Thursday, October 16, 2014
Equity Trader Alert #2014 - 89
Nasdaq Enhances Minimum Quantity Functionality
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Subject to approval by the Securities and Exchange Commission (SEC), Nasdaq will update Minimum Acceptable Quantity (MAQ) functionality effective Friday, November 21, 2014, to include a new optional feature that avoids aggregation of contra-side orders to fulfill the minimum quantity designation on the order. The new optional feature for MAQ allows participants to configure their MPID to only allow MAQ orders to execute when one contra-side order is equal to or greater than the minimum quantity designation on the order. Nasdaq will consider adding this feature to BX and PSX at a later date. To update your firm's MAQ settings please contact Trading Services at +1 212 231 5100. |
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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.