Rule of Interpretation: In compliance with Reg NMS Rule 610(d), effective February 2, 2026, for purposes of determining quoting or transaction volumes for fees and rebates qualifications under this section, all volume figures will be derived from quoting or trading activity in the prior month. Consequently, new members will receive the base rates in their first month of trading.
Port Fees
†
The following charges are assessed by the Exchange for ports to establish connectivity to the Nasdaq PSX
market, as well as ports to receive data from the Nasdaq PSX market:
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Port Type
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Production
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OUCH
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$400/port/month1
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FIX Trading Port (FIX and FIX Lite (FLITE))
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$400/port/month
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RASH
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$400/port/month
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CORE FIX
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$400/port/month
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OUCH Purge Port
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$500/port/month
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FIX Purge Port
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$500/port/month
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RASH Purge Port
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$500/port/month
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Port Type
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Production
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Multicast TotalView-ITCH (software-based)
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$1,000/port/month
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TCP ITCH data feed
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$400/port/month
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DROP
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$400/port/month
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Trading Ports used in Test Mode
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$100/port/month
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Data Retransmission Port
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No charge
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Disaster recovery port (OUCH, FIX Trading Port, CORE FIX, RASH, and DROP)
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$25/port/month
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Disaster recovery port (all other ports)
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No charge
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The maximum monthly fee assessed to a PSX Participant for the above listed Port Fees will be $30,000 per
month.
New PSX Participants will not be assessed the above listed Port Fees through December 31, 2018. A New PSX
Participant will be defined as a PSX Participant that was not a PSX Participant before September 1, 2017.
†
Fees are prorated for the first month of service under this section. Upon cancellation, participants are required to pay for service for the remainder of the month, regardless of whether it is the first month of service.
1Temporary 30-Day Fee Waiver for CORE FIX Ports. The Exchange shall offer users a 30-day waiver of the CORE FIX port fee for up to five newly added CORE FIX ports. This fee waiver shall be offered for a three-month period, beginning on October 10, 2022.
Order Execution and Routing
(a) The following charges and credits shall apply to the use of the order execution and routing services of
the Nasdaq PSX System by member organizations for all securities that it trades priced at $1 or more per
share:
(1) Fees for Execution of Quotes/Orders in Nasdaq-Listed Securities, Securities Listed on the New York Stock
Exchange ("NYSE") and Securities Listed on Exchanges other than Nasdaq and NYSE. As used in this rule, the
term "Consolidated Volume" shall mean the total consolidated volume reported to all consolidated transaction
reporting plans by all exchanges and trade reporting facilities during a month in equity securities,
excluding executed orders with a size of less than one round lot. For purposes of calculating Consolidated
Volume and the extent of a member's trading activity, the following shall be excluded from both total Consolidated Volume and the member’s trading activity: (1) the date of the annual reconstitution of the Russell
Investments Indexes; (2) the dates on which stock options, stock index options, and stock index futures expire (i.e., the third Friday of March, June, September, and December); (3) the dates of the rebalance of the MSCI Equities Indexes (i.e., on a quarterly basis); (4) the dates of the rebalance of the S&P 400, S&P 500, and S&P 600 Indexes (i.e., on a quarterly basis); and (5) the date of the annual reconstitution of the Nasdaq-100 and Nasdaq Biotechnology Indexes. For purposes of calculating a member’s qualifications for credits that pertain to providing liquidity set forth in this Section 3(a), the Exchange will calculate a member’s volume and total Consolidated Volume twice. First, the Exchange will calculate a member’s volume and total Consolidated Volume inclusive of volume that consists of executions in securities priced less than $1. Second, the Exchange will calculate a member’s volume and total Consolidated Volume exclusive of volume that consists of executions in securities priced less than $1, while also increasing the distinct qualifying volume percentage thresholds, as set forth in this Section 3(a), by 10%. The Exchange will then assess which of these two calculations would qualify the member for the most advantageous credits for the month and then it will apply those to the member.
