The industry standard in connectivity.


Financial Information eXchange (FIX) is a vendor-neutral standard message protocol that defines an electronic message exchange for communicating securities transactions between two parties. FIX is a standard format used today by a majority of U.S. firms in the options securities business.

Nasdaq supports the FIX protocol version 4.2, 4.1 and 4.0.

Customers can use FIX to trade:

Features: Supported Messages

  • Order entry, modify, cancel for U.S. equity trading
  • Unsolicited messages (UM), including order status and execution reports

Trade Reporting

  • Trade action/update and contra
  • Clearing broker trade action
  • Trade correction
  • Unsolicited messages including sizable, blockbuster, break, exceed and fallback


  • Order entry, cancel and cancel/replace
  • Order confirm report
  • Cancel and cancel/replace confirmation report
  • Unsolicited messages of execution, cancel/reject and confirmation

Trading Options

  • Order entry, modify, cancel
  • Unsolicited messages (UM), including order status and execution reports


Connectivity Options

Who Can Participate

All Nasdaq market participants, including market makers, order-entry firms and ECNs can participate.

How to Subscribe

Nasdaq market participants can subscribe for new connectivity or update an existing service: by completing a port request form and faxing it to Nasdaq Subscriber Services at +1 212 231 5426.

Additional Resources



Firms must be certified before they can send FIX messages to Nasdaq.

Customers using INET FIX can test in production with test stocks.

  • Please call our Technical Support group at +1 212 231 5100 for complete details.

Technical Support

Contact Information