NASDAQ Last Sale provides the real-time last price and volume similar to  NASDAQ Basic Plus but does not provide Bid/Ask price/size data.  Bid/Ask price/data is not supported in the NLS product. NLS is a Non-Professional User product that is not available to Professionals.  Like the Basic product, NLS does not include data for OTC Markets stocks. The NASDAQ Non-Professional Exchange Agreement is required to be signed by end users.


Essential Data Information:



NLS provides real-time intraday last sale data for all securities traded in Nasdaq systems and the FINRA/Nasdaq Trade Reporting FacilityTM (TRFTM). Nasdaq has more liquidity than any other U.S. exchange, making NLS a reliable and accurate source for real-time, intraday trade data.

NLS is a remarkable advancement in transparency, allowing millions of people around the world to access Nasdaq real-time validated data. NLS is designed to:

  • Encourage universal distribution of Nasdaq real-time trade data to the public via the Internet and other electronic media.
  • Enable firms to create dynamic stock tickers, portfolio trackers and time/price graphs products for public use.
  • Ensure widespread delivery of NLS through its innovative pricing—multiple fee schedule options as well as monthly fee caps.
  • Include data from both the Nasdaq trading platform, which has the most liquidity in U.S. Equities than any other U.S. exchange, as well as data from the FINRA/Nasdaq Trade Reporting Facility (TRF).
  • Support the full range of U.S. exchange-listed equities—NYSE- and Amex-listed issues as well as Nasdaq-listed issues.


NLS is designed to provide a comprehensive view into the trading activity on U.S. equity exchanges. In addition to the benefits of Nasdaq Last Sale, NLS supports:

  • Full Nasdaq market coverage: NLS reflects all transactions from the Nasdaq U.S. equity market systems: Nasdaq, FINRA/Nasdaq TRF.
  •  Comprehensive security coverage:  NLS covers all U.S. equity securities including:
    • Tape A 2013 New York Stock Exchange (NYSE)-listed securities 
    • Tape B 2013 NYSE MKT- and NYSE Arca-listed securities 
    • Tape C 2013 Nasdaq-listed securities 
  • Consolidated market volume:  NLS provides cumulative consolidated volume on each trade report message.  NLS cumulative volume reflects real-time trading activity across all U.S. exchanges for Tape A, Tape B, and Tape C securities.  


NLS encourages the creation of enhanced NLS and Nasdaq Basic Plus displays at the same low fees.  It encourages universal distribution of Nasdaq real-time trade data to the public via the Internet and other electronic media.   NLS enables firms to create dynamic stock tickers, portfolio trackers and time/price graphs products for public use.


NLS is a comprehensive but affordable data feed providing access to all Nasdaq U.S. markets' last sale data as well as consolidated volume. NLS includes all trade data from the following Nasdaq markets for U.S. exchange-listed securities:

  • The Nasdaq Stock Market® (Nasdaq®) 
  • FINRA/Nasdaq Trade Reporting Facility (TRF)


NLS also provides consolidated volume information as part of each trade message. Market data distributors are encouraged to use NLS to create enhanced Nasdaq Last Sale and Nasdaq Basic Plus displays. Nasdaq Basic Plus includes trades that take place on Nasdaq BX and Nasdaq PSX.