Federal Register #SR-NASDAQ-2026-061

SEC Notice: Nasdaq Proposes Consolidated TotalView Plus and Basic Plus Data Feeds

The Securities and Exchange Commission (SEC) has issued a notice regarding a proposed rule change from The Nasdaq Stock Market LLC. - Government Buyer: - Securities and Exchange Commission (SEC) - OEM/Vendor: - The Nasdaq Stock Market LLC (Nasdaq) - Products/Services Requested: - Introduction of two new consolidated market data feeds: - Nasdaq TotalView Plus Data Feed - Provides consolidated depth-of-book market data from Nasdaq, Nasdaq Texas, and Nasdaq PSX - Nasdaq Basic Plus Data Feed - Provides consolidated top-of-book (best bid, offer, and last sale) market data from Nasdaq, Nasdaq Texas, and Nasdaq PSX - No specific part numbers or purchase quantities provided - Notable Requirements: - New feeds are amalgamations of existing feeds, designed to optimize data ingestion and market analysis - Intended to improve access to consolidated data, especially for lower liquidity periods such as overnight trading sessions - Existing individual feeds will remain available alongside the new consolidated options

Description

The Nasdaq Stock Market LLC has filed a proposed rule change to introduce new data feeds, Nasdaq TotalView Plus and Nasdaq Basic Plus, with immediate effect. These feeds will offer consolidated top of book and depth of book information currently disseminated by Nasdaq, Nasdaq Texas, and Nasdaq PSX. The proposal aims to provide customers with a new option for consuming market data through a single consolidated feed, which may optimize data ingestion and improve market analysis, especially in lower liquidity environments such as overnight trading sessions. The current underlying feeds will remain available, and the new feeds are amalgamations of these existing feeds.

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