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NextShares

Launched on the Nasdaq Stock Market in 2016, NextShares are a hybrid of exchange-traded funds (ETFs) and an actively managed mutual fund. They feature lower costs and more tax benefits than actively managed funds, but holdings only need to be disclosed monthly or quarterly.

NextShares is exclusively permitted for trading during normal U.S. market hours (9:30 a.m. to 4:00 p.m., Eastern Time).

Market Data for NextShares includes intraday quotation and trade data, intraday indicative values (IIVs) and end of day net asset value (NAVs). Because NextShares trade using a NAV-based model, real-time quotes and trades data are stated in proxy price to reflect the premium / discount to the NAV for the market participants’ transactions. NextShares quotation and trade data is available through existing U.S. equity data products including Nasdaq Basic, Nasdaq Last Sale, Nasdaq TotalView, Nasdaq Level 2, NOIView and NOIS. IIV data is disseminated via the Nasdaq Global Index Data Service (GIDS). NAVs are disseminated via the Mutual Fund Dissemination Service (MFDS).

For more information, please refer to the NextShares Frequently Asked Questions or contact mailto:ETFs@nasdaq.com.