What is changing?

NASDAQ OMX will release new versions of the MFDS data feed formats on Monday, December 6, 2010. The new MFDS data formats include the following enhancements:

• Streamlined messaging for Mutual Funds, Unit Investment Trusts (UITs) and Annuities with expanded Net Asset Value (NAV) and Offer/Market Price fields.
• Enhanced Money Market Fund messages to accommodate NAV and other data elements outlined in the SEC Money Market Reform Act of 2010.
• New messaging for Dividends and Distributions to allow for advance reporting of corporate actions.

Why is NASDAQ OMX making the changes?

NASDAQ OMX is modifying the MFDS data formats based on customer feedback as well as new marketplace rules.

Last year, NASDAQ OMX conducted a survey of MFDS and Mutual Fund Quotation Service^SM (MFQS^SM) subscribers to determine the value of proposed data format changes and system enhancements. Based on the survey results, the top MFQS / MFDS data format enhancements were:

• Separate Dividends and Distribution messages with expanded date fields
• Ability to report Dividends and Distributions in advance
• Addition of Net Asset Value (NAV) field to the money market fund message

Firms also wanted NASDAQ OMX to expand NAV and offer/price field size and add yield direction fields to all MFQS and MFDS message formats.

Subsequent to the survey, the SEC adopted the Money Market Reform Act of 2010. With the new regulations, the SEC outlined new valuation fields to be reported by the money market funds. Because of the importance of this legislation, NASDAQ OMX is adding the new data elements to the MFQS / MFDS products.

When will the MFDS release be implemented?

NASDAQ OMX will implement the new MFDS outbound message formats as a hot cut release on Monday, December 6, 2010.

How will the MFDS release be implemented?

For NASDAQ OMX direct data feed subscribers, NASDAQ OMX will introduce the new MFDS data formats as a hot cut release on Monday, December 6, 2010. To facilitate the MFDS transition, NASDAQ OMX will use new message category and message type values for the new MFQS outbound valuation message formats. In order to ensure uninterrupted data access, MFDS subscribers must code to the new message formats by December 6^th.

What is the new MFDS data mapping for the December 6^th release?

For the December 6^th release, NASDAQ OMX will update a number of MFDS message formats. The following table includes a summary of the data mapping:

For full release information (including field level data mapping), please refer to the MFDS Data Feed Specification – Version 2010-1.

Will NASDAQ OMX modify the MFQS inbound data formats?

Yes. For information on the new MFQS inbound message formats, please refer to MFQS News #2010-4.

When will NASDAQ OMX offer testing opportunities for the MFQS 0050 release?

NASDAQ OMX will offer one month’s worth of evening test data transmissions via the production MFDS data channels beginning Monday, November 8, 2010.

NASDAQ OMX will also conduct three Saturday user acceptance tests (UATs) for MFQS and MFDS subscribers in advance of the release. The UAT dates are tentatively scheduled for:

• Saturday, November 13, 2010
• Saturday, November 20, 2010
• Saturday, December 4, 2010

NASDAQ OMX will post a testing reminder for the MFDS subscribers once the testing dates are confirmed.

Will NASDAQ OMX modify the MFQS symbology on December 6, 2010?

No. While NASDAQ OMX is expanding the MFQS symbol as part of the MFDS message format changes, it will not change the MFQS symbol format on December 6^th.

NASDAQ OMX has been asked to change to the MFQS symbol format as part of the market-wide equity symbology initiative. Given the scope of work involved, NASDAQ OMX will be looking at MFQS symbology changes as a 2011 initiative.

Who can I find additional information?

• Refer to the MFDS product page on the NASDAQ OMX Trader website.
• Refer to MFQS News #2010-4.
• Contact NASDAQ OMX Global Data Products at +1 301 978 5307 (Option #4).
• Contact NASDAQ OMX Mutual Fund Operations at +1 877 308 0523.