The Nasdaq OMX Group, Inc. is teaming up with research firm, Morningstar, Inc., to provide basic research reports on all of the exchange’s listed companies, the company said Monday.

The reports will include a lengthy company profile, comprehensive data about the company and its industry, and industry context written by a Morningstar analyst. They will not include a Morningstar Rating, or a buy/sell/hold recommendation.

The exchange said that it will now be able to provide all its listed companies with basic research coverage at no cost to the issuer. “This is particularly important for many small- and mid-cap companies that have seen their research coverage shrink or disappear altogether,” it said.

“As public companies seek to tell their story to investors, it is an imperative to have accurate, reliable information out in the marketplace. At the same time, investors need to be able to access insightful and trusted data and research to make investing decisions. Together, Nasdaq OMX and Morningstar are filling a void that has existed for some time, particularly among small- to mid-cap companies,” said Bruce Aust, executive vice president of Nasdaq OMX.

“Our collaboration with Morningstar, which is one of the largest independent sources for stock analysis in the world, exemplifies Nasdaq OMX’s ongoing commitment to provide its issuers with global visibility, valuable services and access to important market information,” he added.

“We see a strong need in the market for this type of research,” said Catherine Odelbo, president of equity research for Morningstar. “The landscape for equity research is shifting, and we’re exploring new ways to get our research to investors.”

Nasdaq OMX and Morningstar expect to begin publishing the reports by the third quarter. They will be available on the exchange’s Web sites, and through most of Morningstar’s key platforms.

IE