The UTP Plan (Plan) governs the collection, consolidation and dissemination of Quotation and Transaction Information for Nasdaq-listed Securities Traded on Exchanges on an Unlisted Trading Privilege (UTP) Basis. The Plan is administered by the participant exchanges and associations listed under Participant section of this web page. These organizations determine policy matters and oversee system operations. The Plan has been approved by the Securities and Exchange Commission (SEC).

Level 1 Data

UTP Data (Nasdaq-Listed Tape C Eligible Securities):

• UTP Quotation Data FeedSM (UQDF)
• UTP Trade Data Feed (UTDF)

Under the UTP plan, UQDF and UTDF are part of the Level 1 entitlement.

UTP Quotation Data Feed (UQDF) provides best bid and offer (BBO) quotes from the UTP participants as well as the consolidated national best bid and offer (National BBO) quotes for securities listed on the Nasdaq Stock Market.

UTP Trade Data Feed (UTDF) provides trade data from the UTP participants for securities listed on the Nasdaq Stock Market®.

Participants

The list of UTP Plan participants may be found at the official UTP Plan website.