Tuesday, December 05, 2017

Equity Trader Alert #2017 - 210
Nasdaq to Begin Listing New NextShares on Thursday, December 7, 2017

Category:

  • Listing

Markets Impacted:

Contact Information:

Resources:

Effective Thursday, December 7, 2017, Nasdaq will list the following new NextShares:

  • Hartford Global Impact NextShares Fund (Ticker: HFGIC)

NextShares Data Dissemination

Quotation and trade data for Nasdaq-listed ETMFs are disseminated via UTP Level 1, Nasdaq Basic, Nasdaq Level 2, and Nasdaq TotalView-ITCH. As outlined in NextShares display guidelines, Nasdaq will disseminate NextShares quotation and trade data in proxy price format or NAV offset value format.

Dissemination of the daily valuation information for the NextShares will begin Thursday, December 7, 2017. For NextShares, the daily net asset value (NAV) will be disseminated via the Mutual Fund Dissemination Service (MFDS) and the Intraday Indicative Value (IIV) will be disseminated at 15 minute intervals via the Nasdaq Global Index Data Service (GIDS).

For GIDS, Nasdaq symbols will be:

Issue Name for ETF Eaton Vance Oaktree Diversified Credit NextShares
Nasdaq-listed Trading Symbol HFGIC
Intraday Indicative Value HFGIC.IV
Estimated Cash Amount Per Creation Unit HFGIC.EU
Total Cash Amount Per Creation Unit HFGIC.TC
Net Accrued Dividend HFGIC.DV
Net Asset Value HFGIC.NV
Total Shares Outstanding HFGIC.SO

Please note that the NAV field on GIDS is intended for reference purposes only. The GIDS field is not used for actual trade price calculations.

For MFDS, the NAV symbol will be “HFGICNX”. Nasdaq will use the NAV value from the MFDS 6:45 p.m. summary spin for its actual trade price calculations at the end of the trading day.

NextShares Registered Market Maker

Virtu (MPID:NITP) will be the Registered Market Maker for:

  • Hartford Global Impact NextShares Fund (Ticker: HFGIC)

Market Makers

You may register as a market maker by contacting Nasdaq Trade Desk at +1 212 231 5100. Market makers in the NextShares can register beginning Thursday, December 7, 2017.

All purchasers of newly issued NextShares must receive a prospectus or product description.

NextShares Trading Eligibility

In order for a market participant to trade NextShares, participants must first:

  1. Complete and submit NextShares Trading Addendum Form
  2. Complete NextShares Certification testing with the Nasdaq Trade Desk

In order to trade NextShares, market participants will need to complete the trade addendum, certification testing, ensure the end of day correction process occurs and that no issues are encountered. Once this process is complete and the addendum is on file market participants will have all production ports enabled the following business day to trade NextShares.

For more information on this new asset class, refer to the NextShares web page.


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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 $12 trillion. To learn more, visit: business.nasdaq.com.