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Monday, August 20, 2018
Data Technical News #2018 - 21
UPDATED: Nasdaq Announces Availability of FINRA/Nasdaq TRF Chicago Trade Data on Nasdaq Last Sale and NLS Plus
Markets Impacted:
Product Impacted:
Contact Information:
- Nasdaq Global Information Services at +1 301 978 5307
What you need to know:
UPDATE: New versions of the NLS products will be included in the production User Acceptance Test(UAT) occurring this Saturday, September 8. Details of the test are outlined here. Please note that Saturday UAT Production testing will be 9:00 am – 12:00 pm, so distributors of Nasdaq Last Sale 3.0, Nasdaq Last Sale Plus 3.0, and Nasdaq TRF Trades Filterview 3.0 will have the opportunity to test trade reports from the FINRA/Nasdaq TRF Chicago between those hours on the production IP’s provided.
The new FINRA/Nasdaq TRF Chicago is scheduled for production launch on September 10, 2018 for a specified set of test securities and on September 24, 2018 for all NMS stocks. Trade data reported to the FINRA/Nasdaq TRF Chicago will only be available on new versions of Nasdaq Last Sale, Nasdaq Last Sale Plus, as well as relevant FilterView offerings.
Customers must migrate to the new product versions to receive reported transactions from the new FINRA/Nasdaq TRF Chicago facility.
The 2.1 versions of Nasdaq Last Sale, NLS Plus, and Nasdaq TRF Trades FilterView will exist in parallel until the end of 2018 and be retired on December 31, 2018.
What is changing?
The introduction of a new market center into the Nasdaq Last Sale, NLS Plus, and NLS TRF Trades FilterView products required changes to the infrastructure that that combines Nasdaq and FINRA/Nasdaq TRF trade reports into a single data stream. In order to minimize disruption to our existing customer base, Nasdaq has implemented a parallel deployment of the new product versions. Milestones of this deployment are as follows:
- August 20: New product IP addresses announced
- September 8: Production UAT including FINRA/Nasdaq TRF Chicago trade reports– details for testing are in the Equity Trader Alert
- September 10: FINRA/Nasdaq TRF Chicago goes live with Test symbol support
- September 24: FINRA/Nasdaq TRF Chicago begins accepting trade reports for all NMS stocks
- December 31: Existing 2.1 versions of the products will be retired
What is the FINRA/Nasdaq TRF Chicago?
The FINRA/Nasdaq Trade Reporting Facility® has offers reporting of off-exchange trade reporting in NMS stocks and has built its reputation on efficient, real-time functionality and client service. As market structure and regulation continue to evolve, Nasdaq strives to keep the FINRA/Nasdaq TRF at the forefront of innovation, providing our customers with industry-leading technology solutions.
Nasdaq is expanding this offering with a new FINRA/Nasdaq Trade Reporting Facility located in Chicago. FINRA/Nasdaq TRF Chicago will leverage the same technology, functionality and features that the existing FINRA/Nasdaq TRF Carteret provides. The optional combined use of FINRA/Nasdaq TRF Carteret and FINRA/Nasdaq TRF Chicago will offer customers a convenient and efficient option to comply with FINRA’s requirements with respect to back-up trade reporting arrangements pursuant to FINRA’s Trade Reporting Notice, further increase resiliency and mitigate their risks, including the risks associated with outages.
For more information and details on the FINRA/Nasdaq TRF facilities in Carteret and Chicago, please visit www.business.nasdaq.com/trf
What is changing on the new product specifications?
The specifications have been updated to include a new Market Center Identification Code for the FINRA/Nasdaq TRF Chicago. The new Market Center ID is the number “2”. The product specifications have been updated to include the new value for FINRA/Nasdaq TRF Chicago and are available directly at the below links.
When will new updated product specifications be available?
New versions of the specification are now available at www.nasdaqtrader.com
Nasdaq Last Sale 3.0:
Nasdaq Last Sale Plus 3.0:
Nasdaq Last Sale TRF FilterView 3.0:
Should I expect any differences between the old and new versions of these products?
While trade data from FINRA/Nasdaq TRF Chicago is the only new market data content being added to the upgraded NLS suite of products, it is not the only difference customers should expect to see during this transition.
Customers should expect to also see a difference in timestamps between versions of the products due to changes in processing logic on the NLS suite of products. Current versions of Nasdaq Last Sale and NLS Plus disseminate trades in a temporally monotonic fashion. Upgraded versions of NLS will disseminate transactions as they are received with a timestamp that reflects the actual execution timestamp from the relevant market center. This change will introduce non-monotonic sequencing of timestamps, which will effectively allow for a trade report to predate a trade report that was received prior.
