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Thursday, January 31, 2013

Equity Technical Update #2013 - 7
Limit Up/Limit Industry Test Plan for Saturday, February 2, 2013

Markets Impacted:

Contact Information:

What you need to know:

  • NASDAQ OMX, in coordination with the other exchanges and market participants, will be offering industry wide testing to support both the Limit Up/Limit Down and the revised Market Wide Circuit Breakers on Saturday, February 2, 2013.
  • Each Exchange and their specifically assigned testing members will be running through a set of core scenarios outlined below in names that only they can use.
  • All other industry testing participants will be able to test the functionalities in the symbol list provided below.

What is the purpose of these tests?

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

What is the anticipated industry test plan?

Each Exchange will be asking two member firms to participate in the specific scenarios outlined below. If you have not been notified as one of the testing members by an Exchange you may NOT use the symbols below to test. Exchanges will run through each of the below core scenarios using their assigned testing members in their assigned symbols.

Symbols Reserved for Exchanges Only for Testing

NASDAQ NYSE ARCA NYSE MKT BATS Direct Edge CHX NSX
ORCL A API BBY TSLA BAX ARNA
ZNGA AMD GRMN BA BBBY BBT
CBO INDA BAC YINN

All other industry testing participants that are not specifically assigned as testers may use the following symbol list to run any tests they desire.

Symbols Open for ALL Industry Testing Participants

NASDAQ NYSE ARCA NYSE MKT BATS
ARCC AAP AHB ANV ZBZX
GNTX ABBV ALD ALN* ZTEST
ATML ABC ALT IBO*
ATVI ABT DUST INO*
TFSL CBX DVYL
CPWR CIM ZZK
MRVL AA* ZZZ
MDRX AAN* AKN*
ENDP BF B ANGL*
HBAN BRK B ABI
PLCM JW B AFK
TIBX AGF
TWTC IGZ
UTIW ZVV
ZION
ZVZZT
ZWZZT

*Customer testing is permitted only after 10:30 a.m., ET

What are the anticipated scenarios that the Exchanges and their selected testing parties will run?

Refer to the LULD/MWCB Industry Testing Plan document on the NASDAQ Trader® Testing webpage for detailed information about the anticipated scenarios that the Exchanges and their selected testing parties will run.

May industry participants that are not specifically assigned as testers also run through the above scenarios?

Yes. Provided they do not use the symbols assigned only to Exchanges.

Will there be a simulated Market Wide Circuit Breaker?

No. The next planned MWCB industry test is on March 2, 2013.

What will be available and when?

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 1:00 p.m., ET.

LULD Price Bands will be in effect from 9:45 a.m., ET – 11:30 a.m. ET.

What are the available test dates?

Refer to ERA #2013-1 for the previously announced industry wide testing.

What test symbols will be available in production for LULD on Monday, February 4, 2013?

Refer to ETU #2013-6 for the list of test symbols that will be available in production for LULD.

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?


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