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Charge to member organization entering order that executes in Nasdaq PSX:
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$0.0030 per share executed
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Credit to member organization providing liquidity through the Nasdaq PSX System:
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Displayed Quote/Order:
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$0.0033 per share executed for Quotes/Orders entered by a member organization that provides 0.15% or more of total Consolidated Volume during the month |
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$0.0032 per share executed for Quotes/Orders entered by a member organization that provides 0.07% or more of total Consolidated Volume during the month
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$0.0030 per share executed for Quotes/Orders entered by a member organization that provides 0.05% or more of total Consolidated Volume during the month
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$0.0020 per share executed for all other Quotes/Orders
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Non-Displayed Order Charges and Credits:
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$0.0025 per share executed credit for orders with midpoint pegging that provide liquidity of at least 1 million shares ADV during the month
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$0.0018 per share executed credit for all other orders with midpoint pegging that provide liquidity |
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$0.0015 per share executed credit for orders entered by a member organization that provides 0.01% or more of total Consolidated Volume during the month through non-displayed orders (other than midpoint orders) that provide liquidity
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$0.0005 per share executed credit for other non-displayed orders that provide liquidity
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Supplemental credit to member organization providing liquidity through the Nasdaq PSX System:
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Displayed Quote/Order:
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$0.00005 per share executed for Quotes/Orders entered by a member organization that: (i) provides 0.10% or more of total Consolidated Volume during the prior month; and (ii) provides 0.10% or more of total Consolidated Volume during the month |
(2) Fees for Routing of Orders in All Securities
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Charge to member organization entering PSTG or PSCN order that executes in a venue other than
the Nasdaq PSX System:
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$0.0030 per share executed at NYSE
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$0.0000 per share executed at Nasdaq BX
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$0.0030 per share executed in other venues
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Charge to member organization entering PMOP order that executes in a venue other than the
Nasdaq PSX System:
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$0.0035 per share executed at NYSE
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$0.0035 per share executed at venues other than NYSE
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Charge to member organization entering PTFY order that executes in a venue other than the
Nasdaq PSX System:
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$0.0030 per share executed at NYSE
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$0.0007 per share executed at venues other than NYSE, Nasdaq or Nasdaq BX
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$0.0030 per share executed at Nasdaq
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$0.0000 per share executed at Nasdaq BX
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Charge to member organization entering PCRT order that executes in a venue other than the
Nasdaq PSX System:
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$0.0030 per share executed at Nasdaq
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$0.0000 per share executed at Nasdaq BX
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Charge to member organization entering XDRK order that executes in a venue other than the
Nasdaq PSX System:
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$0.0007 per share executed
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Charge to member organization entering XCST order that executes in a venue other than the
Nasdaq PSX System:
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$0.0000 per share executed at Nasdaq BX
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$0.0007 per share for shares executed at a venue other than Nasdaq BX
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Charge or credit to member organization entering SCAR order that executes in a venue other
than the Nasdaq PSX System:
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Charge of $0.00295 per share for orders executed at Nasdaq
Credit of $0.0016 per share for orders executed at Nasdaq BX in securities in Tapes A
and C
Credit of $0.0016 per share for orders executed at Nasdaq BX in Tape B securities
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(b) The following charges and credits shall apply to the use of the order execution and routing services of
the Nasdaq PSX System by member organizations for all securities that it trades priced at less than $1 per
share:
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Charge to member organization entering order that executes in Nasdaq PSX:
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0.30% of the total transaction cost
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Credit to member organization providing liquidity through the Nasdaq PSX System:
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$0
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Charge to member organization entering order that executes in a venue other than the Nasdaq
PSX System:
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0.3% of the total transaction cost
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(c) Reserved.
(d) Reserved.
(e) For purposes of all Consolidated Volume and ADV calculations under this Section for the month of December 2023, Nasdaq PSX will exclude December 13, 2023, if doing so will allow a member to achieve more favorable pricing under the rule.
Testing Facilities
The Exchange operates a test environment located in Carteret, New Jersey.
(a) Subscribers that conduct tests of their PSX access protocols connection or market data vendor feeds
through the Exchange's Testing Facility (Testing Facility) shall pay $300 per port, per month1.*
*Waived for OUCH, FIX and RASH Purge Ports for the first two calendar months from the start date of the Test Facility port.
(b) Subscribers to the Testing Facility shall pay a fee of $1,100 per hand-off, per month for connection to
the Testing Facility. The hand-off fee includes either a 1Gb or 10Gb switch port and a cross connect to the
Testing Facility. Subscribers shall also pay a onetime installation fee of $1,100 per hand-off.
The connectivity provided under this rule also provides connectivity to the other test environments of The
Nasdaq Stock Market LLC, Nasdaq BX, Inc., Nasdaq ISE, LLC, Nasdaq MRX, LLC, and Nasdaq GEMX, LLC.
1Temporary 30-Day Fee Waiver for CORE FIX Testing Facility Ports. The Exchange shall offer subscribers a 30-day waiver of the $300 Testing Facility fee in this paragraph (a) for up to five newly added CORE FIX Testing Facility ports. This fee waiver shall be offered for a three-month period, beginning on September 22, 2022.
TradeInfo PSX
• TradeInfo PSX is available to PSX Participants for
a fee of $95 per user per month.
Weblink ACT PSX
• Weblink ACT PSX is available to PSX Participants
free of charge.
