Tuesday, June 19, 2012

Data News #2012 - 10
NASDAQ OMX Provides Additional Information on Nordic Net Reporting Program/Updates Global Data Policies

What is Nordic Net Reporting?

The Nordic Net Reporting Program [“Program”] allows approved Distributors to directly report to NASDAQ OMX internal display usage of Nordic Equity Information by User, rather than by interrogation device or user ID and password. This is an optional program and to participate, each Distributor must apply for consideration and be approved in writing by NASDAQ OMX. At this time, the Program is limited to Nordic Equity Level 1, Nordic Equity Level 2 and Nordic Equity TotalView Business Subscribers. Non-Display and Private usage are not covered under this policy.

How does a Distributor qualify to participate in the Nordic Net Reporting Program?

NASDAQ OMX has posted all of the requirements for the Program in the NASDAQ OMX Global Data Policies document, including, but not limited to:

• Distributors must demonstrate adequate internal controls to entitle, monitor and report all internal display usage directly to NASDAQ OMX;
• NASDAQ OMX must verify compliance of controls through a NASDAQ OMX Audit;
• Distributor must submit detailed reporting according to NASDAQ OMX requirements for a minimum of three (3) months.

Please contact your NASDAQ OMX Account Manager for all the acceptance criteria and to begin the process.

How does a Distributor report to NASDAQ OMX in the Program?

Distributors shall continue to comply with NASDAQ OMX’s reporting requirements per the NASDAQ OMX Global Data Policies by reporting usage to NASDAQ OMX each month, via the Nordic Net Reporting spreadsheet. NASDAQ OMX reserves the right to reject files not sent in the required format. Changes to the format of the spreadsheet are not permitted.

Distributor's usage of Nordic Equity Information through a Data Vendor shall be covered only to the extent Distributor informs Data Vendor of this Program, and copies NASDAQ OMX on the notification, and the Data Vendor agrees to report such usage as non-billable. Distributors will be required to notify their Data Vendors once approved for Nordic Net Reporting. Data Vendors will then be authorized to report all Distributors’ Subscribers receiving Nordic Equity Information to NASDAQ OMX under non-billable codes.

Note: NASDAQ OMX will issue only one monthly invoice to Distributors in the Program.

Upon termination, Distributor is required to provide NASDAQ OMX with a comprehensive list of all Data Vendor-reported Subscribers that are reporting under a non-billable code on behalf of the Distributor and to provide each such Data Vendor with a written notification indicating the end month; such notice must also be sent to NASDAQ OMX.

Data Vendor display usage submitted on behalf of the Distributor must continue to abide by the NASDAQ OMX Requirements, including the submission of both Summary and Detailed usage reporting to NASDAQ OMX on a monthly basis. Failure of NASDAQ OMX to receive the associated Data Vendor reported usage for Distributor will be reason for NASDAQ OMX to decline the netting request for those Subscribers. In addition, failure of NASDAQ OMX to receive the associated Distributor reported usage will also be a reason for NASDAQ OMX to decline the netting request.

Which Data Policies have been updated?

NASDAQ OMX has updated the NASDAQ OMX Global Data Policies to include the Nordic Net Reporting Program and other recent policy changes including:

• Added pricing details for BX Options and PHLX Depth of Market
• Updated pricing for the NASDAQ U.S. Depth [TotalView/OpenView/Level 2] Non-Professional Display Enterprise License to $500,000 per month
• Added Nordic Historical Data distribution policy
• Added Nordic Net Reporting Program information
• Added new Nordic Historical Data policy for Academics

Please email dataops@nasdaqomx.com for a redlined copy of the NASDAQ OMX Global Data Policies document.

Where can I find additional information?

• Refer to the NASDAQ OMX Nordic Pricing.
• Contact NASDAQ OMX Global Data Products at +1 301 978 5307 (Option #2).