The new service will distribute Nasdaq Europe market data directly through an Internet feed, supplying trade and volume information for all Nasdaq Europe securities, as well as the Nasdaq Europe Composite Index.
XML (Extensible Markup Language) will be utilised to send data over the Internet to a wide range of users, opening up Nasdaq Europe trade information to a larger audience than ever before. XML is designed to allow structured information such as market data and e-commerce transactions to be distributed over the Web. Unlike other technology solutions, the XML language is easily implemented by the end user and was designed to support the presentation of a wide variety of information. It lends itself extremely well to the distribution of Nasdaq Europe data over the Internet.
This new delivery system will enhance market data distribution industry wide by allowing users to connect to easily accessible Internet resources, reducing hardware and line costs. The new Nasdaq Europe XML product will offer vendors the opportunity to back up traditional costly delivery methods in a timely, transparent and cost effective manner that will be easily integrated into their market data systems. It will also allow websites and other data recipients to take the data directly from Nasdaq Europe, thereby cutting their delivery costs.
Future modifications will allow data recipients and vendors to customise the product to their individual needs for efficient integration into their websites and market data systems.
Commenting on the launch, Ann Neidenbach, Chief Information Officer at Nasdaq Europe said, 'Nasdaq Europe is able to take advantage of new technology advancements to deliver the solutions of the future. We are one of the first exchanges to introduce this type of feed and are proud that Nasdaq Europe is a leader is this part of the market. The XML feed is an easily implemented delivery mechanism and we anticipate that it will attract added interest from vendors, issuers, financial institutions, financial publications, financial websites and education and research institutions.'
