NASDAQ OMX GlObAl DAtA PrODuctS
On February 27, 2008, The NASDAQ Stock Market® and The OMX Group announced their
combination to form The NASDAQ OMX Group, Inc.SM, the world’s largest exchange company and the
first to have a technology footprint spanning six continents: North America, South America, Europe,
Australia, Africa and Asia.
The newly combined NASDAQ OMX Global Data Products offers customers:
n World-Class Products — Offering superior speed and incomparable market depth through
innovative, global market data products designed to meet new industry challenges.
n World-Class Service — Representing the best data feeds from the leading exchange, achieving
recognition from the Software & Information Industry Association’s (SIIA) Financial Information
Services Division (FISD) for exemplary customer service and communications.
n World-Class Distribution — Revolutionizing the market data industry with new plug-and-play
applications. Further strengthening NASDAQ OMX’s commitment to meeting the needs of
customers with the lowest latency products is the distribution of third-party data, such as the Bond
Trade Dissemination Service (BTDS) and OTC Bulletin Board for FINRA as well as acting as the
Securities Information Processor (SIP) for the UTP exchanges.
n World-Class Transparency — Delivering unsurpassed market transparency and constantly striving
to improve upon the best and most complete view of the market.
NASDAQ OMX Global Data Products – Our Products and Services
The Nordic Equity Low Latency Feed is designed specifically to meet the growing demand from both vendors
and end-users for more and faster information delivered in a standardized protocol. The Nordic Equity Low
Latency offering is an add-on offering to the existing Nordic Equity products and aims to support display use
requiring full order book information and algorithmic trading. The Low Latency Feed offers full depth Market-by-
Order equity information and high speed equity trading information via the standardized FIX/FAST protocol.
The Nordic Equity Level 2+ product provides full market insight, with a 20-level order book, news and
analysis data for all Nordic equities. The product also includes index values and weights, company disclosures
and liquidity measure indicators. This additional data provides investors with better insight into the liquidity of
NASDAQ OMX GlObAl DAtA PrODuctS
SAMPle tOtAlView DiSPlAy The Nordic Equity Level 2 product provides order book information
on the five best bid/ask for all Nordic OMX equity products, with full
SYMBOL AMAT Applied Materials (NGS)
details of the prices and quantities attached to the five best bids and
LAST SALE 20.15 q NASDAQ Bid Tick (+)
NATIONAL BBO 20.15 q 20.16 q 6900 x 3000 asks. Also included are company disclosures and price index values.
Bid Price Depth Ask Price Depth
20.15 10700 20.16 4900 The Nordic Equity Level 1 product includes the details of the traded
20.14 56100 20.17 9100
20.13 26300 20.18 13400 prices and quantities of all equity products traded on the OMX equity
20.12 9900 20.19 11200
20.11 1700 20.20 8700 markets in Stockholm, Copenhagen and Helsinki. The content for Level
MPID Bid Size MPID Ask Size 1 is best bid/ask, price index values and company disclosures.
NSDQ 20.15 3000 NSDQ 20.16 2000
ARCX 20.15 2600 ARCX 20.16 1900
BEST 20.15 1500 TDCM 20.16 1000
NITE 20.15 1400 NSDQ 20.17 6000 The Nordic Fixed Income Level 2 product contains real-time
CINN 20.15 1200 OPCO 20.17 2100
BOFA 20.15 1000 BARD 20.17 1000 information, daily statistics and fixing information on government
NSDQ 20.14 28500 NSDQ 20.18 5000
BEST 20.14 12500 OPCO 20.18 2500 bonds, mortgage bonds, corporate bonds, premium bonds and mutual
NITE 20.14 7500 CLYP 20.18 2000
AUTO 20.14 5000 20.18 1500
funds of the Nordic markets. Main content includes listing details,
LEHM 20.14 1000 NITE 20.18 1100 order book information, bid and ask quotes for up to five levels, trade
ABLE 20.14 1000 TDCM 20.18 1000
SCHB 20.14 500 DAIN 20.18 100 information, derived information, fixings, indicative bid and ask quotes,
GSCO 20.14 100 TEJS 20.18 100
NSDQ 20.13 10000 GSCO 20.18 100 daily turnover statistics and company disclosures.
GSCO 20.13 8800 NSDQ 20.19 5500
SCHB 20.13 7500 NITE 20.19 3000
NSDQ 20.12 2200 MSCO 20.19 1500
BEST 20.12 2000 OPCO 20.19 1000 The Nordic Derivatives Level 2 product contains real-time information
RAJA 20.12 1200 JPMS 20.19 100
LEHM 20.12 1000 SCHB 20.19 100
on trading in equity options and futures as well as index options and
TDCM 20.12 1000 BARD 20.20 4000 futures. Features include listing details, trade and derived information,
MONR 20.12 1000 BEST 20.20 1200
SWST 20.12 1000 NFSC 20.20 1000 as well as order book information showing the five best levels of bid
NORT 20.12 400 NSDQ 20.20 1000
JPMS 20.12 100 FBRC 20.20 800 and ask prices and their respective total quantity.