Will this impact me if I am a Nasdaq Basic Customer?
Yes. Nasdaq Last Sale has helped to fuel price transparency and distribution across investor portals and start-ups that benefit the investing public. Nasdaq Basic is the name of Nasdaq’s industry leading product that combines the benefits of Nasdaq Last Sale with QBBO, the quotes generated from the largest liquidity pool of US equities. Because Nasdaq Last Sale and NLS Plus are the trade portion of Nasdaq Basic, all Nasdaq Basic customers must also migrate to the new IP in order to receive FINRA/Nasdaq TRF Chicago data through Nasdaq Last Sale once the FINRA/Nasdaq TRF Chicago goes live on September 10, 2018.
What should I expect to happen in September?
The production launch of FINRA/Nasdaq TRF Chicago is scheduled for September 10th. For two weeks following “go live”, Nasdaq will only support the reporting of specific test symbols to FINRA/Nasdaq TRF Chicago. A complete list of test symbols is outlined below.
Starting on September 24, all Reg NMS stocks will be available for reporting on FINRA/Nasdaq TRF Chicago, and subscribers of upgraded NLS data products will begin to receive, on the new IP’s provided below, trade data from the FINRA/Nasdaq TRF Chicago.
Do I need to move to a new version of the impacted products on new IP Addresses?
Yes. Nasdaq Last Sale, NLS Plus, and the Nasdaq TRF FilterView Trades products are all being upgraded to accommodate content from the new FINRA/Nasdaq TRF Chicago facility. All firms must migrate to the new versions by September 24, 2018 to receive data from the FINRA/Nasdaq TRF Chicago.
Existing versions of these products will remain live and run in parallel until December 31, 2018, at which point they will be retired.
What if we are not connected to the new IP addresses before September 24, 2018?
Nasdaq Last Sale 2.1, Nasdaq Last Sale Plus 2.1, and Nasdaq TRF Trades FilterView 2.1 will continue to distribute content they distribute today until December 31, 2018, so there will be no interruption to service on the existing data products.
However, after September 24, trade data submitted to the new FINRA/Nasdaq TRF Chicago facility will not be published to any subscriber of the current product versions. Customers who continue to subscribe to Nasdaq Last Sale 2.1, Nasdaq Last Sale Plus 2.1, and Nasdaq TRF Trades FilterView 2.1 after September 24 will not receive FINRA/Nasdaq TRF Chicago trade data, which, as noted above, will only be available on the upgraded versions of the products.
What are the new Multicast Groups for these new versions of NLS and NLS Plus?
The new Multicast groups have been updated to www.NasdaqTrader.com, but are available below as well:
| Nasdaq Last Sale – Version 3.0 | ||||
|---|---|---|---|---|
| UDP/IP Protocol Standard: MoldUDP64 Initial Release Date: |
||||
| Site | Channel/Purpose | Group | Port | Source IP Address |
| New York Metro Area "A" – U.S. | Broadcast – Single Channel | 233.54.12.18 | 18130 | 206.200.112.224/28 |
| Rerequest | 18131 | 206.200.112.22 | ||
| New York Metro Area "B" – U.S. | Broadcast – Single Channel | 233.49.196.18 | 18130 | 206.200.112.240/28 |
| Rerequest | 18131 | 206.200.112.47 | ||
| Chicago Metro Area "A" – U.S. | Broadcast – Single Channel | 233.187.20.68 | 18130 | 206.200.113.224/28 |
| Rerequest | 18131 | 206.200.113.22 | ||
| Chicago Metro Area "B" – U.S. | Broadcast – Single Channel | 233.211.120.68 | 18130 | 206.200.113.240/28 |
| Rerequest | 18131 | 206.200.113.47 | ||
| London Metro "A" – U.K | Broadcast – Single Channel | 233.127.56.18 | 18130 | 206.200.10.228/28 |
| Rerequest | 18131 | 206.200.10.37 | ||
| London Metro "B" – U.K | Broadcast – Single Channel | 233.127.56.88 | 18130 | 206.200.10.240/28 |
| Rerequest | 18131 | 206.200.10.41 | ||
| Hong Kong Metro "A" – H.K. | Broadcast – Single Channel | 233.127.56.18 | 18130 | 206.200.10.228/28 |
| Rerequest | 18131 | 206.200.10.37 | ||
