Overview

To promote market transparency, Nasdaq operates the Nasdaq Fund Network (NFN). NFN is designed to facilitate the collection and dissemination of daily price, dividends and capital distributions data for mutual funds, money market funds, unit investment trusts (UITs), annuities, structured products, NextShares, collective investment trust (CIT), separate accounts, managed accounts, and hedge funds. Please refer to the NFN product page for details.

NFN Interface Options

In association with the NFN system, Nasdaq supports the following products:

NFN Inbound Interfaces:

  • NFN Valuation Module: This service is used by NFN issuers and NFN pricing agents to report daily price data, such as NAVs, offer/market price and total net assets, to the market data community. Nasdaq operates three reporting interfaces, such as a secured website and dedicated CTCI circuit, to meet the customers needs.
  • NFN Registration Module: This web-based service is used by NFN issuers and administrators to enter and track new instrument applications and change requests. Firms may also post financial documentation, such as prospectus, annual reports, semi-annual reports and monthly portfolio holding reports via this website for the market data community to access.

NFN Outbound Interfaces:

  • NFN Data Service: This fixed-format data feed product broadcasts daily valuation information for mutual funds, money market funds, UITs, annuities, structured products, NextShares, collective investment trusts, managed accounts, separate accounts, and hedge funds to the market data community as it is entered into the NFN system.
  • NFN Registration Service / NFN Daily List: This secured web service provides NFN security master information to the market data community. For a nominal monthly fee, firms receive access to the NFN Symbol Directory, NFN Daily List, NFN Documentation Posting Service and NFN Ex-Date Report for all NFN instruments.

NFN Inbound Interfaces - Valuation Data

Nasdaq offers the following ways for fund families, trust sponsors and pricing agents to enter daily price and distribution data into the NFN system:

NFN Interface Option Brief Description Technical Documentation
NFN Website - Pricing Agent Access Level
  • Secured web-based display interface that supports real-time data entry into NFN:
    • Screen-based data entry on security-by-security basis
    • Data file upload feature that allows funds to report multiple funds at one time
  • Using NFN website, investment companies may also verify price data entered into NFN via CTCI or FTP reporting method

Technical Interface Documents:

NFN 0050 Transition Information:

Logon Request Form:

NFN FTP Server
  • Secured FTP server option enables pricing agents and investment companies to automate the fund price upload process.
  • Publication schedule for FTP option is noted in the specification document.

Technical Support Documentation:

NFN 0050 Transition Information:

Logon Request Form:

Computer-To-Computer Interface (CTCI)
  • Dedicated circuit into Nasdaq data center that supports fully automated, real-time reporting of NFN price data
  • CTCI is based on the Common Message Switch protocol

Technical Support Documentation:

Direct Connectivity Options:

NFN 0050 Transition Information:

Port Request Form:

NFN Inbound Interface - Instrument Registration Data

In 2011, Nasdaq expanded its NFN website functionality to support online submission and tracking of NFN instrument registration applications by fund families and trust sponsors. NFN issuers may also use the NFN website to upload financial documentation, such as prospectus, annual reports and semi-annual reports, for the market data community to access.

NFN Interface Option Brief Description Technical Documentation
NFN Website - NFN Issuer Access Level
  • Secured website interface for NFN issuers and NFN administrators to:
    • Enter and track new instrument applications and change requests online
    • Post financial documentation such as prospectus, annual / semi-annual reports and monthly portfolio holdings for the market data community to access
Technical Interface Documentation:
Logon Request Form:

NFN Outbound Interface - Nasdaq Fund Network Data Service

As firms enter daily prices and distributions into the NFN system, Nasdaq disseminate the data on a real-time basis via the NFN Data Service data feed to the market data community.

NFN Interface Option Brief Description Technical Documentation
NFN Data Service
  • Direct real-time data feed that disseminates NFN data feed to the market data community

Technical Support: Documentation

MFDS Message Format Release Information for Second Quarter of 2011:

Direct Connectivity Options:

Ordering Forms:

Outbound Interface - NFN Registration Service/NFN Daily List

Nasdaq offers access to its NFN security master database and NFN documentation repository to the market data community via the NFN Registration Service/NFN Daily List product.

NFN Interface Option Brief Description Technical Documentation
NFN Registration Service / NFN Daily List
  • Secured web service that supports the following daily download files:
    • NFN Symbol Directory
    • NFN Daily List 2013 Advance Notifications
    • NFN Daily List 2013 Next Day Actions
    • NFN Documentation List
    • NFN Ex-Date Report (as of June 13, 2011)
Technical Interface Documentation:
Ordering Forms: