Friday, February 22, 2013

Financial Products News #2013 - 6
Updated 2/27/2013: Mergent Dividend Achievers Indexes Switch Postponed

Markets Impacted:

  • All Markets

Data Feeds Impacted:

  • Global Data Index Service (GIDS)
  • NASDAQ OMX Global Index Watch (GIW)

Contact Information:

What you need to know:

  • As announced in Financial Product News 2013-2, NASDAQ OMX, in conjunction with NYSE Arca, will transition the dissemination of the Mergent Dividend Achievers indexes.
  • In order to provide the industry additional time to prepare, NASDAQ OMX will postpone the Mergent Dividend Achievers transition until Monday, March 25, 2013.
  • NASDAQ OMX will provide Beta testing for the Dividend Achievers indexes on the NASDAQ OMX proprietary GIDS data feed, effective Monday, March 4, 2013 through Friday, March 22, 2013.
  • Effective Monday, February 25, 2013, most Mergent Dividend Achievers indexes will be renamed as "NASDAQ Dividend Achievers" indexes through all existing access and distribution points.
  • Please click here for a complete list of index symbol and names related to this transition.

Update 2/27/2013:

  • NASDAQ OMX has corrected select index names to include the word "Index". Please refer to the NASDAQ Achievers list for complete index symbols and names.

Beta Test Schedule Details:

  • Effective Monday, March 4, 2013, Dividend Achievers Beta testing begins:
  • NASDAQ OMX will begin dissemination of temporary indexes via GIDS and GIW for testing purposes.
  • NYSE Arca will continue to disseminate indexes via the NYSE GIF index data service under the current symbols.
  • Effective close of business on Friday, March 22, 2013:
  • NYSE Arca will cease dissemination of their versions via the NYSE GIF index data service.
  • NASDAQ OMX will cease dissemination of the temporary index versions.
  • Beginning Monday, March 25, 2013:
  • NASDAQ OMX will begin disseminating the Dividend Achievers indexes under their current symbols (DAA, DVG, DAY, and DAT).
  • NASDAQ OMX will also begin disseminating 14 additional NASDAQ Dividend Achievers indexes.
  • NASDAQ OMX will become the official index source for the NASDAQ Dividend Achievers indexes through the NASDAQ Dividend and Income Index Family.

What are the Dividend AchieversTM Indexes?

The NASDAQ Dividend Achievers indexes generally track companies that have consistent increases in dividends paid year over year. The goal of the index family is to create a desirable blend of potential current income and long-term capital appreciation. The Dividend Achievers indexes are a leader in this space with over $18 billion in ETF, Mutual Fund, UIT and Structured Product assets.

What is changing?

As announced in Financial Product News 2013-2, NASDAQ OMX® will transition the dissemination of the Mergent Dividend Achievers indexes from NYSE Arca, to the NASDAQ OMX Global Index Data ServiceSM (GIDSSM) and Global Index Watch product (GIWSM) proprietary data services. GIDS will be the only direct source for real-time calculations of these indexes and GIW will be the direct source for weightings and components information. NASDAQ OMX will be working directly with our redistribution partners to make sure that the transition is seamless for customers that access the data indirectly through those partners.

Updated 2/27/2013: In addition, the Mergent Dividend Achievers indexes will be rebranded as the "NASDAQ Dividend Achievers" indexes. The names for most Dividend Achievers will change effective Monday, February 25, 2013. NASDAQ OMX requests that all vendors receiving these indexes abide by the new naming convention. NASDAQ OMX has corrected select index names to include the word "Index". The updated index names will be effective Monday, March 4, 2013. Please refer to the NASDAQ Achievers list for complete index symbols and names.

How will the NASDAQ Dividend Achievers indexes be disseminated during the Beta test?

Effective Monday, March 4, 2013 and until close of business on Friday, March 22, 2013, NASDAQ OMX will provide beta testing for the Dividend Achievers indexes. Data recipients will receive real-time index information for select Dividend Achievers Indexes from the NASDAQ OMX proprietary GIDS data feed. Please note, the Dividend Achievers indexes currently disseminated via NYSE Arca's index service will still be available during the testing period.

NASDAQ OMX will create temporary versions (appending "TEST" to the end of the ticker symbol) of the current indexes available via the NYSE GIF service. Additionally, during the Beta testing period, NASDAQ OMX will introduce real-time dissemination of five additional Dividend Achievers indexes that are not currently supported on the NYSE GIF service. Total return versions of all nine price return indexes will also be available via GIDS. The index information will be temporarily identified via GIDS and GIW as follows:

