Tables 1-4: Subscriber Fees
Tables 1 through 4 set forth both the Plans' current and historical principal fees for subscribers to market information services. In addition to these subscriber fees, the Plans have a variety of other fees that apply to information vendors and others.
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Table 1-Network A Subscriber Fees
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1986
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1991
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1997
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1999
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Current
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Professional
(monthly per device)
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1
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$120.00
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$127.25
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unchanged
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unchanged
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unchanged
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2
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75.00
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79.50
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3
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55.00
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58.25
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4
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50.00
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53.00
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5
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45.00
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47.75
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6 to 9
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37.50
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39.75
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10 to 19
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30.00
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31.75
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20 to 29
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28.50
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30.25
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30 to 99
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26.00
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27.50
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100 to 249
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25.00
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26.50
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250 to 749
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22.50
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23.75
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750 to 4999
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19.50
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20.75
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5000 to 9999
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18.75
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19.75
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10,000 and up
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17.75
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18.75
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Enterprise (monthly)
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--
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--
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--
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500,000
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525,000
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Ticker Services/TV Broadcast
(per 1,000 household)
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--
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--
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--
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--
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2.00
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Nonprofessional
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Monthly per subscriber
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1 to 250,000 subscribers
per vendor
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4.00
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4.25
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5.25
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1.00
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unchanged
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250,001 subscribers and up
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4.00
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4.25
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5.25
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.50
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unchanged
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Per Query
(processed by vendor per month)
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1 to 20,000,000
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--
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--
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.01
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.0075
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unchanged
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20,000,001 to 40,000,000
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--
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--
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.01
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.0050
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unchanged
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40,000,001 and up
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--
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--
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.01
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.0025
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unchanged
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Table 2-Network B Subscriber Fees
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1980
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1982
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1988
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1991
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Current
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Professional
(monthly per device)
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Members
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Last Sale
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$10.00
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$11.65
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$12.60
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$13.60
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unchanged
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Bid-Ask
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10.05
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11.70
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12.65
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13.65
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unchanged
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Non-Members
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Last Sale
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10.00
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11.65
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12.60
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14.60
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unchanged
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Bid-Ask
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10.80
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12.60
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14.60
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15.60
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unchanged
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Enterprise (monthly)
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--
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--
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--
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--
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500,000
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Nonprofessional
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Monthly per person
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--
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--
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3.00
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3.25
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1.00
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Per Query1
(processed by vendor per month)
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1 to 20,000,000
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--
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--
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--
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--
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.0075
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20,000,001 to 40,000,000
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--
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--
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--
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--
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.005
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40,000,001 and up
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--
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--
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--
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--
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.0025
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Table 3-Nasdaq System Subscriber Fees
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1992
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1994
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1996
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1998
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Current
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Professional
(monthly per device)
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Level 1/Last Sale
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$18.25
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$19.00
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unchanged
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$20.00
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unchanged
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NQDS2
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50.00
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unchanged
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unchanged
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unchanged
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unchanged
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Nonprofessional
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Level 1
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4.00
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unchanged
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unchanged
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unchanged
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1.00
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NQDS3
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--
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--
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--
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--
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10.00
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Level 1 Voice Response4
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21.95
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unchanged
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unchanged
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unchanged
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unchanged
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Per Query
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.015
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unchanged
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.010
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unchanged
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.005
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Table 4-OPRA System Subscriber Fees5
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1994
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1996
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1998
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1999
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Current
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Professional
(monthly per device)
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Member
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1
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$55.00
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$34.00
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$15.00
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$16.00
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$18.00
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2-3
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33.00
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34.00
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15.00
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16.00
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18.00
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4-9
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21.00
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23.00
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15.00
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16.00
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18.00
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10-29
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12.00
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13.65
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15.00
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16.00
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18.00
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30-99
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9.00
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10.50
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12.00
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13.00
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14.50
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100-749
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9.00
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10.50
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12.00
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13.00
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14.50
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750 and up
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7.00
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8.40
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9.40
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10.00
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11.00
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Non-Member
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1
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55.00
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35.00
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24.00
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26.00
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28.50
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2-3
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34.00
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35.00
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24.00
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26.00
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28.50
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4-9
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22.00
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24.00
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24.00
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26.00
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28.50
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10-29
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13.00
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15.00
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20.00
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22.00
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24.00
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30-99
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10.00
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14.50
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20.00
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22.00
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24.00
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100-749
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10.00
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12.00
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14.50
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15.50
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17.50
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750 and up
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8.00
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10.00
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14.50
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15.50
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17.50
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Enterprise (per registered representative/ per month)
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--
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--
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--
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10.00
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unchanged
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Nonprofessional
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Monthly per person
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$2.00
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unchanged
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unchanged
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$2.50
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$1.00
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Per Query6
(tiered by volume)
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.02
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unchanged
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unchanged
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unchanged
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.005
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Options Chain7
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--
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--
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--
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.02
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Endnotes
1 The per-query fee, established in November 1999, is capped at $1 per month.
2 The NQDS fee is inclusive of the Level 1/Last Sale Service.
3 The NQDS Non-professional service began as a pilot program in August 2000.
4 The voice-response fee is for data delivered via voice response systems and is assessed on a per port basis. For the purposes of payment, the number of ports is equal to the maximum number of callers that simultaneously access the data during each month.
5 The fees are applicable to the OPRA System's basic service (equity options and index options). OPRA charges separately for information on foreign currency options.
6 The per query fee is capped at $1 per month.
7 An "options chain" is all quotes for a particular option (e.g., all IBM calls and puts) instead of one quote for a particular series (e.g., IBM 120 calls).
http://www.sec.gov/divisions/marketreg/marketinfo/b.htm