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Friday, November 10, 2017

Data Technical News #2017 - 36
Nasdaq Announces Activation of Country of Issuance and Currency Fields

Market Impacted:

Product Impacted:

Contact Information:

What you need to know:

    In an effort to expand the Nasdaq Mutual Fund Quotation Service (MFQS) and make it available for non-US funds, Nasdaq is activating the Country of Issuance field and the Currency field, effective Monday, November 20, 2017.

What is changing?

Effective Monday, November 20, 2017, Nasdaq will activate two existing fields to allow for foreign issued funds. These new fields will allow issuers to list their foreign funds and the currency they are traded in.

Code Characters Value Purpose
– 2 characters alpha Country of Issuance Nasdaq is activating values for Country of Issuance to include countries other than the United States.
– 3 characters alpha Currency Nasdaq is offering listing to countries outside of the US. The currency field will be activated to reflect the trade currency for international instruments.

Where can I find the new values for the Country of Issuance and Currency?

To find the eligible codes, please go to the ISO Country Code site and the Currency Code site. Nasdaq uses the two character Country Code list and the three character Currency Codes list.

Will this affect the current MFDS format?

No, the format for Currency is already included in the current MFDS format. Currently this field only lists USD (Currency Code). The activation will allow funds from any country to list with the corresponding currency.

Why is Nasdaq making the change?

Nasdaq has fielded requests to list international funds. To do this, Nasdaq is making upgrades to the MFQS system to allow listing these funds. Activating the Country and Currency fields is a large part of adding these new instruments and making the MFQS system inclusive globally.

How can I test the Country Codes and Currency Codes?

Nasdaq has created sample MFQS Daily List and Symbol Directory files with the new and existing fields to be used for testing. Please use the hyperlinks below to access the MFQS Daily List format file version that your firm uses.

Test Type Date(s) Description
Sample Test Files Friday, October 27, 2017

Sample files for MFQS web services may be downloaded by clicking on the links below. CUSIP field was deliberately left blank.

MFQS Daily List - Advanced

MFQS Daily List - Next Day

MFQS Directory (Web)

Saturday User Acceptance Tests (UAT)

Saturday, November 18, 2017 (Confidence Test)

During UATs, Nasdaq staff and MFQS pricing agents will enter data via the MFQS production system from 8:00 a.m. to 12:00 p.m., ET.

Note: Given that Nasdaq will be making website changes as part of this release, it strongly recommends that firms test the MFQS Daily List; and MFDS Web Access subscribers take advantage of the UAT opportunities for this release.

Firms wishing to participate in the UATs should complete and submit the MFQS testing registration form to Nasdaq Mutual Fund Operations by the Thursday before the scheduled test date.

Where can I find additional information?

Contact Nasdaq Mutual Fund Operations at +1 301 978 5307 (Option #6).

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Nasdaq (Nasdaq: NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables clients 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 85 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,800 listed companies with a market value of $10.1 trillion and nearly 18,000 corporate clients. To learn more, visit: www.nasdaq.com/ambition or business.nasdaq.com.

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