Nasdaq Touts $30 Million Basic Savings

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Despite the fee increases announced recently by Nasdaq for data products including the low-cost Nasdaq Basic consolidated tape alternative, the exchange will announce this week that product is delivering $30 million in annual savings industry-wide, after accumulating a user base of 55,000 users primarily in wealth management and retail trading since Basic’s launch in 2009.

Nasdaq has positioned the product as a lower-cost alternative to the UTP Level 1 and CTA consolidated tape products. The con

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