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Friday, September 22, 2017

Data News #2017 - 10
Nasdaq Announces New Pricing for Nasdaq Global Index Data Service (GIDS), Effective January 1, 2018

Markets Impacted:

  • All Markets

Products Impacted:

Contact Information:

What you need to know:

Effective January 1, 2018, Nasdaq will introduce fee adjustments and tiers to delayed pricing to Global Index Data Service (GIDS) customers.

GIDS is a Nasdaq premier data feed that consolidates all Nasdaq Indexes and ETF valuation data as well as third party data in a single outbound stream.

What is changing?

Effective January 1, 2018 Nasdaq will introduce the following new fees for its Global Index Data Service (GIDS).

Usage Fees New Monthly Fee New Subscriber Tier (if applicable)
*Delayed 15 Minutes Internal $500 1-99
$850 100+
Delayed 15 Minutes External $1000 1-999
$1,500 1000+

How will the new pricing affect my firm?

Your organization may qualify for a different subscriber tier. If you have any questions on your subscriber tier and monthly fee, please contact your Nasdaq Sales Representative at +1 301 978 5307 (Option #1) or + 45 33 93 33 66.

Please note the following:

  • Distributors paying the external real time fee are covered for Internal and Delayed subscribers
  • Distributors paying the real time internal fee are covered for internal delayed
  • Distributors paying the external delayed fee are covered for internal delayed

What are the reporting requirements for Delayed and Real Time GIDS Information distribution?

Distributors should provide the Summary Subscriber Report and determine fees in accordance with the below:

Uncontrolled Products - Uncontrolled Products are defined in the Nasdaq Data Policies. For purposes of reporting the number of GIDS Subscribers and calculating the applicable fees: (a) an Uncontrolled Product distributing GIDS Information internally shall be deemed a Controlled Device; and (b) an Uncontrolled Product distributing GIDS Information externally shall be deemed an Uncontrolled Product.

Non-Display Subscribers - For purposes of reporting Non-Display distribution, the number of Subscribers shall be the greater of: (a) the number of devices, computer terminals or automated services which are entitled to receive or access the Information and that can modify the application in real-time; or b) the number of Devices [usually servers] that receive and benefit from the Information. Nasdaq may also use the terms "Interrogation Device" or "Device" or "Access". For more information on Nasdaq's Non-Display policy, please refer to Data News #2015-9.

Classification - Each Non-Display, Display, Non-Professional and Professional Subscriber shall be classified as an External or Internal Subscriber for purposes of GIDS reporting and fee calculation.

Additional Reporting - For Distributor's summary subscriber reports, Distributor is required to report the number of Subscribers in accordance with the table below as well as any additional reporting requirements detailed herein. Distributor shall also be required to submit a Detailed Subscriber Report in accordance with the Global Data Policy. GIDS Direct Access, Derived, and Hosted Solution subscriber are subject to additional fees.

Controlled Devices/ Uncontrolled Product/ Distribution Reporting of Subscribers Applicable Fees
Controlled Devices Delayed (15 Mins) GIDS Information to Internal Subscribers only Distributor required to report the number of Subscribers GIDS Delayed 15 Mins Distributor Fee — Internal
Delayed (15 Mins) GIDS Information to External Subscribers Only Distributor required to report the number External Subscribers only GIDS Delayed 15 Mins Distributor Fee — External
Delayed (15mins) GIDS Information to Internal and External Subscribers Distributor required to report the number of External Subscribers GIDS Delayed 15 Mins Distributor Fee — External
Uncontrolled Product (external distribution) Delayed (15 Mins) GIDS Information Distributor required to report the number of Subscribers GIDS — Delayed 15 mins Distributor Fee — External

What are the additional reporting requirements for Delayed GIDS Information distribution?

  • Professional and Non-Professional Reporting - Distributors should continue reporting annually the total number of Professional and Non-Professional Subscribers accessing the GIDS Information via a Controlled Device in the NORA system to ensure they are billed correctly within the correct user tier.
  • Data Feed Reporting - A Distributor disseminating GIDS Information via a Data Feed including, but not limited to, XML, JSON and CSV, should count the number of its Data Feeds towards its subscriber tier.

What data does GIDS provide?

More than 40,000 Indexes and 750 ETF Valuation data points are disseminated on the Nasdaq GIDS feed. Nasdaq has partnered with several ETF issuers to add tradeable indexes to the GIDS feed. There are now a total of 300 Global Exchange Traded Products (ETPs) tracking Nasdaq indexes with over $150 billion in AUM. Nasdaq indexes continue to invest in smart beta methodologies to develop a diversified suite of Indexes covering specific themes, trends and industries. The following Index families have seen significant industry-wide adoption and are available on GIDS.

Index Family Description
AlphaDEX Index Family Growth and Value factors Index country and region specific across the large, mid and small cap universe.
BulletShares Indexes Corporate & High Yield Corporate bond indexes.
Commodity Index Family Sector indexes and single indexes based on 33 different futures-based commodities.
Dividend and Income Index Family Largest providers of dividend-themed Indexes in the world.
Dorsey Wright Index Family Leader in Technical Analysis and Relative Strength.
Global Index Series The Nasdaq Global Index (NQGI) benchmark provides the broadest exposure for more than 98% of investable
large-, mid, and small-cap securities. The family is further broken down across segments, regions, countries, sectors, and capitalization size. Free float-adjusted, market cap-weighted methodology utilizes ICB classifications — resulting in indexes calculated as Price Return, Total Return, and Net Total Return in up to seven currencies.
Green Economy Designed to act as a performance indicator of stocks covering areas such as energy efficiency, clean fuels, renewable energy generation, natural resources, water, pollution mitigation and advanced materials.
ISE Index Family Nasdaq ISE Index family spanning asset classes and geographies. There are approximately 20 exchange-traded products with $2.6 Billion assets under management tracking Nasdaq ISE indexes today.
KBW Financial Index Family Targeted exposure to each individual financial sector.
Nasdaq Smart Sectors The Smart Sector Index family is designed to provide economic sector exposure to the most liquid securities in each sector using a smart beta approach.
OMX European Index Family The Nordic Index family is comprised of highly liquid and comprehensive tradable, all share, sector and benchmark indexes.
Riskalyze Index Family The Nasdaq Riskalyze Index seeks to create a diversified portfolio of low volatility securities. The Index family is broken into regions and by market cap type and is measure for liquidity and volatility.
US Classic Index Family Equity offering includes flagship indexes respected globally for their coverage of the world's top profile companies, high-performing portfolios and reflection of micro- and macro-economic factors.
Victory Index Family The Nasdaq Victory Index family offers a diversified portfolio of securities which are forecasted to grow dividends and a Multi-Factor Minimum Volatility methodology which seeks to deliver superior risk-adjusted adjusted returns by constructing rules-based equity portfolios which minimize expected volatility while outperforming over a market cycle.

Additional Improvements

In 2017, Nasdaq completed a technology update of proprietary U.S. equity feeds from Equinix's London International Business Exchange™ (IBX) data center — LD4 — located in Slough, U.K. Nasdaq now offers GIDS, Nasdaq TotalView and Nasdaq Basic from LD4.

Nasdaq has developed a new index interface to capture index data from third-party data partners. The service, called Contributor API (CAPI) allows data partners to connect to Nasdaq via an Application Programming Interface (API) or direct peer-to-peer connection to send real-time and end-of-day information directly to Nasdaq. Nasdaq will distribute this data through one or several of Nasdaq's market-leading dissemination channels. These enhancements will further enrich Nasdaq content and be disseminated directly from the GIDS feed.

Where can I find additional information?



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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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