Tables 1-4: Subscriber Fees

Tables 1 through 4 set forth both the Plans' current and historical principal fees for subscribers to market information services. In addition to these subscriber fees, the Plans have a variety of other fees that apply to information vendors and others.

Table 1-Network A Subscriber Fees
	1986	1991	1997	1999	Current
Professional (monthly per device)
1	$120.00	$127.25	unchanged	unchanged	unchanged
2	75.00	79.50
3	55.00	58.25
4	50.00	53.00
5	45.00	47.75
6 to 9	37.50	39.75
10 to 19	30.00	31.75
20 to 29	28.50	30.25
30 to 99	26.00	27.50
100 to 249	25.00	26.50
250 to 749	22.50	23.75
750 to 4999	19.50	20.75
5000 to 9999	18.75	19.75
10,000 and up	17.75	18.75
Enterprise (monthly)	--	--	--	500,000	525,000
Ticker Services/TV Broadcast (per 1,000 household)	--	--	--	--	2.00
Nonprofessional
Monthly per subscriber
1 to 250,000 subscribers per vendor	4.00	4.25	5.25	1.00	unchanged
250,001 subscribers and up	4.00	4.25	5.25	.50	unchanged
Per Query (processed by vendor per month)
1 to 20,000,000	--	--	.01	.0075	unchanged
20,000,001 to 40,000,000	--	--	.01	.0050	unchanged
40,000,001 and up	--	--	.01	.0025	unchanged

Table 2-Network B Subscriber Fees
	1980	1982	1988	1991	Current
Professional (monthly per device)
Members
Last Sale	$10.00	$11.65	$12.60	$13.60	unchanged
Bid-Ask	10.05	11.70	12.65	13.65	unchanged
Non-Members
Last Sale	10.00	11.65	12.60	14.60	unchanged
Bid-Ask	10.80	12.60	14.60	15.60	unchanged
Enterprise (monthly)	--	--	--	--	500,000
Nonprofessional
Monthly per person	--	--	3.00	3.25	1.00
Per Query1 (processed by vendor per month)
1 to 20,000,000	--	--	--	--	.0075
20,000,001 to 40,000,000	--	--	--	--	.005
40,000,001 and up	--	--	--	--	.0025

Table 3-Nasdaq System Subscriber Fees
	1992	1994	1996	1998	Current
Professional (monthly per device)
Level 1/Last Sale	$18.25	$19.00	unchanged	$20.00	unchanged
NQDS2	50.00	unchanged	unchanged	unchanged	unchanged
Nonprofessional
Level 1	4.00	unchanged	unchanged	unchanged	1.00
NQDS3	--	--	--	--	10.00
Level 1 Voice Response4	21.95	unchanged	unchanged	unchanged	unchanged
Per Query	.015	unchanged	.010	unchanged	.005

Table 4-OPRA System Subscriber Fees5
	1994	1996	1998	1999	Current
Professional (monthly per device)
Member
1	$55.00	$34.00	$15.00	$16.00	$18.00
2-3	33.00	34.00	15.00	16.00	18.00
4-9	21.00	23.00	15.00	16.00	18.00
10-29	12.00	13.65	15.00	16.00	18.00
30-99	9.00	10.50	12.00	13.00	14.50
100-749	9.00	10.50	12.00	13.00	14.50
750 and up	7.00	8.40	9.40	10.00	11.00
Non-Member
1	55.00	35.00	24.00	26.00	28.50
2-3	34.00	35.00	24.00	26.00	28.50
4-9	22.00	24.00	24.00	26.00	28.50
10-29	13.00	15.00	20.00	22.00	24.00
30-99	10.00	14.50	20.00	22.00	24.00
100-749	10.00	12.00	14.50	15.50	17.50
750 and up	8.00	10.00	14.50	15.50	17.50
Enterprise (per registered representative/ per month)	--	--	--	10.00	unchanged
Nonprofessional
Monthly per person	$2.00	unchanged	unchanged	$2.50	$1.00
Per Query6 (tiered by volume)	.02	unchanged	unchanged	unchanged	.005
Options Chain7	--	--	--	--	.02

Endnotes

¹ The per-query fee, established in November 1999, is capped at $1 per month.

² The NQDS fee is inclusive of the Level 1/Last Sale Service.

³ The NQDS Non-professional service began as a pilot program in August 2000.

⁴ The voice-response fee is for data delivered via voice response systems and is assessed on a per port basis. For the purposes of payment, the number of ports is equal to the maximum number of callers that simultaneously access the data during each month.

⁵ The fees are applicable to the OPRA System's basic service (equity options and index options). OPRA charges separately for information on foreign currency options.

⁶ The per query fee is capped at $1 per month.

⁷ An "options chain" is all quotes for a particular option (e.g., all IBM calls and puts) instead of one quote for a particular series (e.g., IBM 120 calls).

http://www.sec.gov/divisions/marketreg/marketinfo/b.htm