SEC Approves Extension of NQDS Non-Pro Fee Pilot

On September 9, 2002, the U.S. Securities and Exchange Commission (SEC) approved a one-year extension to the NASDAQ® non-professional fee pilot program for NASDAQ Quotation Dissemination ServiceSM (NQDSSM). For distributors currently participating in the NQDS pilot program, the reduced fee will be automatically reflected in the NASDAQ invoice for September 2002.

As outlined in Vendor Administration Notice #2000-7, NASDAQ introduced the NQDS non-professional fee pilot program in September 2000, to reduce the cost of real-time market data for individual investors. Under the current pilot program, the NASDAQ NQDS monthly fee is $10 for non-professional subscribers.

To qualify to participate in the pilot program, market data distributors must comply with the Subscriber Agreement Administration Policy as outlined in the Data Policiessection of the NasdaqTrader Web site. To enroll in the pilot, distributors must execute the NQDS Non-Professional Pilot Fee Addendum to the Vendor Agreement.