The UTP Plan governs the collection, processing and distribution of all UTP Level 1 data. The UTP Plan is administered by the participant exchanges and associations listed under Participants. These organizations determine policy matters and oversee system operations. The UTP Plan has been approved by the Securities and Exchange Commission (SEC).


Amendments to the plan are filed with the SEC in accordance with Section 11A of the Securities Exchange Act of 1934. The UTP data feeds consist of one network, Tape C, which is the single source of consolidated market data for Nasdaq-listed securities. The UTP Securities Information Processor (SIP) makes available the UTP Level 1 information on data feeds. The UTP Quote Data Feed (UQDF) provides continuous quotations from all market centers trading Nasdaq-listed securities. The UTP Trade Data Feed (UTDF) provides continuous last sale information from all market centers trading Nasdaq-listed securities.


If you have any questions regarding the UTP Plan, please send an email to admin@utpplan.com


Facts about the Securities Information Processor (SIP):


The Securities Information Processor (SIP) links the U.S. markets by processing and consolidating all protected bid/ask quotes and trades from every trading venue into a single, easily consumed data feed.


The SIP disseminates and calculates critical regulatory information including the National Best Bid and Offer (NBBO), and Limit Up Limit Down (LULD) price bands among other important regulatory information such as short sale restrictions, and regulatory halts.


System resiliency for the SIP consists of:


Secondary back-up server running in parallel (hot/hot) to the primary server, which allows exchanges to immediately reconnect if there is a primary service disruption.

Fully redundant back-up site running hot/warm with a 10 minute recovery time requirement or less if there is a full system failure at the primary site.

System availability requirement of 100%.

100% System availability in 19 of the last 30 quarters for Trade Metrics and 19 of the last 30 quarters for Quote Metrics.

Current capacity messages per 100 milliseconds of 283,100 for quote feed and 300,000 for trade feed.

Capacity above peak with capacity-to-peak ratio of 4.9:1 for the quote feed and 15.2:1 for the trade feed.

Current latency at the median is about 16-17 microseconds for the UTP Data Services.


As of Q3, 2017, this data is available monthly and historically in the Metrics.


Other facts about the Consolidated Tape:


Competitive fees providing access to consolidated protected quotes and trades for every market. Pricing information can be located at UTP Data Policies.


Millions of professional and nonprofessional investors have access to real-time prices via the consolidated tapes. Most nonprofessional investors do not pay fees because the low cost allows for brokerage firms to include real-time prices as part of their service.


The consolidated tapes simplify compliance and implementation with regulations such as Reg NMS, short sale, limit up/limit down and best execution.


The Operating Committee and the Advisory Committee meet quarterly with the SEC and the members of the CTA Advisory Committee to review SIP performance and discuss policy matters.


The Advisory Committee consists of representatives from a Retail Institution, the Vendor community, Institutional Brokerage Community, the ATS’s and an Individual Investor. All Advisory members are also members of securities industry groups (e.g. the Financial Information Forum (FIF) and the Securities Industry and Financial Markets Association (SIFMA).

Data Admin


Under the terms of the UTP Vendor Agreement, vendors of UTP Information must adhere to the following data policies. Pricing and policies are updated as needed. The below policy documents are regularly updated.


Note: Any interim updates are communicated to customers via UTP Vendor Alerts.


Data Feed & System Applications



UTP Binary Services

UTP Binary Upgrade Data Recipient Specification Documents– production launched October 24, 2016

With the launch of the enhanced INET platform a single specification document will be supported for the UTP Services. The SIP replaced the Legacy ASCII versions of UQDF and UTDF Data Feeds with the new binary vendor data feeds covering the Consolidation of Nasdaq Listed (Tape C) securities. Additionally the SIP merged the Legacy ASCII version of the OMDF Data Feed and delivers the messaging within the UTP Data Services (binary), as approved by the UTPOC. This will harmonize UTP with how the CQS plan processes the FINRA ADF quote messages.


Data Feed Interface Specifications


UTP Binary Upgrade Inbound Participant Interface Specifications

With the implementation of the SIP INET upgrade a single participant input interface document will be supported for submission to the SIP.


