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Monday, February 24, 2025

Data Technical News #2025 - 5
Nasdaq Announces Changes to NFN Daily List, NFN Symbol Directory and Product Directory

Markets Impacted:

Products Impacted:

  • NFN Daily List
  • NFN Symbol Directory
  • NFN Secure Web Service

Contact Information:

What you need to know:

On or about Monday, May 19, 2025, Nasdaq Fund Network (NFN) is adding two new fields to the NFN Daily List and the NFN Symbol Directory and four new fields to the NFN Product Directory report.

There are four new deletion reasons being added to the NFN Daily List Deletion Reason field.

NFN is also adding a new report called Expense, this report is for expenses related to the NFN instrument.

What is changing?

Nasdaq Fund Network (NFN) is adding two new fields to the NFN Daily List and the NFN Symbol Directory reports. These new fields are optional fields for Private Stocks. Also for Private Stocks, NFN is adding 4 new deletion reasons to the Deletion Reason field on the NFN Daily List.

NFN is also adding 4 new fields to the Product Directory report. Please see below for NFN Daily List, NFN Symbol Directory, and Product Directory report changes.

NFN is also adding the Expense report to the NFN Web Service Reports.

The following fields are being added to the NFN Daily List report:

Field Name Field Format Description
Authorized Shares 12 characters, alphanumeric Denotes the number of authorized shares for the private stock.
Authorized Shares Date Date, MM/DD/YYYY Indicates the “As of” Date associated with the authorized shares field above.

The following fields are being added to the NFN Symbol Directory report:

Field Name Field Format Description
Authorized Shares 12 characters, alphanumeric Denotes the number of authorized shares for the private stock.
Authorized Shares Date Date, MM/DD/YYYY Indicates the “As of” Date associated with the authorized shares field above.

The following values will be added to the Deletion Reason field in the NFN Daily List.

Field Name Field Format Description
Deletion Reason 1 character, alphanumeric
Code Value
D Initial Public Offering
F Mergers and Aquisitions
G Restructured
H Bankruptcy

NFN will be adding the following fields to the NFN Product Directory::

Field Name Field Format Description
Trustee Text up to 75 characters Denotes the name of the trustee for the NFN Product
Investment Advisor Text up to 75 characters Denotes the name of the investment advisor for the NFN Product
Sub Advisor Text up to 75 characters Denotes the name of the sub advisor for the NFN Product
Investment Strategies Text up to 50000 characters Denotes how the investment will achieve the objective as described in the prospectus

NFN is adding the Expense Report. This report contains the expenses associated with the fund at the share class level. Details including the API service call can be found in the NFN Daily List specification..

For more information regarding changes to the NFN Daily List and Symbol directory, please go to the NFN Daily List specification.

How can I test these NFN changes?

Nasdaq will offer one Saturday User Acceptance Test (UAT) for NFN fund issuers on:

  • Saturday, May 17, 2025 – UAT Test

    • Firms wishing to participate in the UAT should complete and submit the NFN testing registration form to NFN Operations by Thursday before the scheduled test date. Registered testing firms will receive a testing information sheet, spelling out daily event schedule and open conference call number prior to each test.

    Where can I get additional information?

    Contact NFN Operations at +1 301 978 5307 (Option #6).


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