Mutual Fund Pricing Requirements

Data Feed Requirements

XigniteFunds delivers mutual fund pricing information from NASDAQ's Mutual Fund Dissemination Service. NASDAQ defines reception of fund pricing data in XML format as a data feed. NASDAQ considers the retransmission to be a data feed if the data distributor (i.e Xignite) does not control either the entitlements or the display of the market data within your firm. Since the display and delivery of mutual fund pricing information is ultimately determined by your application, XigniteFunds fits this description.

The NASDAQ Market Data Policies requirements differ based on whether you are providing the XigniteQuotes information internally (to employees) or externally (to external susbcribers). Choose the section below that applies to your firm. If you distribute data both externally and internally then use the External Data Distribution Requirements.

Internal Data Distribution Requirements

The NASDAQ Market Data Policies require all firms receiving a data feed and distributing the data internally to:

• Be assessed a $500 Annual NASDAQ Administrative fee for redistribution of NASDAQ market data and a $250 Annual UTP (Unlisted Trading Privilege) Administrative fee.
• Execute an NASDAQ Internal Data Feed Agreement Recipient Agreement.
• Complete a System Description For Delayed Distribution Only.

Note that if you use both the XigniteFunds and XigniteQuotes services, NASDAQ will charge you the $250 Annual UTP fee once, and the $500 Annual NASDAQ Administrative fee twice for a total of $1250 annually.

Upon subscribing to this service, you must:

• Complete and fax the System Description for Delayed Distribution Only to 650-655-3703.
  For instructions on how to fill this agreement, please check here.
• Execute and fax the Data Feed Agreement to 650-655-3703.
  • For instructions on how to fill this form, please check here.
  • You must only complete the NASDAQ Internal Data Feed Agreement Recipient Agreement section of the document (Pages 3 to 10).
  • Do not complete the NASDAQ Data Feed Control Questionnaire (Pages 11 and on).
  • Mail two original executed copies of the agreement to:
    
    Xignite, Inc.
    901 Mariners Island Boulevard, Suite 325
    San Mateo, CA 94404

We will transmit these documents to NASDAQ once we receive them. NASDAQ will invoice your firm separately for the fees listed above.

External Data Distribution Requirements

The NASDAQ Market Data Policies require all firms receiving a data feed and distributing the data externally to:

• Be assessed a $500 MONTHLY NASDAQ Administrative fee for redistribution of NASDAQ market data and a $250 Annual UTP (Unlisted Trading Privilege) Administrative fee.
• Execute an NASDAQ Vendor Agreement.
• Complete a System Description For Delayed Distribution Only.

Note that if you use both the XigniteFunds and XigniteQuotes services, NASDAQ will charge you the $250 Annual UTP fee once, and the $500 MONTHLY NASDAQ Administrative fee for Mutual Funds and a $500 annual Administrative fee for Delayed Quotes for a total of $6,750 annually.

Upon subscribing to this service, you must:

• Complete and fax the System Description for Delayed Distribution Only to 650-655-3703.
  For instructions on how to fill this agreement, please check here.
• Execute and fax the Vendor Agreement to 650-655-3703.
  • For instructions on how to fill this form, please check here.
  • You must only complete the NASDAQ Internal Data Feed Agreement Recipient Agreement section of the document (Pages 3 to 10).
  • Do not complete the NASDAQ Data Feed Control Questionnaire (Pages 11 and on).
  • Mail two original executed copies of the agreement to:
    
    Xignite, Inc.
    901 Mariners Island Boulevard, Suite 325
    San Mateo, CA 94404

We will transmit these documents to NASDAQ once we receive them. NASDAQ will invoice your firm separately for the fees listed above.