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Thursday, April 10, 2014

Equity Technical Update #2014 - 8
Limit Up/Limit Down User Acceptance Testing on Saturday, April 12, 2014

Category:

  • Testing

Markets Impacted:

Contact Information:

Resources:

As a part of the regularly scheduled industry User Acceptance Testing (UAT), NASDAQ OMX will be offering industry wide testing to support Limit Up/Limit Down (LULD) Phase 2 implementation Saturday, April 12, 2014.

Testing Details

These Saturday tests are being provided to ensure that our Members are prepared for the changes relating to the implementation of Limit Up/Limit Down during the final 15 minutes of regular market hours trading for NASDAQ Listed Securities. As a result of LULD Phase II(B), NASDAQ filed and was approved by the SEC to amend its rules to reflect modifications to the existing closing processes and would like to offer firms the additional opportunity to test these changes.

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. The NASDAQ OMX 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 for firms to test independently. However, NASDAQ OMX is specifically reserving 9 symbols and asks firms to not use these symbols for testing.

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.

Firms may also test daily in the NASDAQ OMX Test Facility. To coordinate testing in the NTF, contact NASDAQ OMX Trading Services.


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