The OTC Montage Data Feed (OMDF) provides top-of-file market participant quotations for the FINRA Alternative Display Facility (ADF) for NASDAQ-listed issues. For more information on the ADF, please visit the Financial Industry Regulatory Authority (FINRA) website.

Benefits & Features

  • Assist FINRA ADF market participants track their quotation positions in NASDAQ-listed issues
  • Enable market data distributors to create a cross-market quotation montage for NASDAQ-listed issues

Access Options

  • Via Nasdaq Direct Data Feed Products: Trading firms and market data vendors may create a real-time display by processing direct Nasdaq data feed products. For detailed technical documentation for Nasdaq direct products, please refer to the specifications page of the Nasdaq Trader website.
  • Via Market Data Vendors: Individual investors and traders may access real-time data through a number of authorized Nasdaq market data distributors. Market data distributors provide both display devices and data feed products containing Nasdaq real-time data. Refer to the Market Data Vendors page for a complete list of companies.


At this time, there is no separate entitlement fee for OMDF data. Firms may provide OMDF to any customer entitled to receive Level 1 data.

For a complete list of NASDAQ and UTP data fees, please refer to the NASDAQ Data Products Pricing page.

Agreements & Forms

In order to obtain access to OMDF data, you must complete the appropriate NASDAQ agreement and forms as listed below.

  • NASDAQ OMX Data Feed Subscribers (Internal Distribution): Firms that receive a data feed product and only use the data internally are required to submit the NASDAQ OMX Global Data Agreement.

  • Data Feed Subscribers (External Distribution): Firms that receive a data feed product and distribute the data externally to third-party users are required to submit the following documents: Please note that the external agreements also cover any internal distribution.

For the complete list of Nasdaq and UTP market data agreements and forms, please refer to the Nasdaq Global Data Products Agreements and Forms page.

Product News & Updates

ADF market participants should refer to the FINRA website for the latest marketplace news.

For the complete list of NASDAQ direct data feed changes, please refer to the NASDAQ Data Product Release Schedule.