Friday, October 3, 2008

Data News #2008 - 71
NASDAQ OMX Introduces Plans for a New Real-Time, Proprietary Data Feed Called NASDAQ Market Pathfinders

Please Route to:

• Direct NASDAQ OMX Data Feed Recipients
• NASDAQ OMX Market Data Distributors

Summary:

• NASDAQ OMX has announced plans to introduce a new real-time, proprietary service called NASDAQ Market Pathfinders that:
  • Features real-time indications of the sentiment of the market based on the buying and selling patterns of NASDAQ market makers.
  • Does not reveal the identity of Market Pathfinders. Instead, this feed captures the sentiment of this group by indicating the number of Market Pathfinders that are bullish versus bearish and the total number shares they bought versus sold.
  • Covers the full range of NASDAQ-, NYSE-, Amex- and regional exchange-listed securities.

What is NASDAQ Market Pathfinders?

NASDAQ Market Pathfinders is a real-time data product that indicates the sentiment of the market based on the buying and selling patterns of NASDAQ^® market makers. Using NASDAQ trade data, this product identifies pathfinders(“pathfinders”)that are actively buying or selling a large volume of shares in a particular security, in the anticipation of a price increase or decrease. Market Pathfinders are kept anonymous — it is the aggregation of their trading activity that is used to determine if these market participants are bullish or bearish on a particular issue. The Market Pathfinders information is updated every minute for every issue traded on the NASDAQ book. Use this product to:

• Track the number of Market Pathfinders that are bullish versus bearish on the market
• View the ratio of shares bought versus sold by Market Pathfinders
• Create a portfolio of stocks and receive periodic updates of the Market Pathfinders values

Pending Securities and Exchange Commission (SEC) approval, NASDAQ OMX^SM plans to launch the Market Pathfinders data feed in the fourth quarter of 2008.

What is the format of the NASDAQ Market Pathfinders Data Feed?

The new Market Pathfinders data feed features aggregated real-time, intraday trade volume data for Market Participants designated as Market Pathfinders from the integrated NASDAQ system for NASDAQ-, NYSE- and Amex-listed securities. NASDAQ OMX does not reveal the identities of the Market Pathfinders. Instead, Pathfinders are kept anonymous — it is the aggregation of their trading activity that is used to indicate the number of Market Pathfinders bullish versus bearish and the total number shares bought versus sold by Market Pathfinders. Built on the NASDAQ Velocity and Forces^® dissemination model, the Market Pathfinders feed is also designed to be network and bandwidth-efficient. NASDAQ OMX also offers administrative flexibility for market data redistributors.

NASDAQ will offer Pathfinders in MoldUDP protocol option. The recommended bandwidth allocation for Pathfinders is 4 Megabits (Mb)per data center connection.

Direct data formats:

• NASDAQ Market Pathfinders data feed specification

Network protocol support documents:

• MoldUDP protocol packeting specification

In addition to the data feed options, Market Pathfinders is available via the NASDAQ OMX DataStore for individuals looking for a display option or firms looking for a plug-and-play display widget.

How can I order the Market Pathfinders data feed?

To obtain the NASDAQ Market Pathfinders feed, a firm must:

• Order connectivity to the Pathfinder feed via an authorized NASDAQ Connectivity Provider .
• Complete and submit the appropriate NASDAQ OMX agreement for U.S. market data. Please refer to the Agreements – Data Products section of the NASDAQ Trader® website for details.

Whom should I contact for additional information?

• Visit NASDAQ OMX DataStore for a free preview of the NASDAQ Market Pathfinders product offering.
• Contact NASDAQ OMX Global Data Products at +1 301 978 5307.