Friday, March 15, 2013
Data News #2013 - 5
REVISED 3-21-13: NASDAQ OMX Introduces New Optional Managed Data Solution Offering for BX and PSX
Markets Impacted:
Products Impacted:
- BX TotalView
- PSX TotalView
Contact Information:
- NASDAQ OMX Global Data Products at +1 301 978 5307
What you need to know:
- Effective for the service month of March 2013, BX will introduce a new, optional BX Managed Data Solution.
- REVISED 3-21-13: Effective for the service month of March 2013, PSX will introduce a new, optional PSX Managed Data Solution.
- The optional Managed Data Solutions apply to BX TotalView (BX Depth) and PSX TotalView (PSX Depth) uncontrolled datafeed products used by client organizations for internal, non-display use only.
What is a Managed Data Solution?
In response to industry demand and changes in the technical distribution of market data, NASDAQ OMX® has expanded its Managed Data Solution option to the NASDAQ OMX BXSM(BXSM) and NASDAQ OMX PSXSM(PSXSM) markets. This is an option available to Distributors looking to simplify market data administration for their downstream datafeed clients using the data for internal, non-display purposes only. Under the optional fee structure, Distributors may provide datafeeds, Application Programming Interfaces (APIs) or similar automated delivery solutions to client organizations with only limited entitlement controls so long as the Recipient of a Managed Data Solution uses the information for internal, non-display purposes only and does not distribute the information outside of the Recipient’s organization.
In addition to streamline administration, Distributors of Managed Data Solutions are permitted to submit usage reports and payments on behalf of their Managed Data Solution clients. Managed Data Solution Recipients are not required to execute the NASDAQ OMX Global Data Agreement, but rather the Distributor may administer the NASDAQ OMX Global Subscriber Agreement or equivalent along with a simpler System Application.
What are the new BX and PSX Fees for Managed Data Solutions?
The fees to be paid by Distributors offering BX and/or PSX Managed Data Solutions will be as follows:
Fee Schedule for Managed Data Solutions 2013 Non-Display | ||
---|---|---|
Managed Data Solution Administration Fee (For the right to offer Managed Data Solutions to client organizations) |
||
Managed Data Solution Professional Subscriber Fee | ||
Managed Data Solution Non-Professional Subscriber Fee |
Distributors offering Managed Data Solutions continue to be liable for the BX and/or PSX Distributor fees associated with the receipt and distribution of BX and/or PSX data.
How does my firm become an approved Distributor of a Managed Data Solution?
To become a Distributor that is authorized to offer a Managed Data Solution to Recipients, a Distributor must submit the following documents to Dataops@nasdaqomx.com, for each Managed Data Solution system offered to Subscribers:
- NASDAQ OMX Global System Application
- Datafeed Request Form: Online or Hard Copy [if new data is required]
- NASDAQ OMX Global Data Agreement [Required for all firms prior to receipt of the first datafeed only]
After a Distributor is granted permission to provide a Managed Data Solution, each individual Recipient of a Managed Data Solution must be prior approved by NASDAQ OMX as well.
What are my firm's obligations as a Distributor of a Managed Data Solution?
A Distributor offering Managed Data Solutions must:
- Adhere to the NASDAQ OMX approval policy and only authorize clients for Managed Data Solutions after prior approval is received from NASDAQ OMX.
- Report Managed Data Solution clients using the NASDAQ OMX Online Reporting System for Summary Usage Reporting.
- Include Managed Data Solution Recipients under new products codes for Detailed Usage Reporting.
- Offer an integrated data solution with secured data transmissions and data usage monitoring capabilities.
- Offer NASDAQ OMX depth data in its own messaging formats (rather than its raw NASDAQ OMX message formats).
- Assume the liability for any unauthorized use of NASDAQ OMX data by Managed Data Solution recipients.
- Distributors that provide data to an unapproved Recipient or releases Information prior to approval are responsible for paying the Recipient's fees and charges associated with this data during the unauthorized timeframe.
What are my firm's obligations to become approved as a Recipient of a Managed Data Solution?
To become a Recipient that is authorized to receive a Managed Data Solution, the Recipient must submit to Dataops@nasdaqomx.com the following documents for prior approval.
- NASDAQ OMX Global Subscriber Agreement or equivalent [Submit to your Distributor/Data Provider, no approval of the Subscriber Agreement is necessary from NASDAQ OMX]
- NASDAQ OMX Managed Data Solution Application [Submit to NASDAQ OMX]
NASDAQ OMX will then communicate the approval of each client to both the Distributor and the Recipient via email.
Where can I find additional pricing information?
The full price lists are accessible at the following links:
Where can I find additional information?
- Refer to the NASDAQ OMX Global Data Products Administration Page.
- Contact NASDAQ OMX Global Data Products at +1 301 978 5307 or +45 339 333 66.
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