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Wednesday, February 10, 2010

UTP Vendor Alert #2010 - 1
Re-activation of NASDAQ OMX PHLX as NASDAQ OMX PSX in UTP

Markets Impacted:

  • UTP/SIP

Products Impacted:

  • UTP Quotation Data Feed (UQDF)
  • UTP Trade Data Feed (UTDF)
  • OTC Montage Data Feed (OMDF)

Contact Information:

What you need to know:

  • The Unlisted Trading Privileges (UTP) Operating Committee has received a request from NASDAQ OMX PHLX, Inc. formerly the Philadelphia Stock Exchange, to re-activate quotation and trading of NASDAQ-listed securities, under their new equities market to be called NASDAQ OMX PSX (PSX).
  • The NASDAQ SIP will identify PSX under the UTP Participant code as follows:
    • NASDAQ OMX PSX (formerly NASDAQ OMX PHLX): (“X”)
  • PSX plans to commence quoting and trading of NASDAQ -listed securities under the UTP plan in May 2010, pending approval of the PSX Rules by the Securities and Exchange Commission (SEC).

What changes have been requested by NASDAQ OMX PHLX, Inc.?

NASDAQ OMX PHLX, Inc., formerly the Philadelphia Stock Exchange, has notified the Unlisted Trading Privileges (UTP) Operating Committee its plans to re-activate quotation and trading of NASDAQ-listed securities under their new equities market to be called NASDAQ OMX PSX (PSX).

PSX plans to commence quoting and trading of NASDAQ-listed securities under the UTP plan in May 2010, pending approval of the PSX Rules by the Securities and Exchange Commission (SEC).

How will this affect the UTP data feeds?

PSX quotation and trade data will be disseminated via the following UTP data feeds:

  • UTP Quotation Data FeedSM (UQDFSM): Beginning May 2010, pending SEC approval, UQDF subscribers will receive PSX quotes via the UTP Participant Quotation message format for ALL NASDAQ -listed securities. PSX quotes will be identified by the market center originator identifier value of "X" in the UQDF message header. In addition, firms will also see the "X" market center value in the National Best Bid and Offer (NBBO) Appendage and Closing Quote Recap message formats.
  • UTP Trade Data FeedSM (UTDFSM): PSX trade transactions will be disseminated with the “X” market center originator identifier via UTDF.
  • OTC Montage Data FeedSM (OMDFSM): PSX market center originator ID "X" will only appear in administrative or control messages via OMDF.

    • Will there be testing opportunities for UTP data feed recipients?

    PSX has requested support of evening format testing with their UTP participant code beginning Monday, March 1, 2010. As is the standard practice, the NASDAQ SIP will broadcast the evening format test data from 9:00 p.m. to 10:30 p.m., Eastern Time (ET) on the UQDF and UTDF production channels.

    Where can I find additional information?