Inbound Binary Participant Specifications


As a service to network providers, a consolidated list of IP addresses for its UDP/IP services is maintained. Please note that UTP reserves the right to modify this IP address information as needed for network and operational reasons.


UDP/IP Addresses link: UTP Data Feed Services


SIP Emergency Procedures

SIP Emergency Procedures


FINRA Services

The Financial Industry Regulatory Authority (FINRA) is the owner of the FINRA OTC Reporting Facility (ORF), OTC Bulletin Board (OTCBB), and TRACE systems. FINRA is responsible for all technical product management related to BBDS and TDDS 2.0.


  • For all technical questions regarding the feeds, contact FINRA Product Management at (866) 899-2107.
  • For information related to BBDS and the OTC Bulletin Board (OTCBB), visit OTCBB Forms & Documentation
  • For information related to FINRA transparency-services visit FINRA website


As a service to network providers, FINRA maintains a consolidated list of IP addresses for its UDP/IP services on the Finra.org website.






* Features a new format going forward with additional information and historical metrics from 2010.



UTP Participant - Active


Trade Support Contact


Bats BZX Exchange Inc.; Bats BYX Exchange Inc. 8050 Marshall Drive, Lenexa, KS 66214 Bats Trade Desk (913) 815-7001
Bats EDGA Exchange Inc.; Bats EDGX Exchange Inc. 17 State Street, New York, NY 10004 Bats Trade Desk (913) 815-7001
Chicago Board Options Exchange 400 South LaSalle Street in Chicago, IL CBOE Service Desk (312)786-5600
Chicago Stock Exchange 440 South LaSalle Street, Chicago, IL 60605 CHX Trouble Desk (312) 663-2111
Financial Industry Regulatory Authority (FINRA) 1735 K Street, NW, Washington, D.C. 20006-1500 FINRA Market Operations (866) 776-0800
International Securities Exchange (ISE) 60 Broad Street, New York, NY 10004 ISE Service Desk (877) 473-9989
Investors’ Exchange LLC (IEX) 4 World Trade Center, 44th Floor, New York, NY 10007 IEX Market Operations (646) 343-2300
The Nasdaq Stock Market, Nasdaq BX 165 Broadway, 50th Floor, New York, NY 10006 NASDAQ Operations Center (212) 231-5180
Nasdaq PSX 165 Broadway, 50th Floor, New York, NY 10006 NASDAQ Operations Center (212) 231-5180
NYSE Arca 353 N Clark Street Ste 3100 Chicago, IL 60606 NYSE Service Desk (212) 896-2803
NYSE; NYSE MKT 11 Wall Street, 17th floor, New York, NY 10005 NYSE Service Desk (212) 896-2803
National Stock Exchange 101 Hudson St Suite 1200, Jersey City NJ 07302 NSX Service Desk (800) 843-3924

UTP Participant - Inactive/Pending Approval

For further support: UTP Support/Technical Specifications


All agreements and forms are administered by the UTP Data Administration.
Please email, fax or mail the completed documentation to admin@utpplan.com.




UTP Level 1 Data

SUBSCRIPTIONS to UTP VENDOR ALERTS Subscription to UTP Vendor Alerts:
Email: admin@utpplan.com
TECHNICAL QUESTIONS SIP participant issues +1 203 926 3400
Market Data Vendor/Subscriber UTP feeds issues +1 212 231 5180
REAL-TIME MARKET DATA EMERGENCY For a real-time market data emergency, please contact:
Phone +1 301 978 5307, Option #3


SIP participant issues +1 203 926 3400
Market Data Vendor/Subscriber UTP feeds issues +1 212 231 5180
Four Irvington Centre
805 King Farm Boulevard
Rockville, MD 20850


Email: admin@utpplan.com
Phone: +1 301 978 8080
Fax: +1 301 978 5295

System Description

DataFeed Approval Request


Vendor Alerts

System Alerts


System Alerts

Vendor Alerts

DataFeed Status

Data Piracy Reporting