Nasdaq BX Mirrors Update with New Quote Data Source
Published Date: 9/19/2025
Notice
Summary
Nasdaq BX is updating its rules to add a new market center’s data as both a primary and backup source for stock price quotes. This change helps the Exchange handle orders and follow rules better, affecting traders and investors using Nasdaq BX. The update took effect right after filing on September 12, 2025, with no extra costs announced.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Adds 24X as Primary Quotation Feed
If you trade on Nasdaq BX, the Exchange will use the new 24X direct feed as the primary source of stock quotes and CQS/UQDF as the secondary source for that new market center. The change is recorded in Equity 4, Rule 4759 and applies to handling, routing, execution of orders and regulatory compliance related to those functions.
Rule Effective Immediately (Sep 12, 2025)
The SEC waived the usual 30-day operative delay, so the proposed rule change became operative upon filing on September 12, 2025. That lets Nasdaq BX begin receiving and using the 24X direct feed right away.
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Nasdaq is updating its rules to add a new market center’s data feeds as primary and backup sources for stock price quotes. This change affects traders and systems that rely on Nasdaq’s data for order handling and compliance. The update is effective immediately, helping Nasdaq keep trading smooth and reliable without extra costs.
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