Thursday, April 18, 2019

Data Technical News #2019 - 8
Nasdaq Announces the Nasdaq MRX Spread Feed

Markets Impacted:

Products Impacted:

Contact Information:

What you need to know:

Nasdaq is announcing the launch of the Nasdaq MRX Spread Feed to support the new complex order functionality on Nasdaq MRX beginning June 24, 2019 pending SEC approval.

Firms may begin submitting paperwork to subscribe to the product beginning on Monday, May 6, 2019.


What is the Nadsaq MRX Spread Feed?

The Nasdaq MRX Spread feed is a direct data feed product composed of four components (Top Quote, Depth of Market, Order, and Trade) that provides subscribers with real-time information on multi-legged options activity on the Nasdaq MRX options exchange. The feed provides subscribers with information such as new complex orders resting on the complex order book, complex auction notifications including imbalances and opening auctions, the top five price levels of the complex order book, and complex trade activity.

When will the Nasdaq MRX Spread feed be available?

The Nasdaq MRX Spread feed will go live on Monday, June 24, 2019, which coincides with the first day of the complex order functionality made available on the Nasdaq MRX exchange, as announced in OTA #2019-13.

What are the benefits of the Nasdaq MRX Spread feed?

The Nasdaq MRX Spread feed informs users that complex orders are resting on the complex order book. It also provides market participants with complex order auction notification messages including imbalances on opening auctions. It displays the bids and offers at the top five prices of the complex order book along with opening price, high and low prices for the day, and cumulative volume.

What is the cost of the Nasdaq MRX Spread feed?

As with the other market data feeds offered on Nasdaq MRX, the Nasdaq MRX Spread feed will be free of charge.

Where can I find the technical interface specifications for the Nasdaq MRX Spread feed?

The Nasdaq MRX Spread feed share the same specifications as the Nasdaq ISE Spread feed and can be found on the Market Data Specifications – Data Feeds page on the Nasdaq Trader website. For customer convenience, the specifications for each of the four components (Top Quote, Depth of Market, Order, and Trade) that make up the Spread Feed have been consolidated into one specification document.

What are the connectivity details to the Nasdaq MRX Spread feed?

The connectivity information can be found on the UDP/IP Addresses - U.S. Derivatives Data Feeds page on Nasdaq Trader. Please note the Source IP Addresses are ranges and not specific IP Addresses.

How can firms verify connectivity to the new feed?

Effective, beginning Monday, May 6, 2019, Nasdaq will publish heartbeats over the production channels for firms to verify connectivity.

How can I order the Nasdaq MRX Spread feed product offering?

Firms may begin ordering the product on Monday, May 6, 2019.

To order the product, firms must submit the following forms and agreements to receive the data:

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.

How can I order the Nasdaq MRX Spread feed product offering?

For more information, please contact Nasdaq Global Information Services at +1 301 978 5307.



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