Depth of Book Display Sample Clauses

Depth of Book Display. The Operating Committee has determined that the entity that succeeds Nasdaq as the Processor should have the ability to collect, consolidate, and disseminate quotations at multiple price levels beyond the best bid and best offer from any Participant that voluntarily chooses to submit such quotations while determining that no Participant shall be required to submit such information. The Operating Committee has further determined that the costs of developing, collecting, processing, and disseminating such depth of book data shall be borne exclusively by those Participants that choose to submit this information to the Processor, by whatever allocation those Participants may choose among themselves. The Operating Committee has determined further that the primary purpose of the Processor is the collection, processing and dissemination of best bid, best offer and last sale information (‘‘core data’’), and as such, the Participants will adopt procedures to ensure that such functionality in no way hinders the collecting, processing and dissemination of this core data. Therefore, implementing the depth of book display functionality will require a plan amendment that addresses all pertinent issues, including: (1) Procedures for ensuring that the fully-loaded cost of the collection, processing, and dissemination of depth- of-book information will be tracked and invoiced directly to those Plan Participants that voluntarily choose to send that data, voluntarily, to the Processor, allocating in whatever manner those Participants might agree; and (2) Necessary safeguards the Processor will take to ensure that its processing of depth-of-book data will not impede or hamper, in any way, its core Processor functionality of collecting, consolidating, and disseminating National Best Bid and Offer data, exchange best bid and offer data, and consolidated last sale data. Upon approval of a Plan amendment implementing depth of book display, this article of the Plan shall be automatically deleted. In witness whereof, this Plan has been executed as of the day of , 200_, by each of the Signatories hereto. American Stock Exchange LLC By: llllllllllllllll Boston Stock Exchange, Inc. By: llllllllllllllll Chicago Stock Exchange, Inc. By: llllllllllllllll Chicago Board Options Exchange, Inc. By: llllllllllllllll International Securities Exchange, Inc. By: llllllllllllllll NASD By: llllllllllllllll National Stock Exchange, Inc. By: llllllllllllllll NYSE Arca, Inc. By: llllllllllllllll Phil...