Markets Impacted: Nasdaq Nordic Market
Products Impacted: Nasdaq Nordic Fixed Income
What you need to know: Effective January 1, 2017 , Nasdaq will introduce a fee for Non-Display usage of Nordic Fixed Income data.
What is changing?
Nasdaq is updating its policy to introduce a new fee schedule for distributors using Nordic Fixed Income data in a Non-Display. Nasdaq is making these changes to accommodate the broadening variety of ways in which data is being consumed in a non-display manner, and provide more flexibility for firms.
What is Non-Display?
Nordic Fixed Income Non-display usage is governed by the policies found in the Nasdaq Global Data Policies document . Examples of Non-display usage for Fixed Income can be seen below, please note that this list is not exhaustive and if you have any questions about a use case not outlined, this should be discussed with your Sales Representative.
- Order routing activities with or without manual intervention
- Automated buy or sell orders with or without manual intervention
- Calculation/generation of yield curves
- Other calculations and verification
· Machine driven price creation/quotation with or without manual intervention
· Price referencing for algorithmic trading with or without manual intervention
- Price referencing for smart order routing with or without manual intervention
What policies are changing?
The pricing policy for Nordic Fixed Income Non-Display data will be updated and note C3 in the Nasdaq Global Data Policies document will change to:
C3: Non-Display Usage of Nordic Fixed Income Information in real-time products is fee liable. Non-Display Usage of Nordic Fixed Income Information in delayed products is currently not fee liable, but normal delayed fees will apply. For more information, please refer to the Non-Display Definition in the Unit of Count Section of this document.
What is the price?
| Service Level | Recipient Fee (/month) |
| Nordic Fixed Income Non-Display Fee | € 350 per Recipient Firm |
Where can I find additional information?
For questions regarding this notice please speak to your Sales Representative or contact DataProducts@nasdaq.com or by telephone + 45 33 93 33 66.