PSX Managed Data Solutions Fees.
(a) Distributors and Subscribers of Managed Data Solutions products containing PSX TotalView data
(non-display use only) shall pay the following fees:
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Fee schedule for Managed Data Solutions
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Price
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Managed Data Solutions Administration Fee (for the right to offer Managed Data Solutions to
client organizations)
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$1,590 (op. 1/1/25; $1,660 (op. 1/1/26); $1,686 (op. 1/1/27)/mo. Per Distributor
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PSX Depth Data Professional Managed Data Solutions Subscriber Fee (Internal Use Only
and includes PSX TotalView)
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$159 (op. 1/1/25); $166 (op. 1/1/26);
$168 (op. 1/1/27)/mo. Per Subscriber
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PSX Depth Data Managed Data Solutions Non-Professional Subscriber Fee (Internal Use
Only and includes PSX TotalView)
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$20/mo. Per Subscriber
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Fees are per month for all or any portion of the month in which the MDS products are accessed
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(b) For purposes of PSX Managed Data Solutions fees, the terms "Non-Professional", "Distributor",
"Subscriber", and "PSX TotalView" shall have the same meaning as set forth in this Equity 7, Section 3 of
the PSX Pricing Schedule.
Market Data Distributor Fees
(a) The charge to be paid by Distributors of the following real time data feeds of the Exchange shall be:
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Monthly Direct Access Fee
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Monthly Internal Distributor Fee
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Monthly External Distributor Fee
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PSX TotalView
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$ 1,060 (op. 1/1/25); $1,110
(op. 1/1/26); $1,137
(op. 1/1/27)
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$ 532
(op. 1/1/25);
$557 (op. 1/1/26); $568 (op. 1/1/27)
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$ 1,330 (op. 1/1/25); $1,390
(op. 1/1/26); $1,421
(op. 1/1/27)
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(b) A "distributor" of Exchange data is any entity that receives a feed or data file of Exchange data
directly from the Exchange or indirectly through another entity and then distributes it either internally
(within that entity) or externally (outside that entity). All distributors shall execute an Exchange
distributor agreement. The Exchange itself is a vendor of its data feed(s) and has executed an Exchange
distributor agreement and pays the distributor charge.
(c) "Direct Access" means a telecommunications interface with the Exchange for receiving Exchange data, or
receiving an Exchange data feed within the Exchange co-location facility, or receiving Exchange data via an
extranet access provider.
Access and Redistribution Fee
(a) Definitions: For purposes of this Equity 7, Section 3:
(1) The term "Equipment Configuration" shall mean
any line, circuit, router package, or other technical configuration used to provide a connection to the
Exchange market data feeds.
(2) The term "Extranet Provider" shall mean any
entity that has signed the Nasdaq Extranet Connection Agreement and that establishes a telecommunications
connection in the Exchange's co-location facility.
(3) The term "Distributor" shall have the meaning
set forth in Options 7, Section 10 of the Pricing Schedule.
(4) The term “Hardware-Based Delivery” means that a distributor is processing data sourced from a hardware-coded market data format such as field-programmable gate array (“FPGA”) technology.
(b) Extranet Providers that establish a connection with the Exchange to offer direct access connectivity to
market data feeds shall be assessed a monthly access and redistribution fee of $1,000 per Equipment
Configuration. If an Extranet Provider uses multiple Equipment Configurations to provide market data feeds
to recipients, the access and redistribution fee shall apply to each such Equipment Configuration. Extranet
Providers that use the same Equipment Configuration for the receipt of equities and options Exchange market
data feeds will be assessed a single fee for that Equipment Configuration.
(c) Distributors (other than Extranet Providers) that utilize a Direct Circuit Connection to the Exchange
pursuant to General 8, Section 2 to receive Exchange market data feeds shall be assessed a monthly access
and redistribution fee of $1,000 per Direct Circuit Connection. If a Distributor (other than an Extranet
Provider) uses multiple Direct Circuit Connections to receive market data feeds, the monthly fee shall apply
to each. Distributors that use the same Direct Circuit Connection for the receipt of equities and options
Exchange market data feeds will be assessed a single fee for that Direct Circuit Connection.
(d) The access and redistribution fees set forth above will not be charged for connectivity to market data
feeds containing only consolidated data. For purposes of this rule, consolidated data includes data
disseminated by the Securities Information Processor for the Consolidated Tape Association Plan.
(e) Hardware-Based Delivery of PSX TotalView. The charges to be paid by Distributors for processing PSX TotalView using hardware-based delivery technology shall be:
| Hardware-Based Delivery | Monthly Fee |
| Internal Only Distributor | $3,500 Per Distributor |
| External Only Distributor | $350 Per Distributor |
| Internal and External Distributor | $3,850 Per Distributor |
(f) Distributors of PSX TotalView also are subject to the market data fees set forth in this Section under Market Data Distributor Fees and PSX TotalView.
Administrative Reports
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Administrative Reports
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$25 per user, per month
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Monthly Administrative Fee
The Monthly Administrative Fee shall be assessed to market data distributors that receive any proprietary
Exchange data feed product. Each such distributor shall, on a monthly basis, be assessed the higher of the
applicable Monthly Administrative Fees:
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Delayed distributor
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$50
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Real-Time distributor (includes delayed fee, if applicable)
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$100
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The Exchange may waive the foregoing fee for colleges and universities for devices used by students and
professors in performing university or college research or classroom-related activities.
PSX TotalView
(a) PSX TotalView Entitlement
The PSX TotalView entitlement allows a subscriber to see all individual Nasdaq PSX participant orders
displayed in Nasdaq PSX, the aggregate size of such orders at each price level, and the trade data for
executions that occur within Nasdaq PSX.
(1) Except as provided elsewhere in this rule, for the PSX TotalView entitlement there will be a $42.50 (op. 1/1/25); $44.50 (op. 1/1/26); $45.50 (op. 1/1/27) monthly
charge for each Subscriber for display usage or for nondisplay usage not based upon Direct Access.
(2) Distributors shall pay a monthly fee of $52.00 (op. 1/1/25); $53.50 (op. 1/1/26); $54.00 (op. 1/1/27) for each Professional Subscriber for nondisplay usage of PSX
TotalView based upon Direct Access.
(3) As an alternative to (a)(2), a market participant may purchase an enterprise license at a rate of $17,670 (op. 1/1/25); $18,190 (op. 1/1/26); $18,485 (op. 1/1/27)
per month for internal use of non-display data, based upon Direct Access. The enterprise license entitles a
distributor to provide PSX TotalView to an unlimited number of non-display devices within its firm.
(b) Non-Professional Services
(1) The charge to be paid by non-professional Subscribers for access to PSX TotalView Service through an
authorized vendor shall be $1.00 per Subscriber per month.
(2) A "non-professional" is a natural person who is neither:
(A) registered or qualified in any capacity with the
Commission, the Commodities Futures Trading Commission, any state securities agency, any securities exchange
or association, or any commodities or futures contract market or association;
(B) engaged as an "investment adviser" as that term
is defined in Section 202(a)(11) of the Investment Advisors Act of 1940 (whether or not registered or
qualified under that Act); nor
(C) employed by a bank or other organization exempt
from registration under federal or state securities laws to perform functions that would require
registration or qualification if such functions were performed for an organization not so exempt.
(c) Free-Trial Offers
(1) For the period ending on the last day of the twelfth full calendar month following the launch of Nasdaq
PSX, the Exchange will waive Subscriber fees, enterprise license fees, Direct Access fees, and Distributor
fees (but not the Annual Administrative fee) for PSX TotalView.
(2) After the period of one year from the launch of Nasdaq PSX, the Exchange will allow distributors to
provide PSX TotalView to new Subscribers receiving PSX TotalView for the first time free of charge for an
individual one-month trial period. This fee waiver will be applied to the first full month of charges
following the date on which a new individual Subscriber or potential individual Subscriber is first entitled
by a distributor to receive access to PSX TotalView. A distributor may only provide this waiver to a
specific individual Subscriber once. For the period of any waiver, the PSX TotalView fees of $40 or $50 per
Subscriber per month, as applicable, (professional) or $1 per Subscriber per month (non-professional) will
be waived.
In addition, a market participant opting to receive an enterprise license at a rate of $17,000 per month will
have that fee waived for the first full month of charges following the date on which the market participant
first receives access to PSX TotalView.
(d) A "Subscriber" is any access that a distributor of the data entitlement package(s) provides to: (1)
access the information in the data entitlement package(s); or (2) communicate with the distributor so as to
cause the distributor to access the information in the data entitlement package(s). If a Subscriber is part
of an electronic network between computers used for investment, trading or order routing activities, the
burden shall be on the distributor to demonstrate that the particular Subscriber should not have to pay for
an entitlement. For example, in some display systems the distributor gives the Subscriber a choice to see
the data or not; a Subscriber that chooses not to see the data would not be charged. Similarly, in a
non-display system, Subscribers may have a choice of basic or advanced computerized trading or order routing
services, where only the advanced version uses the information. Subscribers of the basic service then would
be excluded from the entitlement requirement.