Current Mergent Index Name NASDAQ GIDS Index Name NASDAQ GIDS Temporary Symbol Currency Frequency FP Type Brand
Mergent US Broad Dividend Achievers NASDAQ US Broad Dividend Achievers IndexDAATESTUSD1S **INQ
Mergent US Broad Dividend Achievers TR NASDAQ US Broad Dividend Achievers Index TRDAATRTESTUSD1SINQ
Mergent Dividend Achievers 50 Index NASDAQ US Dividend Achievers 50 IndexDAYTESTUSD1S **INQ
Mergent Dividend Achievers 50 Index TR NASDAQ US Dividend Achievers 50 Index TRDAYTRTESTUSD1SINQ
Mergent Dividend Achievers Select Index NASDAQ US Dividend Achievers Select Index *DVGTESTUSD1S **INQ
Mergent Dividend Achievers Select Index TR NASDAQ US Dividend Achievers Select Index TR *DVGTRTESTUSD1SINQ
Mergent International Dividend Achievers NASDAQ International Dividend Achievers IndexDATTESTUSD1S **INQ
Mergent International Dividend Achievers TR NASDAQ International Dividend Achievers Index TRDATTRTESTUSD1SINQ
Mergent Broad Canadian Dividend Achievers NASDAQ Broad Canadian Dividend Achievers IndexDACATESTCAD1SINQ
Mergent Broad Canadian Dividend Achievers TR NASDAQ Broad Canadian Dividend Achievers Index TRDACATRTESTCAD1SINQ
Mergent Buyback Achievers Index NASDAQ US Buyback Achievers IndexDRBTESTUSD1SINQ
Mergent Buyback Achievers Index TR NASDAQ US Buyback Achievers Index TRDRBTRTESTUSD1SINQ
Indxis Select Canadian Dividend NASDAQ Select Canadian Dividend IndexNQCADIVTESTCAD1SINQ
Indxis Select Canadian Dividend TR NASDAQ Select Canadian Dividend Index TRNQCADIVTTESTCAD1SINQ
Indxis Select Canadian Preferred Share Index NASDAQ Select Canadian Preferred Share IndexNQCAPFDTESTCAD1SINQ
Indxis Select Canadian Preferred Share Index TR NASDAQ Select Canadian Preferred Share Index TRNQCAPFDTTESTCAD1SINQ
Mergent UK Dividend Achievers Index NASDAQ UK Dividend Achievers IndexUKDATESTGBP1SINQ
Mergent UK Dividend Achievers Index TR NASDAQ UK Dividend Achievers Index TRUKDATRTESTGBP1SINQ

* The index names for symbols DVG and DVGTR will be effective on Monday, March 4, 2013.

**Please note: While these indexes are Beta tested, NASDAQ-calculated values may differ from NYSE Arca's values as the indexes are currently disseminated every 15 seconds on NYSE GIF while the GIDS data feed will disseminate the indexes once every second.

What Dividend Achievers indexes will be disseminated via GIDS after the Beta test?

Effective Monday, March 25, 2013, NASDAQ OMX will change the symbol by removing "TEST" from the end of the symbol. GIDS will be the only direct source for real-time calculations of the Dividend Achievers indexes. Below is a complete list of the indexes that will be disseminated on GIDS beginning March 25th.

NASDAQ GIDS Name NASDAQ GIDS Symbol Currency Frequency FP Type Brand
NASDAQ US Broad Dividend Achievers IndexDAAUSD1SINQ
NASDAQ US Broad Dividend Achievers Index TRDAATRUSD1SINQ
NASDAQ US Dividend Achievers 50 IndexDAYUSD1SINQ
NASDAQ US Dividend Achievers 50 Index TRDAYTRUSD1SINQ
NASDAQ US Dividend Achievers Select IndexDVGUSD1SINQ
NASDAQ US Dividend Achievers Select Index TRDVGTRUSD1SINQ
NASDAQ International Dividend Achievers IndexDATUSD1SINQ
NASDAQ International Dividend Achievers Index TRDATTRUSD1SINQ
NASDAQ Broad Canadian Dividend Achievers IndexDACACAD1SINQ
NASDAQ Broad Canadian Dividend Achievers Index TRDACATRCAD1SINQ
NASDAQ US Buyback Achievers IndexDRBUSD1SINQ
NASDAQ US Buyback Achievers Index TRDRBTRUSD1SINQ
NASDAQ Select Canadian Dividend IndexNQCADIVCAD1SINQ
NASDAQ Select Canadian Dividend Index TRNQCADIVTCAD1SINQ
NASDAQ Select Canadian Preferred Share IndexNQCAPFDCAD1SINQ
NASDAQ Select Canadian Preferred Share Index TRNQCAPFDTCAD1SINQ
NASDAQ UK Dividend Achievers IndexUKDAGBP1SINQ
NASDAQ UK Dividend Achievers Index TRUKDATRGBP1SINQ

What database changes do NASDAQ OMX market data redistributors need to make to accommodate the new indexes?

NASDAQ OMX asks that all market data redistributors update their database to reflect the new index source for the indexes on Monday, March 25, 2013. Additionally, NASDAQ OMX requests that market data redistributors retain any historical data for the Dividend Achievers indexes and begin to process the GIDS data on March 25th.

Will the components and weightings data be made available?

NASDAQ OMX will introduce a new index family, the NASDAQ Dividend and Income Index Family, to house the NASDAQ Dividend Achievers indexes on NASDAQ OMX Global Index Watch (GIW). NASDAQ OMX is working with our redistribution partners to make this new family available via their services. For access and more information on the Dividend Index family on GIW, please contact NASDAQ Global Data Sales.

Where can I find additional information?



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