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Monday, July 22, 2019

Data Technical News #2019 - 14
UPDATE: Nasdaq to Modify Nasdaq Fund Network Data Service (NFNDS) and NFN Daily List to Support Model Portfolio on Monday, September 23, 2019

Markets Impacted:

Product Impacted:

Contact Information:

What you need to know:

Updated July 18, 2019:

Effective Monday, September 23, 2019, Nasdaq will implement changes to the Nasdaq Fund Network Data Service and NFN Daily list to support Model Portfolio.

  • Nasdaq will add a Model Portfolio flag to NFNDS Symbol Directory and NFN Daily List files.
  • Nasdaq will add a Model Portfolio flag to the Ex-Date report and other NFN web reports.
  • Nasdaq will add “Total Assets Under Management Date” to the Issuer Directory.
  • Nasdaq will add “Creation Date” field to NFN Document Posting Service.
  • Nasdaq will remove the “Asset Under Management” field and “Asset Under Management Date” field on the NFN Daily List.

What is changing?

Beginning Monday, September 23, 2019, Nasdaq will implement the following changes to the Nasdaq Fund Network Data Service and NFN Daily list. The changes are outlined below:

The field being added to NFN Daily List, and NFNDS Symbol Directory:

Data Field Field Format Purpose
Model Portfolio 1 byte, alpha Indicates that the instrument is a Model Portfolio. A Model Portfolio is a combination of managed investments which are research and used across a portfolio for the purpose of blending various asset classes, equities, or other investments. Investment managers build Model Portfolios to meet various investment styles and objectives to achieve diversification.

The field being added to NFN Issuer Directory:

Data Field Field Format Description
Assets Under Management Date Date, MM/DD/YYYY Indicates the “As of” Date associated with the Assets Under Management field. This field will only be populated if the Assets Under Management is provided.

The field being added to NFN Document Repository:

Data Field Field Format Description
Creation Date Date, MM/DD/YYYY Denotes the creation date of the document in the NFN system.

The fields being removed from NFN Daily List and Symbol Directory:

Data Field Field Format Description
Assets Under Management 25 bytes, alphanumeric Denotes the total market value of assets that an investment company or financial institution manages on behalf of investors.
Assets Under Management Date Date, MM/DD/YYYY Indicates the “As of” Date associated with the Assets Under Management field. This field will only be populated if the Assets Under Management is provided.

How will the NFNDS data feed formats be changing?

Nasdaq will release the following NFNDS data feed message changes as a hot cut release:

  • Model Portfolio Flag: NFNDS will add a new field named Model Portfolio to the NFN Symbol Directory Message (Category A – Type K). Nasdaq will populate the field with “Y” or “N”. When field is “Y” it denotes that the Instrument is a Model Portfolio.

Please refer to the NFNDS specification document for details on the outbound data feed message formats.

How will the NFN Daily List file formats be changing?

Nasdaq will add the following NFN Daily List report changes:

  • Model Portfolio Flag: Nasdaq will add a Model Portfolio Flag to the NFN Daily List file to clearly delineate Model Portfolio from other instruments in the NFN system.
  • Nasdaq will remove the “Asset Under Management” field and “Asset Under Management Date” field on the NFN Daily List.
  • Nasdaq will add “Creation Date” field to NFN Document Posting Service.

Please refer to the NFN Daily List specification document for full report details.

Should the new fields be displayed to downstream NFNDS data clients?

Nasdaq strongly recommends that market data distributors include the Model Portfolio field as part of NFN security master data to downstream data users.

What testing opportunities will Nasdaq offer for the NFN and NFNDS format changes?

UPDATE 08/30/2019: In preparation for the NFN Model Portfolio release, Nasdaq will offer the following client testing opportunities:

Testing Type Description Supported Products Dates
Weekday Evening Test Data Dissemination
 Nasdaq will broadcast NFNDS pre-formatted test messages via Nightly test data transmission IP multicast channels from 9:10p.m. to 10:45p.m., Eastern Time (ET). NFNDS Data Feed Wednesday, August 21, 2019 to Friday, September 20, 2019
Saturday User Acceptance Test (UAT)
 Nasdaq will disseminate test data as it is generated by registered pricing agents and QC staff to the market data community from 8 a.m. to 12 noon, ET. Production IP channels and web site to be used. NFNDS Data Feed
NFN Daily List
NFN Directory
Ex-Date Report
Other NFN web reports		 Saturday, September 7, 2019

Saturday, September 21, 2019

UPDATE 08/30/2019: Nightly test data transmission IP multicast channels information:

Site Channel/Purpose Group Port Source IP Address
NFN Data Service Test Data Multicast Channel A 224.3.0.47 55474 206.200.162.31
NFN Data Service Test Data Multicast Channel B 224.3.0.55 55475 206.200.162.159

Firms wishing to participate in the Saturday UATs should complete and submit the NFN testing registration form to NFN Operations by the Thursday before the scheduled test date.

Questions about NFN testing opportunities should be directed to NFN Operations.

Sample files for NFN web services may be downloaded by clicking on the links below.

NFN Daily List - Advanced

NFN Daily List - NextDay

NFN Documentation

NFN Directory

NFN Ex-Date Report

NFNDS Valuation File – Mutual Funds, UITs and other asset classes

NFNDS Valuation File – Money Market Funds

NFNDS Valuation File – Dividends

NFNDS Valuation File – Distributions

Where can I get additional information?

Contact NFN Operations at +1 301 978 5307 (Option #6).


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