A New, Unified Consolidated Tape
US Consolidated TapeTM provides real-time consolidated market data for all US National Market System stocks across Tapes A, B and C. The new CT Plan has been mandated by the SEC to replace the existing CTA and UTP Plans under a new, unified governance structure with a single set of policies, a single fee schedule and a single Administrator — streamlining administration, enhancing transparency and delivering greater efficiency across the industry. New to the tape? Start with what the consolidated tape is.
The transition starts now: All Subscribers and Distributors must enter into a new licensing agreement with DataCT, the new Administrator, prior to March 1, 2027. The licensing portal will be launched shortly - register your organization to migrate your legacy CTA & UTP accounts to consolidatedtape.com.
Key dates
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2026–27
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LEGACY CTA & UTP ACCOUNT MIGRATION
SEP 01, 2026
Portal opens for existing CTA and UTP customers to manage their account migration.
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LICENSING BEGINS
OCT 01, 2026
Licensing portal opens for generation of new CT Plan Licenses.
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LICENSING DEADLINE
MAR 01 2027
Deadline to complete new CT Plan Licensing Agreements.
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GO LIVE
APR 01 2027
CT Plan becomes operative. CT Plan Fees and Policies become effective. Reporting, billing and compliance managed by new Administrator, DataCT.
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Transition Plan
Transition to the CT Plan
Executive Summary
What you need to know: On April 1, 2027 the CTA and UTP Plans are replaced by the unified CT Plan, administered by DataCT. Your legacy account information will be migrated — but new agreements are required, and firms that have not executed them by March 1, 2027 will not be authorized to receive US Consolidated Tape data after April 1, 2027.
What you need to do: Register your firm today so DataCT can reach the right people when migration outreach begins in September 2026, and start legal review of the new Data Usage Agreement and Distribution Agreement now.
Background
From the Operative Date — currently planned for April 1, 2027 — the US Consolidated Tape Plans will be unified under a single Fee Structure and Policy framework. The current, separate CTA Plan (Tapes A and B) and UTP Plan (Tape C) which set fees and policies for the use and dissemination of market data for US National Market System equity securities will merge into one unified CT Plan covering all US Consolidated Tape data.
The new unified CT Plan significantly simplifies and streamlines market data administration under a single CT Administrator, DataCT LLC, operating on behalf of the CT Plan under the oversight of CT Plan LLC and its Operating Committee.
No technology changes required
No technology changes are required for this transition — there are no associated changes to the Securities Information Processors (SIPs) operated by SIAC (NYSE) and Nasdaq.
New Agreements, Policies and Fees
Customers will be required to sign and adopt new agreements for Usage and Distribution of US Consolidated Tape data by March 1, 2027.
New Administrator
DataCT has been appointed as the Administrator for the CT Plan replacing the two legacy Administrators NYSE and Nasdaq as the respective Administrators for CTA and UTP Plans. DataCT manages all licensing, reporting, billing, compliance and support working closely with the Securities Information Processors (SIPs) who operate Tape A, B and C.
New Digital Administration Platform
Consolidatedtape.com is the home for all things administration of the US Consolidated Tape supported by DataCT, the new independent administrator. Consolidatedtape.com is the new digital administrative portal for licensing, usage reporting, billing and support and provides a single point of reference for policies, fees and contact information.
You can get started today by registering your organization on the portal at consolidatedtape.com. DataCT will support your overall transition to the CT Plan, including migrating your legacy CTA and UTP account information, agreements, usage reporting, billing and compliance history across to the new Plan and Administration system to support a smooth transition.
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Transition Steps
What You Need To Do
Transition steps that every customer needs to take.
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Start Today
Register for your organization’s legacy CTA and UTP account migration at consolidatedtape.com/register. DataCT will begin contacting customers for account migration starting September 1, 2026.
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Complete your new agreements
START TODAYYou will be required to sign the new agreements and conform with the new CT Plan policies by March 1, 2027. Each firm executes the new Data Usage Agreement and/or Distribution Agreement for all three Tapes and replacing its legacy CTA and UTP agreements. Legal review can take time — start today! The agreement templates are available at: consolidatedtape.com/agreements.
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Complete your new licenses
Mar 01 2027From October 1, the Licensing portal is available for generating new CT Plan licenses. The portal will provide your legacy CTA & UTP licenses and help you determine what information is required and any new agreements or schedules required. DataCT will be ready to assist you. Registered users will receive an invitation to access the Licensing portal when it becomes available.
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Reporting and billing transition
APR 01 2027 · PLANNEDThe CT Plan usage reporting and billing transition begins April 2027. From this point, all reporting obligations and processes become effective and invoices and payments are made with the new Administrator.
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Stay informed
ONGOINGKeep up to date with the transition, changes and updates by joining our mailing list.
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Background
Regulatory Mandate
In May 2020, the SEC adopted the Governance Order (Release No. 34-88827), directing US National Market System exchanges and FINRA to file a single new national market system plan. And so, the CT Plan was born with a mandate to replace the separate CTA and UTP Plans with one consolidated governance structure. The order was later amended in September 2023. The CT Plan LLC was approved as the new oversight organization of members which form the Operating Committee in Nov 2024. In 2025, DataCT LLC was appointed Independent Administrator. The CT Plan fee schedule was filed for approval in December 2025 and approved in June 2026 for April 2027 implementation.
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MAY 2020
SEC adopts the Governance Order (Release No. 34-88827)
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SEP 2023
The Governance Order is amended
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Nov 2024
CT Plan LLC approved · members form the Operating Committee
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Dec 2025
DataCT appointed as Independent Administrator for the CT Plan
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JUN 2026
New CT Plan Fees Approved by the SEC
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APR 2027
Implementation — the unified CT Plan becomes operative
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Agreements
New Agreements
The new agreements govern Access, Usage and Distribution of CT Data. The legacy CTA and UTP agreements are replaced by a new Data Usage Agreement and a new Distribution Agreement, each providing terms and conditions for Tapes A, B and C, with an associated Exhibit A for customer-specific terms and Data Licenses for each use case.
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Policies
New Policies
One set of Policies will cover Tapes A, B and C under the CT Plan. The new Policies are intended to accompany the agreements and Data License. The Policies do not grant rights themselves but provide guidance for the implementation of Data Licenses. Use-based subscriber classification, per-person Non-Professional counting and clear guidance for modern use cases — including APIs, datasets and AI — reflect how market data is accessed and used today.
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Fees
New Fees
The CT Plan fees were approved June 27, 2026 for Tapes A, B and C. A single, simplified fees structure applying to all three Tapes.
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