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Monday, October 1, 2012

Data News #2012 - 18
NASDAQ OMX Announces New Fee Structure and Enhancements for NASDAQ OMX Daily List and Fundamental Data

Markets Impacted:

  • The NASDAQ Stock Market

Products Impacted:

  • NASDAQ OMX Daily List
  • NASDAQ OMX Fundamental Data

Contact Information:

What you need to know:

  • Effective November 9, 2012, NASDAQ OMX® will enhance the NASDAQ Daily List product providing customers with additional value.
  • NASDAQ OMX will add five new data elements to the NASDAQ Equity With and Without CUSIP file formats.
  • An improved NASDAQ Symbol Directory will be available for download from the secured Daily List web display.
  • Also effective January 1, 2013, NASDAQ OMX will combine the entitlements and revise and simplify the pricing structure for the NASDAQ OMX Daily List and Fundamental Data proprietary data products.

What enhancements will be made to the NASDAQ Daily List product?

On Friday, November 9, 2012, NASDAQ OMX will introduce five new fields in the NASDAQ Equity with and without CUSIP1 file formats. The new fields will be as follows:

  • Country of Incorporation – Provides the country where the issuer of a NASDAQ-listed security was incorporated.
  • Leveraged ETF Flag * – This field will be populated with a value of "Yes" for a leveraged NASDAQ-listed exchange-traded fund (ETF).
  • Leveraged ETF Ratio * – Indicates the ratio at which the leveraged ETF operates as compared to the underlying index.
  • Inverse ETF Flag * – This field will be populated with a value of "Yes" to indicate an inverse NASDAQ-listed ETF.
  • LULD Tier Indicator * – Indicates the tier that a security will be monitored in relation to the Limit Up-Limit Down rule.

*Please note: These new fields are in support of the Limit Up-Limit Down (LULD) rule and will not be populated until the implementation of the rule. The LULD rule is scheduled to be implemented on February 4, 2013, on a one-year pilot basis. For details, refer to the approval order on the SEC website.

In addition to the new data fields, NASDAQ OMX will include an enhanced version of the NASDAQ Symbol Directory on the Daily List online display. Along with the current fields available in the directory, the enhanced symbol directory will include:

  • CUSIP**
  • Dual-listed flag
  • Country of Incorporation
  • Leveraged ETF Flag
  • Leveraged ETF Ratio
  • Inverse ETF Flag
  • LULD Tier Indicator

**Please note: CUSIP will only be available to those subscribers that are currently approved to receive CUSIP data.

What are the pricing changes for Daily List and NASDAQ Fundamental Data products?

Pending Securities and Exchange Commission filing process, effective January 1, 2013, NASDAQ OMX will combine the Daily List and Fundamental Data entitlements. Customers exclusively subscribed to one of the data products will now have access to both Daily List and Fundamental Data on this date for one, low simplified price. There will be no change in how clients access either product.

Effective January 2013, the revised pricing for Daily List and/or Fundamental Data will be as follows:

Distributor Fee Monthly Fee
NASDAQ Daily List and/or Fundamental Data $1500 per organization

Why is NASDAQ OMX implementing this fee change?

NASDAQ OMX has made this change in an effort to keep costs fair for all market data distributors, while simplifying the fees and administration of both products. The new pricing takes into account previous product improvements requested by customers as well as ongoing enhancements that will provide additional value.

Where can I find additional information?

1 CUSIP is a unique nine-character alphanumeric code appearing on the face of each stock or bond certificate that is assigned to a security by Standard & Poor's Corporation. CUSIP numbers are the property of the American Bankers Association (ABA) and are administered by Standard & Poor's. Since NASDAQ neither owns nor controls CUSIP numbers, distributors cannot be authorized to receive the daily list or fundamental data files including CUSIP data unless they have a daily license in place with CUSIP. Distributors please note: NASDAQ is not responsible for obtaining written approval from CUSIP prior to authorizing data distributors to externally redistribute CUSIP data; it is the responsibility of the data distributor to obtain such CUSIP permission for their downstream customers.


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