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Thursday, August 7, 2025

Data Technical News #2025 - 24
UPDATE: Nasdaq Announces the Launch of Phase 2 of the New NFN web service

Markets Impacted:

Products Impacted:

  • NFN Web Service

Contact Information:

What you need to know:

UPDATE: On Monday, March 23, 2026, Nasdaq announces the launch of Phase 2 of the New Nasdaq Fund Network (NFN) NFN Web Service.

Phase 2 includes the move of NFN valuation to the new Nasdaq Fund Network platform: newnfn.nasdaq.com.

After the launch of Phase 2, Nasdaq will decommission the old platform: nfn.nasdaq.com.

What is changing?

UPDATE: On Monday, March 23, 2026, Nasdaq Fund Network (NFN) is launching the Phase 2 release to the new NFN Web Service. The new web service is being released in two phases, the first phase launched November 16, 2024. The first phase was the launch of the new NFN registration site and vendor reports in the cloud.

The second phase will be released on or about March 23, 2026. The Phase 2 release is the transition of NFN Valuation to the New NFN Web Service. This release will provide a better user experience for both NFN web service users, pricing agents, and vendors.

UPDATE: Nasdaq is adding a default NAV value of 1.00 for Money Market Funds, firms that do not use the static 1.00 NAV will need to input the NAV in their daily transmissions. Nasdaq is also changing the NAV validation for Long Term and Short Term Capital Gains. Currently the validation is “LT/ST Cap Gains cannot be higher than the previous day’s NAV”. The new validation is “The LT/ST Cap Gain cannot be higher than the NAV on the given Ex Date”.

What do Vendors need to know?

The transition of the NFN Web Service comes with new URLs for the following reports:

Report New API call as of Monday, March 23, 2026
NFN Valuation Report

https://api.nfn.nasdaq.com/servicecall/valuation.ashx?reportname=ValuationReportFund

https://api.nfn.nasdaq.com/servicecall/valuation.ashx?reportname=ValuationReportMoneyMarket

https://api.nfn.nasdaq.com/servicecall/valuation.ashx?reportname=ValuationReportDIV

https://api.nfn.nasdaq.com/servicecall/valuation.ashx?reportname=ValuationReportDST

Today's Price History

https://api.nfn.nasdaq.com//servicecall/CurrentActivity.ashx?MPID=[MPID]

https://api.nfn.nasdaq.com/servicecall/CurrentActivity.ashx?Symbol=ABCDX

https://api.nfn.nasdaq.com/servicecall/CurrentActivity.ashx?testflag=true/false

Ex Date Report https://api.nfn.nasdaq.com/servicecall/exdate.ashx?date=MM/DD/YYYY

What do Pricing Agents need to know?

Pricing Agents currently utilizing the REST API inbound protocol will need to adjust their endpoint URLs to the following:

Report New endpoint URL as of Monday, March 23, 2026
Service Access Key

API Endpoint: https://api.nfn.nasdaq.com/ServiceAccess.aspx

Service Access Key generation via Web Service: www.newnfn.nasdaq.com/service_access_key
Temp Session https://api.nfn.nasdaq.com/servicecall/tempsession
Valuation https://api.nfn.nasdaq.com/servicecall/price

How can vendors and issuers test the new NFN Web Service?

Nasdaq will offer two Saturday User Acceptance Tests (UATs) for NFN issuers, pricing agents and market data vendors on:

  • Saturday, February 21, 2026 – UAT
  • Saturday, March 21, 2026 – Confidence Test

Firms wishing to participate in the UATs should complete and submit the NFN testing registration form to NFN Operations by the Thursday before the scheduled test date. Registered testing firms will receive a testing information sheet, spelling out daily event schedule and open conference call number prior to each test.

Where can I get additional information?

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


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