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Monday, February 9, 2009

Data News #2009 - 11
NASDAQ OMX Revises Global Data Agreement; Submission May Be Required

Markets Impacted:

  • All Markets

Products Impacted:

  • All Products

Contact Information:

What you need to know:

  • NASDAQ OMX has revised the Global Data Agreement to reflect improved terms for customers.
  • Organizations that have not yet submitted the NASDAQ OMX Global Data Agreement are required to execute Version 2.0 by February 28, 2009.
  • Organizations that have executed Version 1.0 of the NASDAQ OMX Global Data Agreement do not need to submit Version 2.0.
  • As of today, Monday, February 9, 2009, NASDAQ OMX will replace all versions of the Global Data Agreement with NASDAQ OMX Global Data Agreement – Version 2.0.

Important Note about NASDAQ OMX alerts:

If you wish to continue to receive NASDAQ OMX news alerts such as this one, you must complete the enrollment form, and create a personal profile on the NASDAQ OMX Trader website before March 2, 2009.

Overview:

Today, Monday, February 9, 2009, NASDAQ OMXSM released the NASDAQ OMX Global Data Agreement – Version 2.0, a new version of the Global Data Agreement revised to reflect improved terms for customers. NASDAQ OMX is also posting a redline version.

Revised Global Data Agreement:

This Data News Item serves as notification that NASDAQ OMX is altering the terms of the NASDAQ OMX Global Data Agreement. Per the terms of the Agreement, NASDAQ OMX may alter any term or condition of the Agreement upon notice to Distributor. In an effort to simplify the paperwork, Distributors are not required to execute the new version of the Agreement.

Receipt or use of the information referenced in the Agreement after May 9, 2009, will constitute acceptance of the Agreement, as changed.

Changes to the new Global Data Agreement:

The new version of the agreement reflects improved terms for customers, including:

  • Expansion of the length of written notice provided by NASDAQ OMX to terminate the contract to 90 days
  • Clarification of the definitions of External Subscriber and Internal Subscriber
  • Increase in the late reporting timeframe increased to 45 days after the due date
  • Agreement that no distributor will be audited by NASDAQ OMX more than once in a 12-month time period, unless necessary due to suspected non-compliance
  • Inclusion of a Service Facilitator clause relating to dissemination of data in distributor’s service, according to specified conditions
  • Inclusion of additional NASDAQ OMX Information, as described in Appendix 1 of the Agreement

Customer Obligations:

  • New NASDAQ OMX Data Feed Recipients - New NASDAQ OMX data feed recipients should complete and submit the NASDAQ OMX Global Data Agreement – Version 2.0. Previous versions of the Agreement will no longer be accepted after February 9, 2009.
  • Existing NASDAQ OMX Data Feed Recipients - All existing NASDAQ OMX data feed recipients will eventually be party to the new agreements.
    • For organizations that have not yet submitted the agreement, NASDAQ OMX requires execution of the NASDAQ OMX Global Data Agreement – Version 2.0 by February 28, 2009. If your organization’s paperwork is not received by February 28, 2009, NASDAQ OMX will assume that your organization has canceled service and will process your account accordingly, which may involve disconnection of NASDAQ OMX proprietary service.
    • Organizations that have already executed the NASDAQ OMX Global Data Agreement - Version 1.0 are not required to execute a new Agreement as receipt or use of the Information referenced in the Agreements after May 9, 2009, will constitute acceptance of the Agreement as changed.
  • End-User Subscribers - Current subscribers to stand-alone data products are not affected at this time.

Additional Information:

For additional product, pricing or policy information and resources, please refer to the NASDAQ OMX Global Data Products Administration page on the NASDAQ OMX Trader® website.

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