Aggregation of Activity of Affiliated Member Organizations
(a) For purposes of applying any PSX charge or credit where the charge assessed, or credit provided, by the
Exchange depends upon the volume of a member organization's activity, a member organization may request that
the Exchange aggregate its activity with the activity of its affiliates.
(1) A member organization requesting aggregation of
affiliate activity shall be required to certify to the Exchange the affiliate status of entities whose
activity it seeks to aggregate prior to receiving approval for aggregation, and shall be required to inform
the Exchange immediately of any event that causes an entity to cease to be an affiliate. The Exchange shall
review available information regarding the entities, and reserves the right to request additional
information to verify the affiliate status of an entity. The Exchange shall approve a request unless it
determines that the certification is not accurate.
(2) If two or more member organizations become
affiliated on or prior to the sixteenth day of a month, and submit the required request for aggregation on
or prior to the twenty-second day of the month, an approval of the request by the Exchange shall be deemed
to be effective as of the first day of that month. If two or more members become affiliated after the
sixteenth day of a month, or submit a request for aggregation after the twenty-second day of the month, an
approval of the request by the Exchange shall be deemed to be effective as of the first day of the next
calendar month.
(b) For purposes of applying any PSX charge or credit where the charge assessed, or credit provided, by the
Exchange depends upon the volume of a member organization's activity, references to an entity (including
references to a "member organization" or a "participant") shall be deemed to include the entity and its
affiliates that have been approved for aggregation.
(c) For purposes of this provision, the term "affiliate" of a member organization shall mean any member
organization under 75% common ownership or control of that member organization.
Installation, Removal or Relocation
Upon installation, removal, relocation of terminal and related equipment, or combination thereof, the
subscriber shall pay charges incurred by the Exchange, on behalf of the subscriber for the work being
performed by the maintenance organization retained by the Exchange.
Other Requests for Data
The Exchange may impose and collect compensatory charges for data the Exchange supplied upon request, where
there is no provision elsewhere in the Pricing Schedule for charges for such service or sale.
Partial Month Charges
Distributors may elect to have the charges for the month of commencement or termination of service be billed
on a full month basis or prorated based on the number of trade days in that month.
PSX Last Sale and Nasdaq Last Sale Plus Data Feeds
(a) PSX Last Sale. The Exchange shall offer proprietary data feeds containing real-time last sale information
for trades executed on the Exchange. There shall be no fee for PSX Last Sale Data Feeds.
(1) "PSX Last Sale for Nasdaq" shall contain all
transaction reports for Nasdaq-listed securities; and
(2) "PSX Last Sale for NYSE/NYSEAmex" shall contain
all such transaction reports for securities listed on NYSE, NYSE Amex, and other exchanges.
(b) Nasdaq Last Sale Plus ("NLS Plus"). NLS Plus is a comprehensive data feed produced by Nasdaq Information
LLC. It provides last sale data from the Nasdaq U.S. equity markets (PSX, The
Nasdaq Stock Market ("Nasdaq"), and Nasdaq BX ("BX")) and the FINRA/Nasdaq Trade Reporting Facility ("TRF").
NLS Plus also reflects cumulative volume real-time trading activity across all U.S. exchanges for Tape A, B, and C
securities.
NLS Plus also contains the following data from the Nasdaq U.S. equity markets: Trade Price, Trade Size, Sale Condition Modifiers, Adjusted Closing Price, IPO Information, and Bloomberg ID. Additionally,
pertinent regulatory information such as Market Wide Circuit Breaker, Reg SHO Short Sale Price Test
Restricted Indicator, Trading Action, and Symbol Directory are included. In addition, Nasdaq Last Sale Plus provides a consolidated end of day trade summary for Tape A, B and C securities. NLS Plus may be received by itself
or in combination with Nasdaq Basic.
(1) Firms that receive NLS Plus shall pay the
monthly administrative fees for NLS, BX Last Sale, and PSX Last Sale. Additionally, Internal Distributors or
External Distributors shall pay a data consolidation fee of $350 per month. "Internal Distributors" are
Distributors that receive NLS Plus data and then distribute that data to one or more Subscribers within the
Distributor's own entity. "External Distributors" are Distributors that receive NLS Plus data and then
distribute that data to one or more Subscribers outside the Distributor's own entity.
(2) Firms that receive NLS Plus would either be
liable for NLS fees or Nasdaq Basic fees.
(3) In the event that Nasdaq BX and/or Nasdaq PHLX
adopt user fees for BX Last Sale and/or PSX Last Sale, firms that receive NLS Plus would also be liable for
such fees.
(4) Firms that purchase a market data enterprise
license for display usage under Equity 7, Section 132 of the Nasdaq Rulebook shall not pay monthly administrative fees for NLS, BX Last
Sale and PSX Last Sale, a data consolidation fee for Internal or External Distributors, or user fees for BX
Last Sale and/or PSX Last Sale, in the event that such fees are adopted.
