Nasdaq Launches Nasdaq Custom Basket Calculation Service in collaboration with S&P Global Market Intelligence

Rhea-AI Summary

Nasdaq (NDAQ) has launched the Custom Basket Calculation Service (CBCS) to meet the growing demand for managing proprietary indexes and ESG investments. This service allows clients to create customized equity baskets with features such as currency and composition. Developed in partnership with S&P Global Market Intelligence, CBCS provides accurate basket calculations and adjustments for corporate actions like stock splits and dividends. Available to Nasdaq Stockholm AB and Nasdaq Clearing members, it aims to enhance flexibility in trading vehicles. Future developments may include options for creating forward contracts.

Positive

• Launch of Custom Basket Calculation Service (CBCS) enhances Nasdaq's service offerings.
• CBCS allows clients to customize equity baskets, improving investment management.
• Collaboration with S&P Global Market Intelligence enhances data quality and service efficiency.

Negative

• None.

STOCKHOLM, Sweden, Oct. 28, 2022 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) today announced the launch of Nasdaq Custom Basket Calculation Service (CBCS). The introduction of CBCS to the market is driven by the increasing demand for a simpler and more efficient way of managing proprietary indexes, thematic baskets, and ESG investments.

CBCS allows clients to design and set up equity baskets with customized features such as currency, return type, composition, and weights from a pre-approved universe of stocks. The calculated basket level and reference data is validated and distributed along with daily basket weight reports.

The service is a result of a close collaboration between Nasdaq and S&P Global Market Intelligence, a provider of data and technology solutions to global markets.

“We are thrilled to see the launch of what is to be the first major product delivery in a wider collaboration between the two firms. Combining our service capabilities will offer enhanced administrative, calculation and distribution services, to provide a seamless, end- to- end workflow and address the demand for bespoke baskets,” said Christopher Hare, Executive Director at S&P Global Market Intelligence. “As we look forward to the next stage in the service, the ability to generate on-demand listed exposure for equity portfolios will introduce an exciting change in the trading vehicles available to consumers, and to the speed at which the customer demand can be satisfied.”

Through the new service, Nasdaq clients can now benefit from the calculation of the basket level for each basket, managed and verified corporate actions such as stock splits, dividends, mergers and acquisitions and the implementation of these changes into the defined baskets in a timely and accurate way.

“With CBCS, our clients get a fully managed solution for custom basket calculations, an outsourced calculation service to avoid conflict of interest by separating the calculation from the end-user’s own business, and a solution which is provided by Nasdaq’s licensed benchmark administrator and thereby ensures a high quality of data,” said James McKeone, VP Head of European Data at Nasdaq. “To build onto this momentum, we also aim to in the near future launch a solution enabling investors to create a forward contract on customized baskets as an alternative to OTC equity swaps.”

The service is available today to Nasdaq Stockholm AB or Nasdaq Clearing members. For more information, please visit.

Clients can access this service via their brokers and dealers that are members of Nasdaq Stockholm AB and/or Nasdaq Clearing AB.

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.

About S&P Global Market Intelligence

At S&P Global Market Intelligence, we understand the importance of accurate, deep and insightful information. Our team of experts delivers unrivaled insights and leading data and technology solutions, partnering with customers to expand their perspective, operate with confidence, and make decisions with conviction.

S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI). S&P Global is the world’s foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world’s leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit www.spglobal.com/marketintelligence.

Media Contacts

Nasdaq

Helle Mayor
Mobile: +45 9132 4030
helle.mayor@nasdaq.com

S&P Global Market Intelligence

Sabrina Mayeen
+44 (0)20 7176 0495
Sabrina.mayeen@spglobal.com

-NDAQG-

FAQ

What is Nasdaq's Custom Basket Calculation Service (CBCS)?

CBCS is a new service that allows clients to create customized equity baskets tailored to their specific investment needs.

Who collaborated with Nasdaq to launch the CBCS?

Nasdaq collaborated with S&P Global Market Intelligence to develop the Custom Basket Calculation Service.

When was the Custom Basket Calculation Service (CBCS) launched?

The CBCS was launched on October 28, 2022.

Who can access the Custom Basket Calculation Service from Nasdaq?

The service is available to Nasdaq Stockholm AB and Nasdaq Clearing members.

What benefits does CBCS provide to Nasdaq clients?

CBCS offers customized basket calculations, management of corporate actions, and aims to enhance trading flexibility.