Nasdaq Peak Data Feed Message Rates For June 2002

Nasdaq® reports its peak message rate statistics for its data feed products on a monthly basis. During the month of June 2002, Nasdaq supported the following three data feed products in production: the Level 1 ServiceSM, the Nasdaq Quotation Dissemination ServiceSM (NQDSSM), and the Nasdaq Trade Dissemination ServiceSM (NTDSSM). For the month of June 2002, the peak traffic rates for these data feeds were as follows:

Nasdaq Data Feed	Data Rate in Messages Per Second (mps)		Average Message Size
	15 - second	1 - Minute
Level 1	457.6 mps	441.1 mps	55.4 bytes
NQDS	1,147.5 mps	1,045.2 mps	68.0 bytes
NTDS	957.0 mps	870.3 mps	43.8 bytes

When compared to prior month's peak rates, Nasdaq saw an eleven percent increase in Level 1 messages during the peak 15-second period in June 2002. The NQDS and NTDS data rates did not change significantly from May to June 2002, however.

It should be noted that Nasdaq experienced a substantial increase in the Level 1 traffic in association with new Unlisted Trading Privileges (UTP) processing that was introduced on July 1, 2002. In addition, Nasdaq expects to see its Level 1 and NQDS traffic rates to increase as it phases in securities to the new SuperMontageSM system beginning July 29, 2002.

To handle the bandwidth capacity demands of the UTP and SuperMontage product initiatives, Nasdaq launched a new, higher speed Market Data Network (MDN) for direct-connect data feed subscribers in April 2002. While Nasdaq will continue to support the Intelligent Shared Network II (ISNII) through the third quarter of 2002, this legacy network is subject to queuing at the market peak. Nasdaq, therefore, strongly encourages all direct-connect subscribers to move to the new MDN at the earliest possible date. For MDN ordering information, please refer to Vendor Alert #2002-3.