Search:
   

Monday, January 7, 2013

Equity Regulatory Alert #2013 - 1
Revised Limit Up/Limit Down and Market Wide Circuit Breaker Industry Test Dates

Markets Impacted:

Contact Information:

What you need to know:

  • Pending SEC approval, NASDAQ OMX is revising the previously announced industry testing dates in support of Limit Up/Limit Down and Market Wide Circuit Breakers communicated in ETA #2012-49.
  • NASDAQ OMX is now planning to offer industry wide testing to support both the Limit Up/Limit Down and the revised Market Wide Circuit Breakers on select Saturdays beginning on January 26, 2013.
  • In addition, a revised implementation rollout for both Limit Up/Limit Down and Market Wide Circuit Breakers is outlined below, pending SEC approval.

What is the revised implementation schedule?

A revised implementation schedule of the Plan, pending Securities and Exchange Commission (SEC) approval, will be modified as follows:

  • Monday, February 4, 2013 - Full LULD Support for Test Symbols
  • Monday, April 8, 2013 - LULD Phase 1 Rollout Begins
  • Monday, April 8, 2013 - MWCB Rollout
  • Friday, May 31, 2013 - LULD Phase 1 Rollout Complete
  • Thursday, August 1, 2013 - LULD Phase 2 Rollout Begins
  • Monday, September 30, 2013 - LULD Phase 2 Rollout Complete

Please note that more information relating to testing windows, scripts and symbols will be announced at a later date.

What are the available test dates?

The NASDAQ Stock Market® (NASDAQ®), NASDAQ OMX BXSM (BXSM) and NASDAQ OMX PSXSM (PSXSM) will offer the below revised industry wide testing on the following Saturdays in the following formats, pending SEC approval.

  • Saturday, January 26, 2013 - Industry Wide LULD and MWCB Test –Scripted / Limited symbols
  • Saturday, February 2, 2013 - Final Industry Wide LULD before test symbols go live – Partially Scripted / Limited symbols
  • Saturday, March 2, 2013 - Industry Wide LULD and MWCB Test –Scripted / Limited symbols
  • Saturday, April 6, 2013 - Final Industry Wide LULD before Phase I rollout – Partially Scripted / Limited symbols

The NASDAQ Options MarketSM (NOM), NASDAQ OMX PHLXSM (PHLX®) and NASDAQ OMX BX OptionsSM (BX Options) will be participating in only the last two of the above testing dates.

What will be available for testing?

NASDAQ OMX production systems will be available for pre-market trading in all securities at 9:00 a.m., Eastern Time (ET), followed by a market open at 9:30 a.m., ET. A market close event will be scheduled for 12:00 p.m., ET.

What is the purpose of these tests?

NASDAQ OMX is conducting these Saturday tests as part of an industry wide effort to ensure that our Members are properly prepared for the upcoming market wide system changes for Limit Up/Limit Down and the revised Market Wide Circuit Breakers.

What does my firm need to be prepared to support in production on February 4, 2013?

All firms should be prepared to receive and process both SIP and proprietary data feed services for full LULD functionality in test symbols.

Do customers need to register for the test?

Yes, firms should email NASDAQ OMX Trading Services to register for the test.

Who should customers contact if they have questions during testing?

Customers should contact the NASDAQ OMX Trade Desk at +1 212 231 5100.

Where can I find additional information?


Email Alert Subscriptions:
Nasdaq offers customers the ability to self select news delivery across various Nasdaq markets. Create and maintain a profile for updating alert preferences and contact information. Visit the enrollment form on the Nasdaq Trader website and sign up today! Please note that if you choose to unsubscribe from an email list, you may no longer receive potentially critical emails from the NASDAQ Stock Market regarding Nasdaq's trading and data products, regulatory issues or marketplace initiatives. To unsubscribe, also click on the enrollment form

Please follow Nasdaq on Facebook RSS and Twitter.

Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.

View NASDAQTrader.com Mobile