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Thursday, September 20, 2018

Equity Trader Alert #2018 - 78
Nasdaq BX Enhances Minimum Quantity Functionality

Category:

  • New Functionality

Markets Impacted:

Contact Information:

Nasdaq BX (BX) has enhanced Minimum Acceptable Quantity (MAQ) functionality.

Current functionality allows for multiple resting orders to execute against an incoming MAQ order if the resting orders, in aggregate, meet the minimum quantity requirement. This scenario can occur when the order is initially received by BX and the order is marketable (immediately executable) against resting orders on BX.

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 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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