Tuesday, January 08, 2019

Equity Trader Alert #2019 - 5
Nasdaq Saturday, January 12, 2019, Test Opportunity

Category:

  • Testing

Markets Impacted:

Contact Information:

Resources:

Nasdaq Production system will be open from 9:00 a.m. to 12:00 p.m. Eastern Time (ET) for general customer testing this Saturday, January 12, 2019. A complete list of products and systems available during the test and the full list of Saturday testing dates can be found on the Saturday Testing Policy Page.

In addition to regular testing on Saturday, January 12, the following new functionality will be available for market participant testing:

  • Nasdaq, BX and PSX to Update the Display of Best Priced Orders to the SIPs
  • Nasdaq to Introduce Midpoint Trade Now Functionality

Nasdaq, BX and PSX to Update the Display of Best Priced Orders to the SIPs

Beginning late January 2019, The Nasdaq Stock Market, Nasdaq BX and Nasdaq PSX (“Exchanges”) will update how resting displayed odd-lot orders are handled when aggregated and transmitted to the appropriate Securities Information Processor (SIP) for display as the Exchange’s best priced order. Please see Equity Trader Alert #2019 - 3 for additional information. This new functionality will be available for production testing during the January 12 UAT for The Nasdaq Stock Market and Nasdaq BX only.

Nasdaq to Introduce Midpoint Trade Now Functionality

The Nasdaq Stock Market will introduce a new “Midpoint Trade Now” option, providing participants the ability to specify on the original order that once posted on the Nasdaq book, if the order is locked by a Midpoint Peg Post-Only (“MPPO”) contra-side order, the resting order will attempt to remove liquidity against locking contra-side orders up to its available size; any unexecuted portion of the resting order will remain posted at its price, with no change in order priority. Please see Equity Trader Alert #2019 – 4 for additional information.


Firms must register for Saturday testing by contacting Nasdaq Trading Services by 12:00 p.m. (ET), on the Friday prior to the Saturday test in which they would like to participate. The 2019 Saturday Test schedule can be found on the Saturday Testing Policy Page.

The Nasdaq Testing Facility (NTF) is also available on a daily basis and allows firms to test their automated systems that integrate with Nasdaq services.


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.