NASDAQ Quotation Dissemination Service Hear it!

NASDAQ Quotation Dissemination Service (NQDS) Finance Definition
A provider of real-time quotation pricing information for market makers and electronic communications networks (ECNs) in the NASDAQ National Market and the NASDAQ SmallCap Market. The ECNs and the market makers are the stock-trading professionals who are responsible for fulfilling the investing public’s buy and sell orders.