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Monday, September 27, 2010

Data Technical News #2010 - 30
NASDAQ OMX Postpones MFDS Message Format Release

Product Impacted:

  • Mutual Fund Dissemination Service (MFDS) Data Feed

Contact Information:

What you need to know:

  • As outlined in Data Technical News #2010-24, NASDAQ OMX® plans to release new Mutual Fund Dissemination ServiceSM (MFDSSM) message formats to support:
    • Advance reporting of dividends, interest payments and other distributions by MFQS fund families and trust sponsors.
    • New money market fund data elements as defined in the Securities and Exchange Commission (SEC) Money Market Reform Act of 2010.
  • NASDAQ OMX has decided to postpone this MFQS release and will implement the MFDS data formats on Monday, March 21, 2011.

When will the MFDS release be implemented?

NASDAQ OMX will now release the new MFQS 0050 inbound message formats and new MFDS outbound message formats on Monday, March 21, 2011.

Why is NASDAQ OMX postponing the release?

NASDAQ OMX is postponing the MFDS release by three months based on input from customers as well as its development staff. NASDAQ OMX had originally planned to release the MFQS 0050 codes on December 6, 2010.

What data format changes are planned for MFDS?

The new MFDS data formats will support the following data enhancements requested by fund families, trust sponsors and market data vendors:

  • 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.

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, March 21, 2011. To facilitate the MFDS transition, NASDAQ OMX will use new message category and message type values for the new MFQS outbound valuation message formats.

What is the new MFDS data mapping for the March 21, 2011 release?

For the March 21, 2011 release, NASDAQ OMX will update a number of MFDS message formats. The following table includes a summary of the data mapping:

MFDS Message Format
New Messages to be Released
Old Messages to be Retired
Message Category Message Type Message Category Message Type(s)
MFQS Valuation – Mutual Funds, UITs, Annuities and Structured Products F E F D, G, I
MFQS Valuation – Money Market Funds F F F H
MFQS Corporate Actions – Dividends / Interest (All instruments) F Y F D, G, I
MFQS Corporate Actions – Distributions (All instruments) F Z F D, G, I
MFQS Directory A D A F

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 #2010-5.

When will NASDAQ OMX offer testing opportunities for the March 21, 2011 release?

NASDAQ OMX will offer one month’s worth of evening test data transmissions via the production MFDS data channels beginning Monday, February 14, 2011.

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, March 5, 2011
  • Saturday, March 12, 2011
  • Saturday, March 19, 2011

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

Where can I find additional information?

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