Advanced technology. Unmatched speed.


OUCH provides customers with a fast and highly efficient way to connect to Nasdaq, BX and PSX. This protocol allows subscribers to quickly enter orders into and receive executions. OUCH was developed with simplicity in mind — subscribers and their software developers can integrate Nasdaq into their proprietary trading systems or build custom front-ends to Nasdaq systems.

OUCH accepts limit orders from system subscribers, and if there is a matching order, they will execute. Non-matching orders are added to the Limit Order Book, a database of available limit orders, where they are matched in price-time priority. OUCH only provides a method for subscribers to send orders and receive status updates on those orders.

Supported Versions
5.0, 4.2, 4.1


Furthering our commitment to providing best of breed exchange technology, Nasdaq recently introduced Field Programmable Gate Array (“FPGA”) technology on the Nasdaq order entry port and gateway servers, including Dedicated OUCH. By taking advantage of hardware parallelism, FPGA technology is capable of processing more data packets during peak market conditions without the introduction of variable queuing latency resulting in more consistent, deterministic behavior.

Dedicated OUCH*

Dedicated OUCH is an innovative connectivity service providing customers with their own dedicated port server in the Nasdaq Data Center. In addition to the efficiency and high level of performance OUCH customers experience today, this unique offering provides a dedicated environment for customers' logical ports. With Dedicated OUCH, firms can develop a tailored trading solution for their firm by utilizing ports as they see fit across a server. Controlling ports and message traffic gives firms the ability to shift connectivity to optimize their trading strategies.

Firms can migrate existing OUCH ports and/or order new OUCH ports to subscribe to this service; however, a migration of an existing port will require a new port and IP address. Each server can house up to a maximum of 30 ports.

Due to the customized nature of this offering, availability is currently limited to a maximum of four servers.

Complete the Dedicated OUCH Request Form to order your servers. For more information, please contact Nasdaq Market Sales at +1 800 846 0477.

*Note Dedicated OUCH is currently only available on The Nasdaq Stock Market..

Benefits & Features

  • Efficiency and low-latency
  • High level of performance
  • Ease of use
  • Delivery of real-time execution information (DROP)

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.


Subscribers can access Nasdaq directly or through the use of a third-party extranet or front-end provider:


Technical Support

Contact Information