Data News Europe #2026 - 7: Nasdaq Announces Fee Changes, effective January 1, 2027
Markets Impacted: Nordic Markets & Baltic Markets
Products Impacted: Nordic Equity, Nordic Equity Derivatives, Nordic Fixed Income, Baltic Equity & Fixed Income, Nordic Indexes, Baltic Indexes and Nasdaq APA
What you need to know:
Fees for European data products and services will be updated with effect from January 1, 2027. Nasdaq will implement fee changes based on increased cost of delivering and supporting our data products.
A minor correction was also made to the table in section 10 of the market data policy.
Summary of the fee changes:
A general increase of +3.3% will apply to most listed products, with the following exceptions:
- Customer category license fees will instead increase by 2.5%, except for Extranet Providers in Category 1, which follow the general rate.
- MDS non-display fees will increase by 5%.
- Level 1 and Last Sale professional subscribers and snapshot usage will not increase and will remain at 2026 levels.
- All non-professional subscriber usage will remain at 2026 prices, except non-professional snapshot usage, which will increase at the general rate.
Further Details on the Fee Changes
A general fee increase of +3.3% will apply to most listed products. This rate reflects the increased cost, including cost increases driven by inflationary pressures, of delivering and supporting our data products (in line with our published cost accounting methodology and market data policy).
For professional subscriber and snapshot fees, TotalView and Level 2 will increase at the general rate, while Level 1 and Last Sale will not increase. For non-professional subscriber fees, there will be no increase, except for non-professional snapshot, which will increase at the general rate.
There are no changes to the product structure. Our framework was already updated, effective 1 September 2026, in response to the Commission Delegated Regulation (EU) 2025/1156 (“RTS on RCB”), and these fee adjustments effective 1st of January 2027 will sit within that recently revised structure.
No action or additional documentation is required in relation to this change. The revised fees will be reflected automatically on invoices issued at the beginning of February 2027, covering the service period of January 2027.
Where can I find additional information?
The future price list effective January 1, 2027, can be found on the European Data Pricing & Policies web page: http://www.nasdaq.com/solutions/european-pricing-policies
For questions regarding this notice please speak to your Sales Representative or contact EUDataSales@nasdaq.com or by telephone: +45 33 93 33 66.