Nasdaq Proposes New Fees for Consolidated Data Products Ahead of 23-Hour Trading Expansion

The Nasdaq Stock Market LLC, along with Nasdaq PHLX LLC and Nasdaq Texas, LLC, has filed proposed rule changes with the SEC to establish fees for new consolidated data products, Nasdaq TotalView Plus and Nasdaq Basic Plus. These new products are designed to provide a broader view of the market and facilitate the transition to 23-hour, 5-day-per-week trading scheduled to begin in December 2026. The proposed fees are set at or below those currently charged for existing depth-of-book and top-of-book products.