| Hong Kong Metro "B" – H.K. | Broadcast – Single Channel | 233.127.56.88 | 18130 | 206.200.10.240/28 |
| Rerequest | 18131 | 206.200.10.41 | ||
| NLS - TRF Trades Filterview – Version 3.0 | ||||
|---|---|---|---|---|
| UDP/IP Protocol Standard: MoldUDP64 Initial Release Date: |
||||
| Site | Channel/Purpose | Group | Port | Source IP Address |
| New York Metro Area "A" – U.S. | Broadcast – Single Channel | 233.54.12.19 | 18130 | 206.200.112.224/28 |
| Rerequest | 18131 | 206.200.112.23 | ||
| New York Metro Area "B" – U.S. | Broadcast – Single Channel | 233.49.196.19 | 18130 | 206.200.112.240/28 |
| Rerequest | 18131 | 206.200.112.48 | ||
| Chicago Metro Area "A" – U.S. | Broadcast – Single Channel | 233.187.20.69 | 18130 | 206.200.113.224/28 |
| Rerequest | 18131 | 206.200.113.23 | ||
| Chicago Metro Area "B" – U.S. | Broadcast – Single Channel | 233.211.120.69 | 18130 | 206.200.113.240/28 |
| Rerequest | 18131 | 206.200.113.48 | ||
| London Metro "A" – U.K | Broadcast – Single Channel | 233.127.56.19 | 18130 | 206.200.10.228/28 |
| Rerequest | 18131 | 206.200.10.38 | ||
| London Metro "B" – U.K | Broadcast – Single Channel | 233.127.56.89 | 18130 | 206.200.10.240/28 |
| Rerequest | 18131 | 206.200.10.42 | ||
| Nasdaq Last Sale Plus – Version 3.0 (NASDAQ) | ||||
|---|---|---|---|---|
| UDP/IP Protocol Standard: MoldUDP64 Initial Release Date: |
||||
| Site | Channel/Purpose | Group | Port | Source IP Address |
| New York Metro Area "A" – U.S. | NLS Plus – Channel 1 (Nasdaq Issues) | 233.54.12.20 | 18030 | 206.200.112.224/28 |
| Rerequest – Channel 1 | 18130 | 206.200.112.20 | ||
| NLS Plus – Channel 2 (NYSE and Amex Issues) | 18031 | 206.200.112.224/28 | ||
| Rerequest – Channel 2 | 18131 | 206.200.112.21 | ||
| New York Metro Area "B" – U.S. | NLS Plus – Channel 1 (Nasdaq Issues) | 233.49.196.20 | 18030 | 206.200.112.240/28 |
| Rerequest – Channel 1 | 18130 | 206.200.112.45 | ||
| NLS Plus – Channel 2 (NYSE and Amex Issues) | 18031 | 206.200.112.240/28 | ||
| Rerequest – Channel 2 | 18131 | 206.200.112.46 | ||
| Chicago Metro Area "A" – U.S. | NLS Plus – Channel 1 (Nasdaq Issues) | 233.187.20.70 | 18030 | 206.200.113.224/28 |
| Rerequest – Channel 1 | 18130 | 206.200.113.20 | ||
| NLS Plus – Channel 2 (NYSE and Amex Issues) | 18031 | 206.200.113.224/28 | ||
| Rerequest – Channel 2 | 18131 | 206.200.113.21 | ||
| Chicago Metro Area "B" – U.S. | NLS Plus – Channel 1 (Nasdaq Issues) | 233.211.120.70 | 18030 | 206.200.113.240/28 |
| Rerequest – Channel 1 | 18130 | 206.200.113.45 | ||
| NLS Plus – Channel 2 (NYSE and Amex Issues) | 18031 | 206.200.113.240/28 | ||
| Rerequest – Channel 2 | 18131 | 206.200.113.46 | ||
| London Metro "A" – U.K. | NLS Plus – Channel 1 (Nasdaq Issues) | 233.127.56.20 | 18030 | 206.200.10.228/28 |
| Rerequest – Channel 1 | 18130 | 206.200.10.35 | ||
| NLS Plus – Channel 2 (NYSE and Amex Issues) | 18031 | 206.200.10.224/28 | ||
| Rerequest – Channel 2 | 18131 | 206.200.10.36 | ||
| London Metro "B" – U.K. | NLS Plus – Channel 1 (Nasdaq Issues) | 233.127.56.90 | 18030 | 206.200.10.240/28 |
| Rerequest – Channel 1 | 18130 | 206.200.10.39 | ||
| NLS Plus – Channel 2 (NYSE and Amex Issues) | 18131 | 206.200.10.40 | ||
| Rerequest – Channel 2 | 18108 | 206.200.10.40 | ||
| Hong Kong Metro "A" – U.K. | NLS Plus – Channel 1 (Nasdaq Issues) | 233.127.56.20 | 18030 | 206.200.10.228/28 |
| Rerequest – Channel 1 | 18130 | 206.200.10.35 | ||
| NLS Plus – Channel 2 (NYSE and Amex Issues) | 18031 | 206.200.10.224/28 | ||
| Rerequest – Channel 2 | 18131 | 206.200.10.36 | ||
| Hong Kong Metro "B" – U.K. | NLS Plus – Channel 1 (Nasdaq Issues) | 233.127.56.90 | 18030 | 206.200.10.240/28 |
| Rerequest – Channel 1 | 18130 | 206.200.10.39 | ||
| NLS Plus – Channel 2 (NYSE and Amex Issues) | 18131 | 206.200.10.40 | ||
| Rerequest – Channel 2 | 18108 | 206.200.10.40 | ||
Will firms need to request connectivity access to the new IP Address information?
Yes, in order to access the new IP addresses, existing distributors will need to complete the Data Feed Request Form to receive the data.
New distributors need to complete the following agreements to receive the data:
- Data Feed Request Form Required for all firms.
- Nasdaq Global Data Agreement Required for all firms prior to initiation of the first Nasdaq data service only.
- System Application Required for firms only if the data will be displayed or used in a system that is not yet approved by Nasdaq.
For the complete list of Nasdaq agreements and forms, please refer to the Nasdaq Global Data Products Administration page on the Nasdaq Trader website.
If you need assistance with the application process, please contact your Nasdaq Sales Representative.
Will there be opportunities to test the new versions?
Yes. The new multicast groups and associated IP’s will begin producing Nasdaq Last Sale, NLS Plus, and TRF FilterView trade reports from the new software beginning Monday, August 20, 2018.
While customers should not expect to receive any FINRA/Nasdaq TRF Chicago data until September 10, this test period is to ensure that the change to the previously monotonic distribution of content does not disrupt any applications or services on the customer end prior to the full launch of FINRA/Nasdaq TRF Chicago on September 24, 2018.
Beginning September 10, 2018 through September 21, 2018 test data for the below list of symbols will be generated and published over the new IP addresses.
What are the Test Symbols?
From September 10 - 21, 2018, FINRA/Nasdaq TRF Chicago will be available for firms to submit transactions in production for test securities only. Non-test securities will be rejected. Starting on September 24th, all NMS stocks will be available for reporting on FINRA/Nasdaq TRF Chicago.
The list of available test symbols are as follows:
| Symbol | Symbol Name |
|---|---|
| CBO | CBO (Listing Market - NYSE - Networks A/E) Common Stock |
| CBX | CBX (Listing Market NYSE Networks AE) Common Stock |
| IBO | IBO (Listing Market - NYSE Amex Network B F) Common Stock |
| IGZ | IGZ (Listing Market NYSE Arca Network B F) Common Stock |
| NTEST | NYSE Tick Pilot Test Sym-Control |
| ZBZX | BATS BZX Exchange test issue |
| ZEXIT | IEX Test Company Test Symbol Two for IEX |
| ZIEXT | IEX Test Company Test Symbol One for IEX |
| ZTEST | BATS BZX Exchange Common Stock (test issue) |
| ZVV | NYSE ARCA test stock |
| ZXIET | IEX Test Company Test Symbol Three for IEX |
| ZAZZT | Tick Pilot Test Stock Class A Common Stock |
| ZBZZT | Test Pilot Test Stock Class B Common Stock |
| ZCZZT | Tick Pilot Test Stock Class C |
| ZVZZC | NASDAQ TEST STOCK Nextshares Test Security |
| ZVZZT | NASDAQ TEST STOCK |
| ZWZZT | NASDAQ TEST STOCK |
| ZXZZT | NASDAQ TEST STOCK |
When will the existing legacy versions of the impacted feeds be removed?
Nasdaq Last Sale 2.1, Nasdaq Last Sale Plus 2.1, and Nasdaq TRF Trades FilterView 2.1 will run in parallel and continue to distribute existing content until December 31, 2018.
Where can I find additional information?
For questions about Nasdaq data products, please contact Nasdaq Global Information Services at +1 301 978 5307.
FINRATM, Trade Reporting FacilityTM and TRFTM are trademarks of Financial Industry Regulatory Authority, Inc. and are used under license from Financial Industry Regulatory Authority, Inc.. Nasdaq® and PHLX® are registered trademarks of Nasdaq, Inc. ACTTM is a trademark of Nasdaq, Inc. ©Copyright 2017. All rights reserved.
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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.
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