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Friday, July 30, 2010

Data News #2010 - 17
REVISED 9-15-2010: NASDAQ OMX Announces Nordic Equity Fee Adjustments Effective October 1, 2010

Markets Impacted:

  • NASDAQ OMX Nordic

Products Impacted:

  • Nordic Equity
  • Nordic Last Sale
  • Nordic Fixed Income
  • Nordic Derivatives

Contact Information:

What you need to know:

  • REVISED 9-15-2010: Effective October 1, 2010, NASDAQ OMX® will introduce fee adjustments for a number of Nordic data products.
  • With this implementation, NASDAQ OMX will automatically adjust the prices on customer invoices.
 

What fees will be adjusted?

Effective October 1, 2010, NASDAQ OMX will introduce the following pricing for Nordic data products:

Service Level Distributor Fees (per month) Subscriber Fees (per month) Details
Nordic Last Sale (NcLS) Private:
€ 1,000


Business:
€ 2,5001		 Private:
€ 0.60000/
Subscriber

Business:
€ 15/Subscriber		 Includes reference data, price, volume and applicable counterparty information from NASDAQ OMX Nordic and Baltic Markets and the Nordic Trade Reporting Facility.
Nordic Equity Level 1 Private:
€ 1,000

Business:
€ 2,5001		 Private:
€ 1/Subscriber

Business:
€ 29/Subscriber		 Includes single best bid/ask price and volume, individual trades including off book and OTC, indicative and firm uncrossing price and volume, real time and end of day statistics, GlobeNewswire® company news, index values and components. Private use includes NASDAQ OMX Nordic Fixed Income Markets. Distributor Fees for NcLS included.
Nordic Equity Level 2 Private:
€ 1,000

Business:
€ 2,5001		 Private :
€ 5/Subscriber

Business:
€ 56/Subscriber		 Includes bid/ask price and volume aggregated at five price levels and Level 1 data. Private use includes NASDAQ OMX Nordic Fixed Income Markets. Distributor Fees for NcLS/L1 included.

Nordic Equity Total View Private:
€ 1,000

Business:
€ 3,3351		 Private :
€ 10/Subscriber

Business:
    € 74/Subscriber2
 Includes bid/ask price and volume aggregated at 20 price levels or full depth of the book with all quotes and orders, Liquidity Measure Indicators and Level 1 data. Business use includes NASDAQ OMX Nordic Index Weights Distributor Fees for NcLS/L1/L2 included.

Nordic Equity Derived Data Distribution Enterprise License – New Original Works € 1,000

 

 N/A

 

 The right to utilize NASDAQ OMX Nordic Equity real time data to derive new original works for unlimited distribution provided the new original works cannot be reverse engineered in any way back to the underlying NASDAQ OMX Nordic Equity data.

1. 50% discount for members of NASDAQ OMX Nordic Exchange

2. Nordic Equity Direct Access Professional Subscribers fees remain unchanged

Will any other fees be introduced?

Effective January 1, 2011, and in line with the NASDAQ OMX Global pricing structure, NASDAQ OMX will introduce an Annual Administration Fee for NASDAQ OMX Nordic market data distributors. The fee covers the cost of NASDAQ OMX’s data administration, data management and compliance programs for Nordic data products. The fee schedule is as follows:

    NASDAQ OMX Nordic – Annual Administration Fee

    Service Level Annual Administrative Fee (per year)
    Delayed Distribution € 500
    Real-Time Distribution € 1,000

    For distributors of Nordic Information, the Annual Administration Fee will be assessed to all data feed recipients, both internal and external. The fee varies based on whether the data feed received by the distributor receives the data in delayed or real-time format.

    Why is NASDAQ OMX making these changes?

      It has been four years since NASDAQ OMX has completed a comprehensive review of the Nordic equity market data product suite and the regulatory and competitive landscape has changed. Recently, the NASDAQ OMX Nordic Market has strengthened its position in Europe via introduction of CCP and the launch of INET; both initiatives contributing to an increase in number of executed trades as well as international activity, resulting in a substantial increase in performance, quality and value.

        Some of the recent and future planned improvements in data content, feed quality and administration are:

      • Upgrade to the INET platform in Q1 2010, introducing world leading capacity and latency as well as the global standard format for low latency market data - ITCH.
      • Introduction of GENIUM Consolidated Feed in Q1 2009, increasing capacity of the market data platform and lowering latency considerably (from 50ms to 5ms average in the production environment)
      • Implementation of OTC price validation: NASDAQ OMX made a significant upgrade to its Level 1 product by introducing a price filter mechanism to OTC prints; increasing quality and accuracy of the feed as well as reducing risks of outlier effects.
      • Expanded index content: Over the past several years, NASDAQ OMX has continuously added to its index content; approximately 20 new sets of Index updates and components have been added to equity entitlements.
      • Proposal to launch an improved administrative system in Q4 for online system application as well as a single sign-on for Distributors to access their account information including data feeds received, executed contracts, approved system applications, usage reporting and payment information and customer name and address information.

      NASDAQ OMX will continue to strive toward providing the full range of product choices demanded by our global customer base. Feedback is extremely valuable and will always be carefully considered when reviewing future initiatives.

      Where can I find additional information?

      Please follow Nasdaq on Facebook RSS and Twitter.

      Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.

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