Thursday, March 30, 2017

Nasdaq Fund Network #2017 - 2
Nasdaq To Introduce New CSV Valuation File Upload and Update MFQS Web Site Layout in June 2017

What is changing?

Effective Monday, June 5, 2017, Nasdaq will introduce the following MFQS secured website interface enhancements:

• Introduction of new comma separated value (CSV) file upload option for MFQS valuation data
• Update MFQS website layout
• Add new values for Instrument Code field on MFQS instrument application and MFQS web reports

How will the new CSV file option work?

As requested by pricing agent firms, Nasdaq will introduce a new CSV file format for MFQS valuation data in June 2017. Based on the MFQS 0050 standard, the CSV file will have a defined message header row for each valuation message format and file naming convention. Please note that Nasdaq will initially support the CSV file upload option via the MFQS secured website interface only. Refer to the MFQS CSV file specification for details on the file creation.

What new Instrument Codes will MFQS support?

At the request of MFQS issuers, Nasdaq will introduce new Instrument Code values for Interval Funds and Business Development Companies (BDCs) as part of the June 2017 release. If firms wish to reclassify existing mutual funds as Interval Funds or BDCs, they must submit an update instrument application form to MFQS Operations for processing.

Please note that the Instrument Code field is displayed on the MFQS Daily List, MFQS Symbol Directory, MFQS Today’s Price History Report, and MFQS Ex-Date Report. The Instrument Code field is also included in the Symbol Directory message format on the outbound Mutual Fund Dissemination Service (MFDS) product.

Will Nasdaq modify the MFQS inbound valuation message formats for June release?

While Nasdaq will not modify the existing MFQS inbound message formats for the June release, it will introduce a new CSV file upload option for MFQS secured website users as outlined above.

Based on client requests, Nasdaq will continue to support the MFQS 0040 legacy data formats "as is" through September 30, 2017. It should be noted, however, that Nasdaq will not support the new Instrument Code values for Interval Funds or BDCs via the legacy 0040 valuation formats on inbound MFQS interfaces.

What other product changes will Nasdaq be making as part of the MFQS release?

As part of the June release, Nasdaq will be updating the look and feel of its MFQS secured website interface. As outlined in Data Technical News #2017-7, Nasdaq will also add the Instrument Registration field to the MFDS outbound data product. The updated user guide can be found here.

What web browsers will MFQS support as of June 2017?

For best results, Nasdaq recommends that firms use one of the following browsers to access the MFQS website:

• Microsoft Internet Explorer (IE) – Version 11.0 and higher
• Mozilla Firefox – Version 51 and higher
• Google Chrome – Version 56 and higher

When will Nasdaq offer testing opportunities for the MFQS release?

Nasdaq will offer Saturday user acceptance tests (UATs) for MFQS issuers, pricing agents, and market data vendors on:

• Saturday, April 22, 2017 – UAT
• Saturday, May 20, 2017 – UAT
• Saturday, June 3, 2017 – Confidence Test

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

Given the MFQS navigation changes are included in this release, Nasdaq strongly recommends that firms using older browser versions participate in the UATs to ensure they will be able to access required pages as of Monday, June 5, 2017.

Where can I find additional information?

Refer to MFQS inbound and outbound data specifications.

Contact MFQS Operations at +1 877 308 0523 (Option #2) or +1 301 978 5307 (Option 6).