The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that NASDAQ BasicSM has gained a tremendous following in the retail brokerage arena since its launch in 2009. To date, more than 1,000 firms have selected NASDAQ Basic as their source for real-time quote and trade data for all US-Listed equities.
A low cost alternative to other Level 1 offerings, NASDAQ Basic has gained widespread acceptance among sell-side banks, including nine out of the top 10 U.S. banks as well as tens of thousands of financial advisors, wealth managers and active investors.
With the implementation of an Enterprise License Program for NASDAQ Basic and a new professional subscriber fee structure in 2014, NASDAQ OMX® estimates NASDAQ Basic will save the industry up to 60 percent when compared to alternative Level 1 services.
"We anticipate NASDAQ Basic will save the financial industry an estimated $30 million dollars or more in 2014," said Brian Hyndman, Senior Vice President, NASDAQ OMX Global Information Services. "NASDAQ Basic fees are less than half of those charged for other Level 1 services, thus allowing retail brokerage firms to save hundreds of thousands of dollars or more annually. And we anticipate that our new Enterprise License offering will allow firms to save even more."
Hyndman added: "We have focused our efforts on innovative, cost-saving solutions to help our customers remain competitive in an otherwise challenging environment. In addition to NASDAQ Basic, we are very optimistic about client demand for lower cost, higher value index data as well as NASDAQ Ultrafeed, a highly efficient normalized data feed product."
For more information about NASDAQ Basic and other NASDAQ OMX Data Products, visit http://www.nasdaqtrader.com/Trader.aspx?id=nasdaqbasic.
