Data News Nordic #2017 – 13: Nasdaq Nordic & Baltic to introduce changes related to MiFID II – Disaggregated Data products

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| Source: Global Data Products

 

Markets Impacted:   Nasdaq® Nordic- and Baltic Markets

Products Impacted: Nordic Equity, Nordic Derivatives, Nordic Fixed Income, Nasdaq Commodities and Baltic Equity & Fixed Income

 

What you need to know:

From January 3, 2018 Nasdaq® will introduce new disaggregated end user products and pricing for Nordic Equity, Nordic Derivatives, Nordic Fixed Income, Baltic Equity- and Fixed Income and Commodities data. The new products are disaggregated by pre- and post-trade data and by the relevant asset classes as defined in MiFID RTS 14. Existing market data consolidated products will not be changed.

 

What are the new products?

The Nasdaq Nordic & Baltic Pre-trade products are available with Real time order book Level 1- or Level 2 data and also include a limited set of order book reference data.

The Nasdaq Nordic & Baltic Post-trade products are available with on- and off-order book trades as well as APA trades and also include a limited set of order book reference data.

The Nasdaq Nordic & Baltic Pre- and Post-trade products do not include any premium information such as index data, company news, Net Asset Values, sector information, calculated statistics, closing prices, analytics, fixings, average prices or reference data including cash flows or redemptions.

The new Pre- and Post-trade products are available in the Genium Consolidated feed (GCF) as separate products. Disaggregated Pre- and Post-trade data products are not available via any direct feed from the trading systems.

Please note that Pre- and Post-trade products are separate feeds and that it is not permitted to create Pre- and Post- trade products using existing Nasdaq Nordic- and/or Baltic consolidated data products.

Existing Nordic- and Baltic- consolidated data products will remain as they are today.

                                                                                                                                                    

When will the new disaggregated data products be available in test?
Pre- and post-trade products are available in Genium Consolidated Feed test environments from December 2017.
  

What are the fees?

 

 

Fees effective
January 3, 2018:
Subscriber fees Distributor fee
  Pre-trade-L1 Pre-trade L2 Pre-trade
TotalView
Post-trade Business
Nordic Equity € 25 € 46 € 66 € 15 € 4000
Nordic Derivatives   € 20   € 18 L2: € 1250
TV: € 1860
Nasdaq Commodities   € 25 € 28 € 30 € 2 000
Nordic Fixed Income   € 37 € 40 € 31 € 3000
Baltic Equity & Fixed Income € 11 € 15 € 18 € 5 L1: € 670
L2/TV: € 920

 

 

Distributor License fees apply for the new Pre- and Post- trade products.

Non-display usage of the Pre- and Post-trade feeds is fee liable and follows the regular Non-display product fee schedule. Please see existing pricing here:

http://www.nasdaqomx.com/transactions/marketdata/europeanproducts/european-market-data-pricing

 

Where can I find additional information?

For questions regarding this notice please speak to your Sales Representative or contact DataSales@nasdaq.com or by telephone: +46 8 405 7500 or + 45 33 93 33 66.