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Thursday, October 10, 2019

Data News #2019 - 8
Nasdaq To Introduce Nasdaq Canada Data Agreement and Global Subscriber Agreement for Nasdaq Canada

Markets Impacted:

  • Nasdaq CXC
  • Nasdaq CX2
  • Nasdaq CXD

Contact Information:

What you need to know:

As of today, Thursday, October 10, 2019, Nasdaq Canada market data products will be covered under the terms and conditions of the Nasdaq Canada Data Agreement or CDA.

Nasdaq will require all Distributors receiving or intending to receive Nasdaq Canada Information through a Nasdaq Canada data feed product to be party to the CDA.

Additionally, Nasdaq will require Distributors to qualify each Subscriber that receives Nasdaq Canada Information via a controlled product or uncontrolled product that is reported as billable by the Distributor using the Nasdaq Global Subscriber Agreement.

What is changing?

Nasdaq is introducing a Nasdaq Canada Data Agreement or CDA. This agreement replaces the existing Nasdaq Canada Data Distribution Agreement and Nasdaq Canada Data Use Agreement. The provision of all Nasdaq CXC, CX2, and CXD market data products is made available under the CDA.

Who needs to execute the CDA?

All Nasdaq Canada market data Distributors are required to have a counter-executed CDA in place. Nasdaq identifies a Nasdaq Canada Distributor as a Distributor receiving or intending to receive Nasdaq Canada Information. Nasdaq Canada Information can be received directly from Nasdaq, through an approved Nasdaq extranet or through an authorized data feed provider or Redistributor.

Will current Nasdaq Canada Distributors be required to fill out a CDA?

Nasdaq will require all Distributors to counter execute a CDA, regardless of current agreements in place.

What is the deadline for current Nasdaq Canada Distributors to fill out a CDA?

All Nasdaq Canada Distributors should have an executed CDA by December 31, 2019.

Who needs to execute the Global Subscriber Agreement?

Nasdaq Canada market data Distributors are required to qualify each Subscriber receiving Nasdaq Canada Information via a controlled product. Both current Subscribers and new Subscribers must be qualified using the Nasdaq Global Subscriber Agreement using the following options:

  1. Online
  2. Incorporation by Reference
  3. Hard Copy/Paper

If the Distributor has chosen the option of Vendor Indemnification, they are not required to execute a Nasdaq Global Subscriber Agreement.

How will I order Nasdaq Canada market data moving forward?

In order to receive a Nasdaq Canada market data feed;

  1. Complete the following:
  2. After completion of the above documents, submit to Ca.marketdata@nasdaq.com or mail documents to the following address:

    Nasdaq Global Data Products
    805 King Farm Boulevard, Rockville, MD 20850 USA
    Phone US Office: +1 301 978 5307
    Fax: +1 301 978 5295

How will this affect my current Nasdaq Canada Reporting?

There will be no changes to existing Nasdaq Canada Reporting. Please continue to submit detailed reporting to Ca.marketdata@Nasdaq.com and summary reporting via Nasdaq Online Reporting Portal (NORA).

Are there any changes to Nasdaq Canada market data fees being made as part of this transition?

Nasdaq will not be changing Market Data fees as part of this transition. More information on Nasdaq Canada pricing can be found here.

Will Nasdaq be updating policies as part of this transition?

Nasdaq is clarifying market data policies that apply to Nasdaq Canada from U.S. and Nordic policies. More information on the updated policy can be found here.

Who should I contact for additional information?

  • Questions about Nasdaq Canada Market Data usage reporting and invoices should be directed to Ca.marketdata@nasdaq.com at +1 301 978 5307


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Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.

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