Nasdaq OMX to disseminate index data for Russell Investments
14 December 2009 | 1102 views | 0
Source: Nasdaq OMX
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and Russell Investments today announced that NASDAQ OMX(R) has been selected as the primary source of real-time index values for Russell's global and ex-U.S. indexes.
In order to more broadly distribute this comprehensive, rules-based index information, NASDAQ OMX will begin disseminating real-time values for the Russell Global Indexes on January 11, 2010 via its premier index service, the Global Index Data Service(SM) (GIDS(SM)). GIDS subscribers have low administrative and technology costs and GIDS is designed to facilitate excellence in trading performance and portfolio valuation due to its frequent dissemination of index data. GIDS supports a diverse array of NASDAQ OMX-branded indexes that cover equities, bonds, commodities and exchange traded funds (ETFs), as well as third party partnered indexes.
"Russell and NASDAQ OMX clients worldwide will have instant access to our comprehensive global index data, equipping them with the sharpest picture of the global investment landscape," said Rolf Agather, Russell's director of index research and innovation. "This arrangement streamlines our process for efficiently delivering real-time, delayed and end-of-day data through existing data feeds."
"We are pleased to be selected to disseminate index values for a leading index provider like Russell Investments," said Randall Hopkins, Senior Vice President of Global Data Products, NASDAQ OMX. "By leveraging the capabilities of NASDAQ OMX, critical Russell index information is delivered to the market in real-time and in a highly scalable manner for customers. This agreement expands the relationship between our organizations which work closely together during the annual reconstitution of Russell indexes."
Since 2004, Russell has leveraged the NASDAQ Closing Cross for the annual reconstitution of its U.S. indexes. The NASDAQ Closing Cross is used to determine NASDAQ official closing prices (NOCPs) which are widely used throughout the financial industry.