NEW YORK, Oct. 21, 2013 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that NASDAQ BasicSM has gained a tremendous following in the retail brokerage arena since its launch in 2009. To date, more than 1,000 firms have selected NASDAQ Basic as their source for real-time quote and trade data for all US-Listed equities.
A low cost alternative to other Level 1 offerings, NASDAQ Basic has gained widespread acceptance among sell-side banks, including nine out of the top 10 U.S. banks as well as tens of thousands of financial advisors, wealth managers and active investors.
With the implementation of an Enterprise License Program for NASDAQ Basic and a new professional subscriber fee structure in 2014, NASDAQ OMX® estimates NASDAQ Basic will save the industry up to 60 percent when compared to alternative Level 1 services.
"We anticipate NASDAQ Basic will save the financial industry an estimated $30 million dollars or more in 2014," said Brian Hyndman, Senior Vice President, NASDAQ OMX Global Information Services. "NASDAQ Basic fees are less than half of those charged for other Level 1 services, thus allowing retail brokerage firms to save hundreds of thousands of dollars or more annually. And we anticipate that our new Enterprise License offering will allow firms to save even more."
Hyndman added: "We have focused our efforts on innovative, cost-saving solutions to help our customers remain competitive in an otherwise challenging environment. In addition to NASDAQ Basic, we are very optimistic about client demand for lower cost, higher value index data as well as NASDAQ Ultrafeed, a highly efficient normalized data feed product."
For more information about NASDAQ Basic and other NASDAQ OMX Data Products, visit http://www.nasdaqtrader.com/Trader.aspx?id=nasdaqbasic.
About NASDAQ OMX Group
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 26 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.99% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook ( http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ Basic and NASDAQ OMX's other products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
Source:The NASDAQ OMX Group, Inc.