PSX BBO Feeds
The Exchange shall offer proprietary data feeds containing real-time market information from PSX. There shall
be no fee for PSX BBO Feeds.
(a) "PSX BBO for Nasdaq" shall
contain PSX's best bid and offer for Nasdaq-listed securities;
(b) "PSX BBO for NYSE" shall
contain PSX's best bid and offer for NYSE-listed securities; and
(c) "PSX BBO for NYSE Amex"
shall contain PSX's best bid and offer for NYSE Amex-listed securities.
PSX Ouch BBO Feed
The Exchange shall offer a proprietary data feed containing real-time information concerning the Exchange's
internal view of the national best bid and offer at that time, containing the expected bid price and ask
price for each security traded on PSX. There shall be no fee for the PSX Ouch BBO Feed.
PSX Trading and Compliance Data Package
PSX Participants shall be entitled to receive the PSX Trading and Compliance Data Package via
NasdaqTrader.com. The PSX Trading and Compliance Data Package provides historical data reports containing
trading reporting information about the Participant's own activity in PSX, for delivery on an end-of-day or
T+1 basis.
The Exchange may modify the contents of the PSX Trading and Compliance Data Package from time to time based
on subscriber interest. There shall be no fee for the PSX Trading and Compliance Data Package.
QView
QView is a web-based tool designed to give a subscribing member the ability to track its order flow on PSX,
and create both real-time and historical reports of such order flow. Members may subscribe to QView for a
fee of $100 per month, per member firm.
Short Sale Monitor
(a) The Short Sale Monitor is a real-time surveillance and alert tool that assists member firms with
monitoring and post trade analysis of their short sale and short sale exempt trades reported to the
FINRA/Nasdaq Trade Reporting Facility (TRF), which includes real-time alerts of covered securities subject
to the restrictions of SEC Rule 201, reports of a member firm's trades marked as "short" that are subject to
the restrictions of SEC Rule 201, and reports of a member firm's trades marked as "short exempt."
The Short Sale Monitor is available to each member firm at no cost for a trial period ending March 31, 2011,
and for a fee of $750 per MPID, per month thereafter.
(b) The PSX Data Add-On service provides an MPID subscribed to the Short Sale Monitor subscription with a
record of trades in covered securities executed on PSX that are marked "short exempt." The PSX Data Add-On
service is available at no cost for a trial period ending March 31, 2011, and for a fee of $50 per MPID, per
month. An MPID subscribed to the Short Sale Monitor of Nasdaq or Nasdaq BX need not subscribe additionally
to the PSX Short Sale Monitor to subscribe to the PSX Data Add-On service.
PSX Pre-Trade Risk Management
(a) Users of PSX Pre-trade Risk Management ("PRM") will be assessed a monthly fee based on the following
table, and such fees will not exceed $25,000 per member firm, per month:
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Port Tiers
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Number of PRM-Enabled Ports
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Monthly Fee
|
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Tier 1
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50 or more
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$400 per port, per month
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Tier 2
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20 to 49
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$500 per port, per month
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Tier 3
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5 to 19
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$550 per port, per month
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Tier 4
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1 to 4
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$600 per port, per month
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(b) Users of PRM services specified below will be assessed the following charges in addition to the
applicable PRM-enabled port charges:
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PRM Modules
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No charge
|
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Aggregate Total Checks
|
No charge
|
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PRM Workstation Add-ons to an existing Workstation or WeblinkACT 2.0
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$100 per each PRM Workstation Add-on per month
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Amended Feb. 27, 2012 (SR-Phlx-2012-25), operative Mar. 1, 2012; amended Apr. 26, 2012 (SR-Phlx-2012-56),
operative May 1, 2012; amended May 11, 2012 (SR-Phlx-2012-64), operative June 1, 2012; amended May 24, 2012
(SR-Phlx-2012-72), operative July 2, 2012; amended June 25, 2012 (SR-Phlx-2012-85), operative July 2, 2012;
amended June 27, 2012 (SR-Phlx-2012-87), operative July 2, 2012; amended July 31, 2012 (SR-Phlx-2012-102),
operative Aug. 1, 2012; amended Sep. 21, 2012 (SR-Phlx-2012-114); amended Oct. 1, 2012 (SR-Phlx-2012-119);
amended Oct. 9, 2012 (SR-Phlx-2012-123), operative Oct. 15, 2012; amended Feb. 27, 2013 (SR-Phlx-2013-19);
amended Mar. 13, 2013 (SR-Phlx-2013-28); amended May 3, 2013 (SR-Phlx-2013-51); amended May 31, 2013
(SR-Phlx-2013-60), operative Jun. 3, 2013; amended June 25, 2013 (SR-Phlx-2013-70), operative July 1, 2013;
amended July 26, 2013 (SR-Phlx-2013-80), operative Aug. 1, 2013; amended Sep. 10, 2013 (SR-Phlx-2013-93);
amended Oct. 31, 2013 (SR-Phlx-2013-111), operative Nov. 1, 2013; amended Nov. 27, 2013 (SR-Phlx-2013-116);
amended Jan. 2, 2014 (SR-Phlx-2014-01); amended Dec. 23, 2013 (SR-Phlx-2013-128); amended Jan. 31, 2014
(SR-Phlx-2014-09), operative Feb. 3, 2014; amended June 27, 2014 (SR-Phlx-2014-43), operative July 1, 2014.
