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Wednesday, March 18, 2009

Data News #2009 - 15
NASDAQ OMX Releases Version 3.0 of the NASDAQ OMX Global Data Agreement

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.
  • The NASDAQ OMX Global Data Agreement was required of all firms by February 28, 2009. 
  • As of today, Wednesday, March 18, 2009, NASDAQ OMX will replace all versions of the Global Data Agreement with NASDAQ OMX Global Data Agreement – Version 3.0.
  • Firms that have already submitted a previous version of the Global Data Agreement are not obligated to re-submit Version 3.0.

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, Wednesday, March 18, 2009, NASDAQ OMXSM released the NASDAQ OMX Global Data Agreement – Version 3.0, 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 June 16, 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:

  • Same rights applied to "Affiliates" as to "Distributors"
  • Increase of Claim Time Limit to three years
  • Definition of "Service Facilitator"
  • Clarification of the "License to Use Information, Proprietary Rights" to indicate intentional vs. unintentional violations and to clarify proprietary rights of data
  • Clarification of the audit process

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 3.0. Previous versions of the Agreement will no longer be accepted after March 18, 2009.
  • Existing NASDAQ OMX Data Feed Recipients - All existing NASDAQ OMX data feed recipients will eventually be party to the new agreements. Organizations that have already executed the NASDAQ OMX Global Data Agreement - Version 1.0 or Version 2.0 - are not required to execute a new Agreement as receipt or use of the Information referenced in the Agreements after June 16, 2009, will constitute acceptance of the Agreement as changed.

    Please note that all firms were required to complete and submit the NASDAQ OMX Global Data Agreement by February 28, 2009. If your firm has not yet submitted the agreement, please contact NASDAQ OMX as soon as possible to arrange for an extension. If you fail to execute the agreement, 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.

  • 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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