Internal BX Options $1500 per firm
BX Depth - External BX Options $2000 per firm
Non-Display Enterprise License
(Internal Distribution Only)		 BX Options $2,500 per firm
Subscriber Fees
BX Depth BX Options Internal:
Professional - $10/subscriber

External:
Professional - $10/subscriber
Non-Professional - $1/subscriber

*One distributor fee will allow a subscriber access to both BX Depth and BX Top


BX Options Top of Market (BX Top)
Entitlement Name Security Coverage Monthly Fee
Distributor Fees*
BX Top - Internal BX Options $1500 per firm
BX Top - External BX Options $2000 per firm
Non-Display Enterprise License
(Internal Distribution Only)		 BX Options $2,500 per firm
Usage Fees
BX Top BX Options Internal:
Professional - $5/subscriber

External:
Professional - $5/subscriber
Non-Professional - $1/subscriber

*One distributor fee will allow a subscriber access to both BX Top and BX Depth

 

Nasdaq ISE

 

Nasdaq ISE Depth of Market
Entitlement Name Security Coverage Monthly Fee
Subscriber Fees
Nasdaq ISE Depth of Market Nasdaq ISE Internal:
Professional - $50/Subscriber
Non-Professional - $5/Subscriber
Distributor Fees
Nasdaq ISE Depth of Market Nasdaq ISE $5,000 per Distributor
Capped Fees
Nasdaq ISE Depth of Market Nasdaq ISE Internal - $7,500 per Distributor
Internal & External - $10,000 per Distributor (Controlled subscribers only)

Distribution to un-controlled subscriber(s) requires the recipient to become a Distributor of Nasdaq. Prior approval is required from Nasdaq.

Each distributor's fee for the first month after connection is established between Nasdaq ISE and distributor shall be $1,000. All Subscriber fees are waived for the first month after connection is established between Nasdaq ISE and distributor.


Nasdaq ISE Top Quote
Entitlement Name Security Coverage Monthly Fee
Subscriber Fees
Nasdaq ISE Top Quote Nasdaq ISE Professional - $20/Subscriber
Non-Professional - No fee
Distributor Fees
Nasdaq ISE Top Quote Nasdaq ISE $3,000 per Distributor
Capped Fees
Nasdaq ISE Top Quote Nasdaq ISE Internal - $4,000 per Distributor

Internal & External - $5,000 per Distributor (Controlled subscribers only)

Distribution to un-controlled subscriber(s) requires the recipient to become a Distributor of Nasdaq. Prior approval is required from Nasdaq.


Nasdaq ISE Order Feed
Entitlement Name Security Coverage Monthly Fee
Subscriber Fees
Nasdaq ISE Order Feed Nasdaq ISE Internal - No fee
External - $20/Subscriber
Distributor Fees
Nasdaq ISE Order Feed Nasdaq ISE $3,000 per Distributor
Capped Fees
Nasdaq ISE Order Feed Nasdaq ISE Internal & External - $5,000 per firm (Controlled subscribers only)

Distribution to un-controlled subscriber(s) requires the recipient to become a Distributor of Nasdaq. Prior approval is required from Nasdaq. Nasdaq ISE Order Feed does not differentiate price on a pro/non pro basis.

Nasdaq ISE Spread
Entitlement Name Security Coverage Monthly Fee
Subscriber Fees
Nasdaq ISE Spread Nasdaq ISE Professional - $25/Subscriber
Non-Professional - No fee
Distributor Fee
Nasdaq ISE Spread Nasdaq ISE $3,000 Distributor
Capped Fees
Nasdaq ISE Spread Nasdaq ISE Internal - $4,250 per Distributor
Internal & External - $5,500 per Distributor (Controlled subscribers only)

Distribution to un-controlled subscriber(s) requires the recipient to become a Distributor of Nasdaq. Prior approval is required from Nasdaq.


Nasdaq ISE Trade Feed
Entitlement Name Security Coverage Monthly Fee
Distributor Fees
Nasdaq ISE Trade Feed Nasdaq ISE Internal - $1,000 per Distributor
Nasdaq ISE Trade Feed Nasdaq ISE External - $1,000 per Distributor

Distribution to un-controlled subscriber(s) requires the recipient to become a Distributor of Nasdaq. Prior approval is required from Nasdaq.

 

Nasdaq GEMX

 

Nasdaq GEMX Depth of Market
Entitlement Name Security Coverage Monthly Fee
Subscriber Fees
Nasdaq GEMX Depth of Market Nasdaq GEMX Professional - $10/Subscriber
Non-Professional - $1/Subscriber
Distributor Fees
Nasdaq GEMX Depth of Market Nasdaq GEMX $1,500 per Distributor
Capped Fees
Nasdaq GEMX Depth of Market Nasdaq GEMX Internal - $2,000 per Distributor
Internal & External - $2,500 per Distributor (Controlled subscribers only)

Distribution to un-controlled subscriber(s) requires the recipient to become a Distributor of Nasdaq. Prior approval is required from Nasdaq.


Nasdaq GEMX Top Quote
Entitlement Name Security Coverage Monthly Fee
Subscriber Fees
Nasdaq GEMX Top Quote Nasdaq GEMX Professional - $5/Subscriber
Non-Professional - No fee
Distributor Fees
Nasdaq GEMX Top Quote Nasdaq GEMX $1,000 per Distributor
Capped Fees
Nasdaq GEMX Top Quote Nasdaq GEMX Internal - $1,250 per Distributor
Internal & External - $1,500 per Distributor (Controlled subscribers only)

Distribution to un-controlled subscriber(s) requires the recipient to become a Distributor of Nasdaq. Prior approval is required from Nasdaq.


Nasdaq GEMX Order Feed
Entitlement Name Security Coverage Monthly Fee
Subscriber Fees
Nasdaq GEMX Order Feed Nasdaq GEMX Internal - No fee
External - $5/Subscriber
Distributor Fees
Nasdaq GEMX Order Feed Nasdaq GEMX $750 per Distributor
Capped Fees
Nasdaq GEMX Order Feed Nasdaq GEMX Internal & External - $1,000 per Distributor (Controlled subscribers only)

Distribution to un-controlled subscriber(s) requires the recipient to become a Distributor of Nasdaq. Prior approval is required from Nasdaq. Nasdaq GEMX Order Feed does not differentiate price on a pro/non pro basis.


Nasdaq GEMX Trade Feed
Entitlement Name Security Coverage Monthly Fee
Distributor Fees
Nasdaq GEMX Trade Feed Nasdaq GEMX Internal - $500 per Distributor
Nasdaq GEMX Trade Feed Nasdaq GEMX External - $500 per Distributor

Distribution to un-controlled subscriber(s) require the recipient to become a Distributor of Nasdaq. Prior approval is required from Nasdaq.

 

Nasdaq MRX

 

Nasdaq MRX Depth of Market
Entitlement Name Security Coverage Monthly Fee
Nasdaq MRX Depth of Market Nasdaq MRX Fees are currently waived


Nasdaq MRX Top Quote
Entitlement Name Security Coverage Monthly Fee
Nasdaq MRX Top Quote Nasdaq MRX Fees are currently waived


Nasdaq MRX Order Feed
Entitlement Name Security Coverage Monthly Fee
Nasdaq MRX Order Feed Nasdaq MRX Fees are currently waived


Nasdaq MRX Spread Feed
Entitlement Name Security Coverage Monthly Fee
Nasdaq MRX Spread Feed Nasdaq MRX Fees are currently waived

Nasdaq Futures, Inc. (NFX)

Entitlement Name Security Coverage Monthly Fee
NFX Futures Nasdaq Futures Exchange Issues Fees are currently waived.

 

Nasdaq Web-Based Reports

Nasdaq PHLX Options Trade Outline (PHOTO)
Entitlement Name Market Coverage Monthly Fee
Distributor Fees
Nasdaq PHLX Options Trade Outline (PHOTO) PHLX Internal Distribution:
End-of-Day Subscription: $500
Intra-Day Subscription: $1,500
Historical End-of-Day: $400
Historical Intra-Day: $750
Nasdaq Options Trade Outline (NOTO)
Entitlement Name Market Coverage Monthly Fee
Distributor Fees
Nasdaq Options Trade Outline (NOTO) NOM Internal Distribution:
End-of-Day Subscription: $500
Intra-Day Subscription: $750
Historical End-of-Day: $250
Historical Intra-Day: $500
Nasdaq ISE Open/Close Trade Profile
Entitlement Name Market Coverage Monthly Fee
Distributor Fees
Nasdaq ISE Open/Close Trade Profile ISE Internal Distribution:
End-of-Day Subscription: $750
Intra-Day Subscription: $2,000
EOD & Intra-Day Subscription: $2,500
Historical End-of-Day: $600/month or $27,500 for Complete History
Historical Intra-Day: $1,000/Month or $2,000/Quarter or $8,000/Year
Nasdaq GEMX Open/Close Trade Profile
Entitlement Name Market Coverage Monthly Fee
Distributor Fees
Nasdaq GEMX Open/Close Trade Profile GEMX End-of-Day Subscription: $500
Intra-Day Subscription: $1,000
Historical End-of-Day: $400
Historical Intra-Day: $750
Nasdaq ISEE Select XML Data Feed
Entitlement Name Market Coverage Monthly Fee
Distributor Fees
Nasdaq ISEE Select XML Data Feed ISE

$0.10 per end user up to 10,000 end users on a monthly basis.


$0.10 per end user for redistribution to 10,001 to 74,999 end users on a monthly basis.


$0.084 per end user for redistribution to 75,000 to 199,999 end users (minimum increment of 5,000 end users).


$0.0825 per end user for redistribution to 200,000 or more end users (minimum increment of 5,000 end users).
Historical Nasdaq PHLX Orders*
Entitlement Name Market Coverage Monthly Fee
Distributor Fees
Historical Nasdaq PHLX Orders
 PHLX $500
Historical ITTO*
Entitlement Name Market Coverage Monthly Fee
Distributor Fees
Historical ITTO
 NOM Fees are currently waived

 

Monthly Annual Administration Fee

Nasdaq Administration Fees
Entitlement Name Usage Type Fee
Nasdaq Global Data Products —
Monthly Administration Fee		 Delayed Data Products $50 per month
Web-Based Products $100 per month
Real-Time Data Products $100 per month
Nasdaq Monthly License Fee
Entitlement Name Usage Type Fee
Nasdaq Managed Data Solutions License Fee
(For the right to offer Managed Data Solutions to Clients)		 Nasdaq Depth Products* $2,500 per month

*Includes Level 2, OpenView and TotalView

For Nasdaq real-time data feed products, the distributor fees are assessed on subscribers that receive Nasdaq information in a data feed format. This product is also covered by Nasdaq monthly administration fee(s). Refer to Nasdaq Data Policies for details.

The usage fees are assessed based on the number and type of subscribers that access Nasdaq market data. See the Nasdaq Data Policies for additional information. Please consult with your Nasdaq Global Information Services Account Manager to determine which fee option is best suited to your company's needs.

Historical Data Products are available on an annual basis. Distributors will be billed for the year on a monthly basis during the initial 12 month period. After the initial 12 months, firms may cancel at any time. Applies to: BX Historical TotalView-ITCH | PSX Historical TotalView-ITCH | PHLX Historical Orders | Nasdaq Historical TotalView-ITCH | Nasdaq Short Sale Volume Reports