# 2026-18932: Nasdaq fiddles with stock data fees—yawn-worthy bureaucracy alert

2026-18932, Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Set Fees for Nasdaq TotalView Plus and Nasdaq Basic Plus, is a Federal Register notice from Securities and Exchange Commission published 2026-09-16; PRIA reads it as touching household money (as of 2026-09-23).

- Canonical: https://policyrisk.com/federal-register/2026-18932
- As of: 2026-09-23
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-18932
- Title: Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Set Fees for Nasdaq TotalView Plus and Nasdaq Basic Plus
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 58729
- Published: 2026-09-16
- Effective: unknown
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-09-23

## In one line

Nasdaq fiddles with stock data fees—yawn-worthy bureaucracy alert

## Summary

Nasdaq is setting new fees for its TotalView Plus and Basic Plus market data products, making sure they cost the same or less than current combined fees for similar data. This change affects traders and investors who use Nasdaq’s detailed stock info and kicks in right away. It’s a smart move to keep prices fair while offering top-notch market insights.

## Effects PRIA read

- Consolidated feeds can lower data costs: benefit, medium. Nasdaq will offer two consolidated market data products, Nasdaq TotalView Plus and Nasdaq Basic Plus, priced at or below current combined fees so customers can replace three separate feeds with one and potentially reduce market data, networking, and connectivity costs. The filing lists Professional…
- Vendor fee waiver saves $3,010/month: benefit, high. Any firm that certifies it will externally redistribute a consolidated TotalView feed (consolidating Nasdaq TotalView, Nasdaq Texas TotalView, and Nasdaq PSX TotalView) will be exempt from Nasdaq Texas external market data distributor fees of $1,620/month and PSX external distributor fees of $1,390…
- Basic Plus consolidation fee of $350/month: cost, high. Firms that receive Nasdaq Basic Plus or Nasdaq Last Sale Plus will pay monthly administrative fees for Nasdaq Last Sale, NTX Last Sale, and PSX Last Sale and a data consolidation fee of $350 per month (applies to both Internal and External Distributors). Firms will be liable for either Nasdaq Last…
- Retail users: Basic Plus non-pro fee is $1/month: benefit, low. For Non-Professional (retail) subscribers, Nasdaq Basic Plus will have a single monthly charge of $1.00 that covers Nasdaq Basic for Nasdaq, Nasdaq Basic for NYSE, and Nasdaq Basic for NYSE American. This replaces the prior separate non-professional charges of $0.50/$0.25/$0.25 for those feeds.
- Enterprise license inclusion for large distributors: mixed, high. Nasdaq proposes to include Nasdaq TotalView Plus and Nasdaq Basic Plus within its Market Data Enterprise License for Display Usage. A distributor that is also a broker-dealer or investment adviser may pay $600,000 per month (or $500,000/month if prepaid for 12 months) to distribute Depth-of-Book an…

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## Sources
- [2026-18932 on federalregister.gov](https://www.federalregister.gov/documents/2026/09/16/2026-18932/self-regulatory-organizations-the-nasdaq-stock-market-llc-notice-of-filing-and-immediate)
- [2026-18932 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-09-16/pdf/2026-18932.pdf)

## Related
- [Previous: 2026-18931, Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2026-18931)
- [Next: 2026-18933, Self-Regulatory Organizations; Nasdaq Texas, LLC; Notice of Filing and Immediat…](https://policyrisk.com/federal-register/2026-18933)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-18932 (as of 2026-09-23).