Overview

To promote market transparency, Nasdaq operates the Mutual Fund Quotation Service (MFQS). MFQS is designed to facilitate the collection and dissemination of daily price, dividends and capital distributions data for mutual funds, money market funds, unit investment trusts (UITs), annuities and structured products. Please refer to the MFQS product page for details.

MFQS Interface Options

In association with the MFQS system, Nasdaq supports the following products:

MFQS Inbound Interfaces:

  • MFQS Valuation Module: This service is used by MFQS issuers and MFQS pricing agents to report daily price data, such as NAVs, offer/market price and total net assets, to the market data community. Nasdaq operates three reporting interfaces, such as a secured website and dedicated CTCI circuit, to meet the customers2019 needs.
  • MFQS Registration Module: This web-based service is used by MFQS issuers and administrators to enter and track new instrument applications and change requests. Firms may also post financial documentation, such as prospectus, annual reports, semi-annual reports and monthly portfolio holding reports via this website for the market data community to access.

MFQS Outbound Interfaces:

  • Mutual Fund Dissemination Service (MFDS): This fixed-format data feed product broadcasts daily valuation information for mutual funds, money market funds, UITs, annuities and structured products to the market data community as it is entered into the MFQS system.
  • MFQS Registration Service / MFQS Daily List: This secured web service provides MFQS security master information to the market data community. For a nominal monthly fee, firms receive access to the MFQS Symbol Directory, MFQS Daily List, MFQS Documentation Posting Service and MFQS Ex-Date Report for all MFQS instruments.

MFQS Inbound Interfaces - Valuation Data

Nasdaq offers the following ways for fund families, trust sponsors and pricing agents to enter daily price and distribution data into the MFQS system:

MFQS Interface Option Brief Description Technical Documentation
MFQS Website - Pricing Agent Access Level
  • Secured web-based display interface that supports real-time data entry into MFQS:
    • Screen-based data entry on security-by-security basis
    • Data file upload feature that allows funds to report multiple funds at one time
  • Using MFQS website, investment companies may also verify price data entered into MFQS via CTCI or FTP reporting method

Technical Interface Documents:

MFQS 0050 Transition Information:

Logon Request Form:

MFQS FTP Server
  • Secured FTP server option enables pricing agents and investment companies to automate the fund price upload process.
  • Publication schedule for FTP option is noted in the specification document.

Technical Support Documentation:

MFQS 0050 Transition Information:

Logon Request Form:

Computer-To-Computer Interface (CTCI)
  • Dedicated circuit into Nasdaq data center that supports fully automated, real-time reporting of MFQS price data
  • CTCI is based on the Common Message Switch protocol

Technical Support Documentation:

Direct Connectivity Options:

MFQS 0050 Transition Information:

Port Request Form:

MFQS Inbound Interface - Instrument Registration Data

In 2011, Nasdaq expanded its MFQS website functionality to support online submission and tracking of MFQS instrument registration applications by fund families and trust sponsors. MFQS issuers may also use the MFQS website to upload financial documentation, such as prospectus, annual reports and semi-annual reports, for the market data community to access.

MFQS Interface Option Brief Description Technical Documentation
MFQS Website - MFQS Issuer Access Level
  • Secured website interface for MFQS issuers and MFQS administrators to:
    • Enter and track new instrument applications and change requests online
    • Post financial documentation such as prospectus, annual / semi-annual reports and monthly portfolio holdings for the market data community to access
Technical Interface Documentation:
Logon Request Form:

MFQS Outbound Interface - Mutual Fund Dissemination Service (MFDS) Data Feed

As firms enter daily prices and distributions into the MFQS system, Nasdaq disseminate the data on a real-time basis via the Mutual Fund Dissemination Service (MFDS) data feed to the market data community.

MFQS Interface Option Brief Description Technical Documentation
Mutual Fund Dissemination Service (MFDS) Data Feed
  • Direct real-time data feed that disseminates MFQS data feed to the market data community

Technical Support: Documentation

MFDS Message Format Release Information for Second Quarter of 2011:

Direct Connectivity Options:

Ordering Forms:

Outbound Interface - MFQS Registration Service/MFQS Daily List

Nasdaq offers access to its MFQS security master database and MFQS documentation repository to the market data community via the MFQS Registration Service/MFQS Daily List product.

MFQS Interface Option Brief Description Technical Documentation
MFQS Registration Service / MFQS Daily List
  • Secured web service that supports the following daily download files:
    • MFQS Symbol Directory
    • MFQS Daily List 2013 Advance Notifications
    • MFQS Daily List 2013 Next Day Actions
    • MFQS Documentation List
    • MFQS Ex-Date Report (as of June 13, 2011)
Technical Interface Documentation:
Ordering Forms: