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Wednesday, February 19, 2014

Equity Technical Update #2014 - 4
Limit Up/Limit Down Test Date Reminder

Category:

  • Testing

Markets Impacted:

Contact Information:

Resources:

The NASDAQ Stock Market® (NASDAQ®), NASDAQ OMX BXSM (BXSM) and NASDAQ OMX PSXSM (PSXSM) will offer testing this Saturday, February 22, 2014 to prepare for the Monday, February 24, 2014 NMS date that will add the last 15 minutes of regular trading to the Limit up Limit Down Plan.

Testing Period Details

This Saturday's testing is part of an effort to ensure that our Members are prepared for the market wide changes relating to the implementation of Limit Up/Limit Down during the final 15 minutes of regular market hours trading. In addition to the market wide changes, NASDAQ has filed with the SEC to reflect changes to the existing closing processes and would like to offer firms the opportunity to test these changes. Refer to Equity Trader Alert #2014-3.

NASDAQ OMX® will simulate an actual close at 12:00 p.m., ET with the bands doubling at 11:35 a.m., ET. NASDAQ OMX has prepared a detailed test script as a guide to assist firms on the day of testing. We encourage firms to perform similar scenarios to those outlined in the test scripts. NASDAQ’s Market Operations Team will be executing each of the tests outlined in the script to assist firms. Nearly all of the NASDAQ listed symbols will be available to test independently by firms. However, NASDAQ is specifically reserving 9 symbols and asks firms to not use these symbols for testing on February 22nd. The same test script that was previously published for the tests on February 8th will be followed this Saturday.

Action Required

Firms should email NASDAQ OMX Trading Services to register for the test. Should any questions arise during the testing period, Customers should contact the NASDAQ OMX Trade Desk at +1 212 231 5100.


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