Search:
   

Monday, October 21, 2024

Data News #2024 - 12
Nasdaq Announces Fee Changes Across SRO Markets

Markets Impacted:

Products Impacted:

Contact Information:

What you need to know:

Pending SEC approval, Nasdaq will adjust the fees of several Equities and Options data products for inflation beginning in January 2025.

UPDATED: The fee schedule for January 2025 now includes the fee for 2026 and 2027. Links provided below.

UPDATED October 1, 2025: 2026 Fees will go into effect January 1, 2026.

What is changing?

UPDATE: October 1, 2025

Effective January 1, 2025, Nasdaq will begin phasing in inflationary adjustments for specific products and services. Full implementation of these adjustments will be staged over three years to minimize customer impact.

As a reminder, as part of this staged approach, 2026 prices will go into effect on January 1, 2026. Please refer to the Equities Price List and Options Price List for 2026 rates.

UPDATED: These changes will re-benchmark the prices for specific Equities and Options products and services to August 2024 levels. The January 2025, 2026, 2027 fee schedules are available for US Equities here and US Options here.

What inflation index is Nasdaq using for these increases?

Nasdaq is benchmarking this price increase against the subset of the Producer Price Index (PPI) that is specific to "Data Processing." This is a conservative measure of inflation that provides an approximation for the specific inflation rate applicable to exchange data products. Over the last 10 years, the PPI has increased by 30% overall, while the Data Processing PPI is closer to 12%.

Why is Nasdaq implementing this change?

Inflation has impacted the prices of most goods substantially over the past decade, while many of Nasdaq’s market data fees have remained unchanged. During this time, Nasdaq has been continuously investing in its systems to provide industry-leading market data that delivers differentiated depth, accuracy, and accessibility.

When will the fees be effective?

To help clients adjust to these changes gradually, Nasdaq is proposing fee adjustments in stages. Fee adjustments will occur on each of the following dates:

  • Phase 1: January 1, 2025
  • Phase 2: January 1, 2026
  • Phase 3: January 1, 2027

This notice provides time for our customers to budget for price adjustments planned for January 1, 2026 and January 1, 2027.

What specific fees are being changed?

UPDATED: The following links provide the new fee schedules effective January 2025, January 2026 and January 2027:

Where can I find additional information?

Your Nasdaq account manager will be in contact with your firm regarding these changes. You may also find prices effective January 1, 2025, here on our website.


Email Alert Subscriptions:
Nasdaq offers customers the ability to self select news delivery across various Nasdaq markets. Create and maintain a profile for updating alert preferences and contact information. Visit the enrollment form on the Nasdaq Trader website and sign up today! Please note that if you choose to unsubscribe from an email list, you may no longer receive potentially critical emails from the NASDAQ Stock Market regarding Nasdaq's trading and data products, regulatory issues or marketplace initiatives. To unsubscribe, also click on the enrollment form

Please follow Nasdaq on Facebook RSS and Twitter.

Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.

View NASDAQTrader.com Mobile