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Friday, October 14, 2016

Equity Trader Alert #2016 - 260
Nasdaq to Begin Listing Three New NextShares on Tuesday, October 18, 2016

Category:

  • Listing

Markets Impacted:

Contact Information:

Resources:

Effective Tuesday, October 18, 2016, Nasdaq will list three new NextShares:

  • Ivy Focused Growth NextShares (Symbol: IVFGC)
  • Ivy Focused Value NextShares (Symbol: IVFVC)
  • Ivy Energy NextShares (Symbol: IVENC)

NextShares Data Dissemination

Quotation and trade data for Nasdaq-listed NextShares are disseminated via UTP Level 1, Nasdaq Basic, Nasdaq Level 2, and Nasdaq TotalView-ITCH using the trading symbols listed below. As outlined in NextShares display guidelines, Nasdaq will disseminate NextShares quotation and trade data in proxy price format or NAV offset value format.

Dissemination of the daily valuation information for the NextShares will begin Tuesday, October 18, 2016. For NextShares, the daily net asset value (NAV) will be disseminated via the Mutual Fund Dissemination Service (MFDS) and the Intraday Indicative Value (IIV) will be disseminated at 15 minute intervals via the Nasdaq Global Index Data Service (GIDS).

For GIDS, Nasdaq symbols will be:


Issue Name for NextShares Ivy Focused Growth NextShares
 Ivy Focused Value NextShares
 Ivy Energy NextShares
Nasdaq-listed Trading Symbol IVFGC IVFVC IVENC
Intraday Indicative Value IVFGC.IV IVFVC.IV IVENC.IV
Estimated Cash Amount Per Creation Unit IVFGC.EU IVFVC.EU IVENC.EU
Total Cash Amount Per Creation Unit IVFGC.TC IVFVC.TC IVENC.TC
Net Accrued Dividend IVFGC.DV IVFVC.DV IVENC.DV
Prior Day's Net Asset Value IVFGC.NV IVFVC.NV IVENC.NV
Total Shares Outstanding IVFGC.SO IVFVC.SO IVENC.SO

Please note that the NAV field on GIDS is intended for reference purposes only. The GIDS field is not used for actual trade price calculations.

For MFDS, the NAV symbol will be “IVFGCNX” and “IVFVCNX” and “IVENCNX”. Nasdaq will use the NAV value from the MFDS 6:45 p.m. summary spin for its actual trade price calculations at the end of the trading day.

Market Makers

You may register as a market maker by contacting Nasdaq Trade Desk at +1 212 231 5100. Market makers in the NextShares can register beginning Tuesday, October 18, 2016.

All purchasers of newly issued NextShares must receive a prospectus or product description.

NextShares Trading Eligibility

In order for a market participant to trade NextShares, participants must first:

  1. Complete and submit NextShares Trading Addendum Form
  2. Complete NextShares Certification testing with the Nasdaq Trade Desk

In order to trade NextShares, market participants will need to complete the trade addendum, certification testing, ensure the end of day correction process occurs and that no issues are encountered. Once this process is complete and the addendum is on file market participants will have all production ports enabled the following business day to trade NextShares.

For more information on this new asset class, refer to the NextShares web page.

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Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.

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