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Friday, October 2, 2009

Data News #2009 - 40
NASDAQ OMX Revises NASDAQ OMX Global Subscriber Agreement

Markets Impacted:

  • All Markets

Products Impacted:

  • All Products

Contact Information:

What you need to know:

  • NASDAQ OMX has revised the Global Subscriber Agreement to reflect slightly revised terms for customers.
  • As of today, Friday, October 2, 2009, NASDAQ OMX will replace all versions of the Global Subscriber Agreement with NASDAQ OMX Global Subscriber Agreement – Version 1.1.
  • Distributors are required to begin offering this version of the subscriber agreement (or the equivalent indemnification version) to new subscribers by January 1, 2010.
  • Distributors are not required to re-administer the NASDAQ OMX Global Subscriber Agreement to any subscriber that has a previous NASDAQ OMX version of such on file.

What is changing?

Today, Friday, October 2, 2009, NASDAQ OMXSM released the NASDAQ OMX Global Subscriber Agreement – Version 1.1, a new version of the Global Subscriber Agreement revised reflecting slightly revised terms for customers. NASDAQ OMX is also posting a redline version for review. Most importantly, NASDAQ OMX has revised Appendix 1 to include the accurate information for NASDAQ OMX Commodities AS.

What do I need to do?

Distributors are required to begin offering this version of the subscriber agreement to their new subscribers by January 1, 2010. Distributors are not required to re-administer the new version of the agreement to any subscriber that has a previous NASDAQ OMX version of such on file.

Is my firm required to wait until January 1, 2010, to begin offering the new version of the Subcriber Agreement?

No, distributors may begin offering this version of the agreement to their new subscribers on Friday, October 2, 2009.

Does this change affect data feed recipients?

No, it is NASDAQ OMX’s policy that the NASDAQ OMX Global Subscriber Agreement is administered to all end-user subscriber firms and/or individuals of NASDAQ OMX real-time data on distributor-controlled devices but not to subscribers of data feed services.

Do distributors need to submit the NASDAQ OMX Global Subscriber Agreement?

No, as always, distributors should not submit copies of the new subscriber agreement to NASDAQ OMX, but should keep a copy on file at their location.

As a distributor, is my firm required to offer the exact text of the NASDAQ OMX Global Subscriber Agreement?

Yes, if your firm offers hard copy, online or incorporation by reference versions to subscribers, your firm must offer the exact text as provided in the NASDAQ OMX Global Subscriber Agreement. To streamline administrations, please review the “Distributor Indemnification” option in the NASDAQ OMX Global Subscriber Agreement package.

Where can I find additional information?

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