PERT 20.11 800 SCHB 20.20 500
GSCO 20.11 500 NITE 20.20 100
LEHM 20.11 100 FACT 20.20 100
NSDQ 20.11 100 UBSW 20.21 1100 The Baltic Equity and Fixed Income Level 2 product contains real-
NORT 20.11 100 GSCO 20.21 1000
PIPR 20.11 100 NITE 20.21 1000
time information from trading in instruments on the joint Baltic
NSDQ 20.10 13500 NSDQ 20.21 500 markets in Tallinn, Riga and Vilnius. This product provides order book
SCHB 20.10 3500 TDCM 20.21 100
TDCM 20.10 2000 FBCO 20.21 100 information on the ten best bid/ask for all equity and fixed income
PRUS 20.10 500 LEHM 20.21 100
GSCO 20.10 100 RHCO 20.21 100 products traded on Baltic markets in Tallinn, Riga and Vilnius. It also
NSDQ 20.09 2500 LEHM 20.22 5000
RAJA 20.09 2200 WCHV 20.22 1200 includes company disclosures and price index values
FBCO 20.09 1400 GLBT 20.22 1000
MONR 20.09 1000 NSDQ 20.22 500
NITE 20.09 1000 FBRC 20.22 500
COWN 20.09 800 DAIN 20.22 100
NASDAQ TotalView® is the standard-setting data feed for serious
HDSN 20.09 400 NITE 20.22 100 traders, presenting every single quote and order at every price level
UBSW 20.09 400 BEST 20.22 100
for all NASDAQ-, NYSE-, Amex- and regional-listed securities on the
NASDAQ book. TotalView displays more than 20 times the liquidity
Data highlighted in black of Level 2 and three times the liquidity within five cents of the inside
is unique to TotalView.
market, giving a competitive edge over other traders. TotalView is
This display is only a sample of NASDAQ data
also the only data product to include Net Order Imbalance information
displayed by a market data distributor. Each for the NASDAQ’s Opening and Closing CrossesSM as well as for the
distributor has its own proprietary display of NASDAQ IPO and Halt Crosses.
NASDAQ market data, which may include detailed
depth data, aggregated depth data or both.
NASDAQ Last Sale* (NLS) is part of NASDAQ’s continuing efforts to provide increased transparency to investors.
NLS is a direct data feed that provides real-time last sale data for securities listed on NASDAQ, NYSE, Amex and
regional exchanges — including price, volume and time. Upon full implementation, NLS will provide real-time, intra-
day trade data from the FINRA/NASDAQ Trade Reporting FacilityTM (TRF) as well as the integrated NASDAQ system.
This product enables firms to create dynamically updating stock tickers, portfolio trackers and price/time graphs.
NASDAQ Market AnalytixSM (NASDAQ MAXSM) offers traders four products designed to provide valuable pre- and
post-trade insight and analysis:
• NASDAQ Market Velocity® allows traders to detect potential surges in trading interest and liquidity by measuring
the “buzz” around a stock. Traders can execute their trading strategies before other traders by comparing the
expected order activity in a security with the current activity to detect surges in trading interest before trades occur.
• NASDAQ Market Forces® is an effective complement to Market Velocity that indicates whether the trading interest
is surging in buy or sell orders.
• NASDAQ Competitive VWAP (CVWAP) Benchmark allows traders to input criteria and parameters to help them
determine whether they have received a good price for a trade compared to those received by market makers.
• NASDAQ CVWAP Leaders ranks market makers in a stock, based on share volume and execution quality, to help
traders best determine where to route order flow.
NASDAQ Daily Share Volume tracks market participants’ trading performance in specific stocks and sectors.
Representing the “gold source” of information, the data in these reports is obtained from actual trades executed on
NASDAQ and from all trade reports directly entered into the FINRA/NASDAQ TRF. The reports display NASDAQ- and
non-NASDAQ listed share volume on NASDAQ on a T+1 basis, allowing traders to make better educated routing and
NASDAQ ModelViewSM represents the first time that a market center has provided insight into the full liquidity
available in its market, including reserve interest. This product was specifically designed to help improve pre- and
post-trade transaction cost analysis but is also often used to fine-tune trading algorithms and smart order routers.
ModelView is a web-based product that provides displayable and reserve depth data on an aggregate basis for all
price levels in NASDAQ on a T+10 basis.
NASDAQ Pre-Trade Market Impact Cost Estimator (NASDAQ Pre) is based on ModelView data and facilitates
pre-trade analysis by providing the average cost in “cents away from the inside” associated with a particular order
strategy, size and time of day. NASDAQ Pre was created to help market participants manage transaction costs by
using the average cost data to determine which order types and sizes will minimize the market impact cost of
* Pending SEC approval.