amended June 23, 2014 (SR-Phlx-2014-40), operative July 23, 2014; amended Aug. 20, 2014 (SR-Phlx-2014-56),
operative Dec. 1, 2014; amended Aug. 20, 2014 (SR-Phlx-2014-57), operative Dec. 1, 2014; amended Sep. 5,
2014 (SR-Phlx-2014-60), operative Sep. 2, 2014; amended Oct. 24, 2014 (SR-Phlx-2014-70), operative Nov. 3,
2014; amended Nov. 12, 2014 (SR-Phlx-2014-74); amended Dec. 23, 2014 (SR-Phlx-2014-81), operative Jan. 2,
2015; amended Jan. 16, 2015 (SR-Phlx-2015-08); amended Feb. 3, 2015 (SR-Phlx-2015-14), operative Feb. 2,
2015; amended May 18, 2015 (SR-Phlx-2015-45), operative May 1, 2015; amended June 1, 2015 (SR-Phlx-2015-48);
amended June 30, 2015 (SR-Phlx-2015-58), operative July 1, 2015; amended Aug. 18, 2015 (SR-Phlx-2015-72);
amended Aug. 28, 2015 (SR-Phlx-2015-76); amended Sep. 1, 2015 (SR-Phlx-2015-78); amended Oct. 27, 2015
(SR-Phlx-2015-87); operative Oct. 16, 2015; amended Nov. 30, 2015 (SR-Phlx-2015-98), operative Dec. 1, 2015;
amended Dec. 17, 2015 (SR-Phlx-2015-110); amended Dec. 18, 2015 (SR-Phlx-2015-112), operative Jan. 1, 2016;
amended Dec. 29, 2015 (SR-Phlx-2015-115); amended Feb. 23, 2016 (SR-Phlx-2016-31), operative Feb. 1, 2016;
amended Feb. 26, 2016 (SR-Phlx-2016-30); amended May 31, 2016 (SR-Phlx-2016-64), operative June 1, 2016;
amended Aug. 12, 2016 (SR-Phlx-2016-85), operative Aug. 1, 2016; amended Aug. 31, 2016 (SR-Phlx-2016-91);
amended Dec. 14, 2016 (SR-Phlx-2016-122), operative Jan. 1, 2017; amended Feb. 15, 2017 (SR-Phlx-2017-17);
amended Apr. 3, 2017 (SR-Phlx-2017-28); amended Apr. 10, 2017 (SR-Phlx-2017-31); amended June 1, 2017
(SR-Phlx-2017-44); amended Sept. 29, 2017 (SR-Phlx-2017-76); amended Oct. 2, 2017 (SR-Phlx-2017-77); amended
Oct. 2, 2017 (SR-Phlx-2017-78); amended Oct. 12, 2017 (SR-Phlx-2017-80); amended Oct. 18, 2017
(SR-Phlx-2017-82); amended Oct. 25, 2017 (SR-Phlx-2017-84); amended Nov. 1, 2017 (SR-Phlx-2017-90); amended
Nov. 29, 2017 (SR-Phlx-2017-100), operative Dec. 1, 2017; amended Dec. 20, 2017 (SR-Phlx-2017-106),
operative Jan. 1, 2018; amended Jan. 3, 2018 (SR-Phlx-2018-04); amended Jan. 16, 2018 (SR-Phlx-2018-10);
amended Mar. 1, 2018 (SR-Phlx-2018-21); amended Mar. 27, 2018 (SR-Phlx-2018-26); amended June 5, 2018
(SR-Phlx-2018-46); amended July 3, 2018 (SR-Phlx-2018-51); amended July 17, 2018 (SR-Phlx-2018-52); amended
July 27, 2018 (SR-Phlx-2018-53); amended October 18, 2018 (SR-Phlx-2018-66); amended Dec. 20, 2018
(SR-Phlx-2018-83), operative Jan. 2, 2019; amended May 1, 2019 (SR-Phlx-2019-19); amended May 13, 2019
(SR-Phlx-2019-21); amended May 22, 2019 (SR-Phlx-2019-23); amended July 25, 2019 (SR-Phlx-2019-27),
