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Friday, January 21, 2022

Data Technical News #2022 - 4
Nasdaq Introduces Nasdaq Fund Network Web Pricing REST API Inbound Valuation Protocol

Markets Impacted:

Products Impacted:

Contact Information:

What you need to know:

  • On November 22, 2021, Nasdaq introduced the NFN Web Pricing REST API inbound valuation protocol to replace the NFN Web Pricing API.

  • NFN recommends all pricing agents currently using the Web Pricing API migrate to the Web Pricing REST API by the end of Q1 2022. A hard cut date for the retirement of the current Web Pricing API is TBD.

What is changing?

On November 22, 2021, NFN moved to Multi Factor Authentication for all web users. The Web Pricing REST API was introduced as part of the change, to facilitate the new MFA login protocol for web pricing APIs.

How do I transition from Web pricing API to Web Pricing REST API?

Instructions for transitioning from the Web Pricing API to the REST API can be found in the REST API Specification.

Any questions regarding migration to Web Pricing REST API should be directed to NFNOps@nasdaq.com.

Is there additional cost for the new REST API?

No additional cost to NFN users who already have a pricing agent logon ID.

How can I test the new protocol?

Nasdaq offers the following testing options for NFN customers:

Testing Option Interface Options Description
Saturday User Acceptance Test All One Saturday each month with limited support, Nasdaq opens its systems for client testing from 8:00 a.m. to 12:00 noon, Eastern Time (ET). Advance registration required. Production circuits / instruments used. For details, please see Saturday Test Policy page on the Nasdaq Trader website.
NFN Test Symbols All Nasdaq supports test ticker symbols on all NFN interfaces. To prevent symbol proliferation, Nasdaq limits firms to two test symbols per Instrument Type / Tier and Instrument Code combination.

How can I request NFN test symbols?

NFN pricing agents should complete the NFN Test Symbol Request form and remit it via email to NFNOps@nasdaq.com for processing. Given that test symbols are included on the NFN Daily List, Nasdaq will take approximately two business days to process new test symbol request forms.

To prevent symbol proliferation, Nasdaq limits firms to two rest symbols per Instrument Type / Tier and Instrument Code combination. If you are unsure if your firm has already acquired test symbols, reach out to NFNOps@nasdaq.com to confirm existing test symbols.

Where can I get additional information

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


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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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