Nasdaq Preps PHLX, Fundamental Data Fee Changes

Nasdaq OMX's PHLX market will introduce new market data fees from Jan. 1, 2013, subject to SEC approval, which will introduce monthly professional subscriber fees of $40 per user (whereas the exchange previously charged $20 per month for external professional subscribers, and internal use was free of charge), $1 per month for non-professionals, and a $10,000 enterprise non-display license.

The fees cover the PHLX Depth of Market feed of quotes, orders, net order imbalance data for the opening cross period and last sale data; the Top of PHLX Options (TOPO) best bid and offer and last sale data; and TOPO Plus Orders, which includes the TOPO and PHLX Orders feeds. Clients will only pay the fees once, whether they receive one, two or all of these services.

Also from Jan. 1, Nasdaq will combine entitlements for its Daily List and Fundamental Data products, enabling clients of either dataset to access both for one monthly price of $1,500 per organization. Officials say the pricing keeps costs fair for market data distributors while simplifying fees and administration for the products.