Last updated: November 1, 2026
Wealth Data Platform Pricing and Market Data Feed Costs
A wealth platform's data bill has three layers — the terminal, the exchange feed, and the aggregation platform — and each one prices by a different logic.
The terminal: the anchor price of the whole stack
Every wealth-data budget is negotiated in the shadow of one number. A single Bloomberg Terminal seat runs $31,980 a year — $2,665 a month — with multi-seat sites at $28,320 per seat per year ($2,360 a month), according to 2026 pricing coverage, and Bloomberg sells it on a two-year contract rather than month to month. The terminal bundles real-time data, news, analytics, and the messaging network that connects more than 350,000 decision-makers; leaving it costs a desk its counterparties, not just a feed, which is why the price has moved in only one direction.
The exchange layer: priced by the schedule, not the salesman
Below the terminal sits the exchange layer, where prices are public because they have to be: fee schedules filed with regulators. Nasdaq's Depth-of-Book schedule sets TotalView display pricing for professional subscribers at $84.00 per month operative January 1, 2026, up from $80.50 operative January 1, 2025, with non-professional subscribers at $15. For non-display use via direct access, the first 1–39 subscribers run $412 per subscriber per month operative January 1, 2026. The schedule also shows the scale cliff: a firm with 250 or more direct-access subscribers pays $75,000 per firm per month. Broker-published market-data pricing fills in the rest of the shelf: NYSE Network A professional at $45 per month, Nasdaq Network C professional at $25, NYSE ArcaBook professional at $65, and Nasdaq TotalView-OpenView professional at $90, all via Interactive Brokers' published pricing page.
| Feed (via Interactive Brokers published pricing) | Professional, per month | Non-professional, per month |
|---|---|---|
| NYSE Network A / CTA (Level 1) | $45.00 | $1.50 |
| Nasdaq Network C / UTP (Level 1) | $25.00 | $1.50 |
| NYSE ArcaBook (Level 1, Level 2) | $65.00 | $11.00 |
| Nasdaq TotalView-OpenView (Level 1, Level 2) | $90.00 | $16.50 |
| Nasdaq BX TotalView (Level 1, Level 2) | $48.00 | $3.50 |
Source: Interactive Brokers market-data pricing page — source
The structure matters more than any single line. A wealth platform pays the terminal price for humans, the exchange schedule for feeds, and a platform fee for aggregation — three different pricing logics stacked into one bill. Firms that audit only the top line miss the middle layer, where subscriber counts and display-versus-non-display classifications quietly decide whether the invoice is thousands or tens of thousands a month.
Changelog
- October 2026: First edition. Figures compiled from the public sources listed below; trend baselines set where no prior-period figure was published by the same source.
- November 2026: Bloomberg scheduled January 1, 2027 prices added (single seat $33,840/year, multi-seat $30,000/year per seat), as reported from Bloomberg's client email; 2026 prices retained as the current-year figures.
Sources
- Bloomberg Terminal pricing, 2026 — https://www.bluegamma.io/post/bloomberg-terminal-pricing
- Bloomberg Terminal cost calculator, 2026 — https://costbench.com/software/financial-data-terminals/bloomberg-terminal/calculator/
- Bloomberg Terminal 2027 scheduled pricing — https://marketterminal.com/blog/bloomberg-terminal-cost
- Nasdaq Equity 7 Pricing Schedule, TotalView (SR-NASDAQ-2026-076) — https://listingcenter.nasdaq.com/assets/rulebook/nasdaq/filings/SR-NASDAQ-2026-076.pdf
- Interactive Brokers market-data pricing page — https://www.interactivebrokers.com/en/pricing/market-data-pricing.php?menu=A