Nasdaq BX (BX)
Nasdaq BX (BX) is a Reg NMS protected quote featuring a price/time priority market structure and popular trading functionality. With a rebate to remove liquidity, BX offers attractive economics for liquidity takers. This pricing structure creates opportunities for adders of liquidity as well, providing a way to maximize execution possibilities.
Features and Functionality
BX features many of the popular order types and functionality. Clients can take advantage of the Mid-Point Peg and Post-Only orders, Order Modify functionality and Self Match Prevention on the fast and efficient INET technology. In addition, BX now offers Routing and Minimum Quantity Orders.
For adders of liquidity, BX offers discounted add rates through the BX Qualified Liquidity Provider (QLP) program. Those who meet the program criteria receive a discounted fee to add liquidity of $0.0015 per share.
Nasdaq Order Type Guide
Nasdaq's equity order types are designed to help members comply with regulation and execute a range of trading strategies. To better help members understand the available order types, view the Order Type Guide.
Through our primary data center, firms can access all eight of Nasdaq's U.S. markets. Nasdaq also offers customers the ability to connect to our markets from key financial data centers outside our Carteret facility through our Point of Presence Service.
The following protocols are available for accessing BX:
Explore the variety of proprietary data products Nasdaq offers to support the BX market.
Nasdaq BX TotalView-ITCH - Provides full order depth with attribution and last sale information.
BX Historical TotalView ITCH - Offers a historical record of the order and trade transaction data from the BX TotalView-ITCH data feed. Subscribers to this historical product may download daily transaction logs on a T+1 basis from a secured website or FTP server.
BX Basic - Provides key data elements for all exchange-listed equities traded on the BX execution system.