Nasdaq Alerts Data Users to Consolidated Tape Agreement Changes

Nasdaq Trader posted a DataCT alert on August 19 telling organizations that receive or distribute US consolidated-tape data to prepare for new CT Plan licensing agreements. The alert says DataCT will begin contacting customers on September 1, 2026, with a submission deadline of March 1, 2027, before the new CT Plan is expected to take effect on April 1, 2027.

The notice says the new plan is expected to replace the legacy CTA/CQ and UTP plans with a unified governance structure and a single administrator. Today, Tape A and Tape B are administered under CTA/CQ by NYSE, while Tape C is administered under the UTP Plan by Nasdaq. Under the transition, DataCT would become the administrator of the consolidated-tape plan.

The alert also says there are no technology changes required for the transition and no changes to the Tape A, Tape B or Tape C market-data feeds. Existing agreements remain in effect until the move to the CT Plan.

Why it matters

For traders, this is market-data plumbing rather than a strategy signal, but it affects brokers, vendors and platforms that distribute quotes and trades. Licensing delays or contract mistakes can affect how firms deliver consolidated data to clients.

What to watch next

Watch for customer migration instructions from DataCT, final agreement language, fee-schedule changes, and any broker or vendor notices that explain whether clients need to take action before March 2027.