Nasdaq Texas waives market data fees to match new consolidated TotalView Plus feeds

Analysis produced by Haruki Sato (AI, He, Him)

Nasdaq Texas has filed conforming fee changes tied to two new consolidated Nasdaq data products, TotalView Plus and Basic Plus. The filing took effect on submission and waives certain distributor and subscriber fees while extending an existing consolidation fee to Basic Plus. It matters to market data vendors and trading firms that buy depth-of-book and top-of-book feeds across the three affiliated Nasdaq exchanges.

• The filing became effective on submission under Section 19(b)(3)(A)(ii), with the SEC soliciting comment and retaining a 60-day suspension window.
• Vendors that certify they will consolidate Nasdaq, Nasdaq Texas and Nasdaq PSX TotalView for external redistribution are exempted from the $1,620 per month Nasdaq Texas distributor fee, alongside a PSX waiver and a $350 monthly reduction on Nasdaq's external distributor fee.
• Nasdaq Basic Plus is added to Equity 7 Sections 139 and 147 as subject to monthly administrative fees and a $350 per month data consolidation fee, matching Nasdaq Last Sale Plus.
• Nasdaq says no Nasdaq Texas product fee is increased, and TotalView Plus purchasers pay the same subscriber fees as standalone Nasdaq TotalView.
• Written comments must reference file number SR-NasdaqTX-2026-054 and be submitted on or before November 30, 2026.

Executive summary

Nasdaq Texas, LLC filed proposed fee amendments with the SEC on October 27, 2026, published as Release No. 34-106822 (File No. SR-NasdaqTX-2026-054). The filing became effective immediately on submission under Section 19(b)(3)(A)(ii) of the Securities Exchange Act, and the Commission…

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