How to Become an Order-Entry Firm
NASDAQ is a unique market organization that provides a competitive trading environment and efficient, low-cost execution of orders. There are multiple market participants, including order-entry firms, market makers and electronic communications networks (ECNs) that utilize NASDAQ's trading services.
Definition of an Order-Entry Firm
An order-entry firm is a NASDAQ member firm that enters orders for execution and anonymous display.
- Access the inside bid and ask, as well as individual market maker quotes, for each security traded on NASDAQ.
- Enter orders in all NASDAQ automated services.
- View daily statistical and index-related information.
- View share- and dollar-volume leaders, net gainers and losers.
Order-Entry Registration Process
A prospective order-entry firm must be or must apply to be a NASDAQ member. Firms can be in a pending status when starting their connection process to NASDAQ. For information pertaining to membership requirements, please visit the membership page.
- If you are a NASDAQ member that already has access to NASDAQ connectivity, please have your clearing agency call National Securities Clearing Corporation at +1 800 422 0582 to ensure a clearing arrangement.
- If you are a NASDAQ member, and do not yet have connectivity to the NASDAQ systems, contact NASDAQ Subscriber Services at +1 212 231 5180 to choose an appropriate market participant identifier (MPID) and to establish connectivity through one of the NASDAQ protocols.
- NASDAQ Subscriber Services at +1 212 231 5180