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Friday, January 8, 2010

Financial Products News #2010 - 4
NASDAQ OMX Delays Implementation of the Russell Global Indexes on GIDS; Offers Temporary FTP Solution for End-of-Day Data

Markets Impacted:

  • All Markets

Data Feeds Impacted:

  • NASDAQ OMX Global Index Data Service (GIDS)

Contact Information:

What you need to know:

  • As announced in Financial Products News #2009-054, The NASDAQ OMX Group had planned to disseminate real-time and end-of-day values for the Russell Global Indexes via NASDAQ OMX Global Index Dissemination Service (GIDS) beginning Monday, January 11, 2010.
  • Due to processing concerns from select vendors, NASDAQ OMX is delaying the implementation of the real-time and end-of-day values for Russell Global Indexes via GIDS.
  • To ensure firms still have access to end-of-day Russell Global Indexes, NASDAQ OMX will be offering a FTP delivery option with the End-of-Day Summary information, beginning Tuesday, January 12, 2010.
  • NASDAQ OMX continues to work with the vendors to resolve data feed processing concerns and determine a new implementation date for the full Russell Global Index data set.

Why is NASDAQ OMX postponing the GIDS implementation date?

As outlined in Financial Products News #2009-054, NASDAQ OMX® announced plans to disseminate real-time and end-of-day summary information for the Russell Global Index data on the NASDAQ OMX Global Index Dissemination ServiceSM (GIDSSM) beginning January 11, 2010. NASDAQ OMX planned to support the End-of-Day Index Summary messages (Category A – Type B) for the Russell Global Indexes on a T+1 basis on the GIDS data feed. Given that the GIDS message formats do not include an explicit date field, some market data vendors expressed concern about the processing of the T+1 data.

In response to these concerns and because of the importance for the end-of-day information, NASDAQ OMX and Russell Investments agreed to delay the dissemination of the 17 real-time Russell Global Indexes dissemination on GIDS.

Will NASDAQ OMX provide Russell Global Index data in any format?

Yes, while the implementation of the Russell Global Indexes dissemination via GIDS is being delayed, NASDAQ OMX will post the End-of-Day Summary data for 326 Russell Global Indexes, on the public NASDAQ OMX FTP server, beginning Tuesday, January 12, 2010. The FTP file will include the summary statistics in a pipe-delimited file format. NASDAQ OMX expects the daily file for the Russell Global Indexes to be posted at approximately 3:00 a.m., Eastern Time (ET) for the previous business day. For details on the FTP file formats, please refer to the Russell Global Index End-of-Day Summary FTP Protocol Specification document.

NASDAQ OMX is implementing this temporary solution as it continues to work with select vendors on a GIDS data feed solution that addresses their concerns with the processing of the Russell Global Index End-of-Day Summary data.

Where can I find additional information?

  • For information about the Russell Global Index family, please visit www.russell.com/indexes or contact Russell Client Service at +1 866 551 0617.
  • For questions about NASDAQ OMX Information, LLC data products, please contact NASDAQ OMX Global Data Products at +1 301 978 5307 or +45 3393 3366.

*Russell Investments is the owner of the trademarks, service marks and copyrights related to its indexes. Russell indexes are unmanaged and cannot be invested in directly.

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