operative Aug. 1, 2019; amended Aug. 28, 2019 (SR-Phlx-2019-31); amended Sept. 3, 2019 (SR-Phlx-2019-32);
amended Sept. 12, 2019 (SR-Phlx-2019-35); amended Sept. 13, 2019 (SR-Phlx-2019-36); amended April 1, 2020
(SR-Phlx-2020-18); amended April 8, 2020 (SR-Phlx-2020-23); amended April 14, 2020 (SR-Phlx-2020-25); amended July 1, 2020 (SR-Phlx-2020-34); amended July 9, 2020 (SR-Phlx-2020-36); amended Sep. 1, 2020 (SR-Phlx-2020-43); amended Sep. 10, 2020 (SR-Phlx-2020-45); amended Oct. 23, 2020 (SR-Phlx-2020-49); amended Oct. 26, 2020 (SR-Phlx-2020-50); amended January 4, 2021 (SR-Phlx-2021-01); amended Feb. 1, 2021 (SR-Phlx-2021-06); amended Feb. 10, 2021 (SR-Phlx-2021-09); amended May 12, 2021 (SR-Phlx-2021-31); amended March 19, 2021 (SR-Phlx-2021-17), operative May 17, 2021; amended June 11, 2021 (SR-Phlx-2021-37); amended Aug. 2, 2021 (SR-Phlx-2021-44); amended Aug. 12, 2021 (SR-Phlx-2021-47); amended Sep. 1, 2021 (SR-Phlx-2021-50); amended Sep. 13, 2021 (SR-Phlx-2021-55); amended October 1, 2021 (SR-Phlx-2021-59); amended Oct. 12, 2021 (SR-Phlx-2021-62); amended Oct. 19, 2021 (SR-Phlx-2021-64); amended Dec. 1, 2021 (SR-Phlx-2021-73); amended Dec. 9, 2021 (SR-Phlx-2021-74); amended Feb. 1, 2022 (SR-Phlx-2022-05); amended May. 2, 2022 (SR-Phlx-2022-20); amended Jun. 1, 2022 (SR-Phlx-2022-24); amended Sep. 1, 2022 (SR-Phlx-2022-34); amended Sep. 22, 2022 (SR-Phlx-2022-37); amended Jan. 3, 2023 (SR-Phlx-2023-01); amended Apr. 3, 2023 (SR-Phlx-2023-10); amended Apr. 12, 2023 (SR-Phlx-2023-11); amended May 1, 2023 (SR-Phlx-2023-16); amended May 12, 2023 (SR-Phlx-2023-18), operative Jun. 1, 2023; amended May 23, 2023 (SR-Phlx-2023-21), operative Jun. 1, 2023; amended Jul. 10, 2023 (SR-Phlx-2023-30); amended Jun. 28, 2023 (SR-Phlx-2023-28), operative Jul. 28, 2023; amended Aug. 9, 2023 (SR-Phlx-2023-35); amended Aug. 11, 2023 (SR-Phlx-2023-37); amended Dec. 21, 2023 (SR-Phlx-2023-58); amended Feb. 1, 2024 (SR-Phlx-2024-04); amended Mar. 1, 2024 (SR-Phlx-2024-08); amended Apr. 1, 2024 (SR-Phlx-2024-16); amended Apr. 15, 2024 (SR-Phlx-2024-17); amended Apr. 25, 2024 (SR-Phlx-2024-18); amended Apr. 29, 2024 (SR-Phlx-2024-19); amended Jun. 27, 2024 (SR-Phlx-2024-27); amended Aug. 26, 2024 (SR-Phlx-2024-45); amended Oct. 11, 2024 (SR-Phlx-2024-52); amended Nov. 8, 2024 (SR-Phlx-2024-57); amended Dec. 2, 2024 (SR-Phlx-2024-68), operative Jan. 1, 2025; amended Mar. 3, 2025 (SR-Phlx-2025-11); amended Apr. 1, 2025 (SR-Phlx-2025-15); amended Apr. 10, 2025 (SR-Phlx-2025-19); amended Sep. 25, 2025 (SR-Phlx-2025-54); amended Sep. 29, 2025 (SR-Phlx-2025-57), operative Nov. 1, 2025; amended Jan. 30, 2026 (SR-Phlx-2026-06), operative Feb. 2, 2026.