Nasdaq Level 2 provides the top-of-file position for NASDAQ exchange participants. When it was introduced in 1983 as NASDAQ Quotation Dissemination Service (NQDS), it was the first product to provide NASDAQ market participant depth to the investing public. At the time, NQDS carried only NASDAQ market participant depth for NASDAQ-listed securities. In 2007, NASDAQ expanded the Level 2 product to include market participant depth in NYSE-, NYSE MKT- and regional exchange-listed securities.

See: Nasdaq Level 2 product page

Data type: U.S. Equities

Available in:

  • Real-time: direct data feed.
  • Historical: complete tick-level historical data up to previous trading day. Arbitrary portions controlled replay and hosted analytics.


We offer:

  • Feed received directly from Nasdaq
  • Configurable conflation and throttling to control downstream systems pressure
  • Efficient in-transit wire data compression
  • Feed handler and messaging infrastructure with low hardware footprint
  • 24×7×365 monitoring and support