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Friday, April 11, 2014

Data News #2014 - 4
NASDAQ OMX Provides Additional Information on the NASDAQ Basic Net Reporting Program and the NASDAQ Basic Enterprise License

Markets Impacted:

  • The NASDAQ Stock Market

Products Impacted:

  • NASDAQ Basic

Contact Information:

What you need to know:

  • As announced in Data News #2013-9, the optional NASDAQ Basic Net Reporting Program [“Program”] and NASDAQ Basic Enterprise License became effective as of January 1, 2014.
  • The Program is only available for Internal Professional Display usage associated with each Distributor. Non-Display usage, Non-Professional usage, and External Subscriber usage are not covered under this Program.
  • The Enterprise License will allow a Distributor to license NASDAQ Basic Professional/Display Internal Subscribers for each Controlled Display Redistributor.
 

What is the NASDAQ Basic Net Reporting Program?

Effective January 1, 2014, NASDAQ OMX® announced the NASDAQ Basic Net Reporting Program. The Program is available to Distributors who have met the outlined criteria, and have notified NASDAQ OMX in advance and in writing for their approval. The Program is only available for Internal Professional Display usage associated with each Distributor. Non-Display usage, Non-Professional usage, and External Subscriber usage are not covered under this Program.

The Program will allow approved Distributors to report NASDAQ Basic Internal Professional Subscribers on a per user basis per the following:

  • Net Report all instances associated with a single NASDAQ Basic Internal Professional Subscriber.
  • Net Report all Redistributor-Controlled Devices associated with that individual Subscriber provided by a single Redistributor.

For more information, please reference the NASDAQ OMX Global Data Policies document under Net Reporting: NASDAQ BASIC.

How does a Distributor qualify to participate in the Program?

Each Distributor will be required to meet the following acceptance criteria in order to benefit from this initiative:

  • Distributor is required to contact their NASDAQ OMX Account Manager in writing to express their intent to participate in the Program.
  • Distributors must demonstrate adequate internal controls for: Entitlements, Monitoring, and reporting all internal usage directly to NASDAQ OMX.

What is the Unit of Count for NASDAQ Basic?

Currently, Distributors are required to count and report on a Per Subscriber basis for NASDAQ Basic. Only Distributors that are approved for the Program will be permitted to count and report on a Per User basis. Please see the NASDAQ OMX Global Data Policies document for the definition of Per User reporting.

What is the NASDAQ Basic Enterprise License?

Effective January 1, 2014, NASDAQ OMX announced an Enterprise License for NASDAQ Basic. Under the Enterprise License, a broker-dealer may distribute NASDAQ Basic for a flat fee of $365,000 per month; provided, however, if the broker-dealer obtains the license with respect to usage of NASDAQ Basic on a Redistributor Controlled Device, then the fee will be $365,000 per month for up to 16,000 Internal Professional Display Subscribers, plus $2 for each additional Internal Professional Display Subscriber over 16,000. An Enterprise License can be applied to a Distributor’s Internal Controlled Devices. Each Redistributor Controlled Device would require its own separate and distinct Enterprise License.

Firms wishing to move to the Enterprise License should contact their NASDAQ OMX Account Manager. Firms must continue to submit usage reports via the NASDAQ OMX Reporting Application (NORA), or the Basic Inventory Spreadsheet (if applicable).

Where can I find additional information?


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