Thursday, June 30, 2016

UTP Vendor Alert #2016 - 10
The UTP Plan Announces Change to Administrative Services

Overview

Recently, the UTP Plan Participants requested further separation of the UTP Level 1 administrative services from the Nasdaq proprietary data administrative services. Over the next few months, Vendors should expect changes to usage reporting requirements, invoices and other documentation.

Where can I find more information about the UTP Plan?

The UTP Plan governs the collection, processing and distribution of all UTP Level 1 data and is administered by the exchanges and associations listed under the Participants section of www.utpplan.com. The UTP Plan Participants determine policy matters and oversee system operations.

The UTP Plan has contracted with Nasdaq to manage the day-to-day operations. Under the plan's direction, Nasdaq has created a new (and separate) UTP Plan Administration team to support UTP Level 1 data only.

How will my firm be affected by the UTP Plan separation?

More than one year ago, the UTP Plan Administration Team created a new website, www.utpplan.com, to host the technical interface specifications, policy documents and various order forms for UTP Level 1 data only.

As part of the separation process, new order forms and invoices specific for UTP Level 1 data will be introduced for the service month of September 2016. In upcoming months, UTP Plan Administration will post additional updated order forms and other administrative support documents for Vendors at www.utpplan.com. UTP Plan Administration will manage the majority of the separation on behalf of Vendors.

The following separation items may require action from Vendors:

• Detailed Usage Reporting: Although the NORA system will continue to accommodate joint data entry of Summary Usage Reports, separate Detailed Usage Reports are expected to be required as of January 2017. More information will follow.

---

• Data Feed Request Forms and System Applications: As of the service month of September 2016, the documentation for ordering a UTP Level 1 Data Feed and submitting a System Application will require separate forms, accessible at www.utpplan.com/data_admin.

---

• UTP Subscriber Agreement: As of January 2017, a new UTP Subscriber Agreement is expected to be released. The document will be available as an option for Vendors that distribute data to External Subscribers.

The following separation items will be automatically affected and no action is required:

• Summary Usage Reporting: As of the service month of September 2016, creation of a separate section in NORA for Vendors to submit Summary Usage Reports. Note: To streamline Vendor processes, a single NORA login will be maintained.

---

• Invoices: As of the service month of September 2016, new, separate, invoices for UTP billed items are expected to be issued. Note that, if Vendors provide a full breakdown, including invoice numbers, along with the invoice payment, Vendors may send a single wire transfer or check for payment of multiple invoices for both Nasdaq and UTP data. As a backup, please send a breakdown of the wire/check payment to billing@utpplan.com.

UTP Plan Administration expects a very smooth transition, and will work individually with Vendors that require more assistance.

Where can I find additional information?

For more information on the policies, agreements and forms, please contact UTP Plan Administration at +1 301 978 8080.

For questions about the UTP Data Feed products, please contact UTP Technical Operations at +1 203 926 3400.