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Friday, September 17, 2010

UTP Vendor Alert #2010 - 14
Activation of 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:

  • NASDAQ OMX® plans to launch a third U.S. equity trading platform, NASDAQ OMX PSXSM (PSXSM).
  • As announced in UTP Vendor Alert 2010-1, the Unlisted Trading Privileges (UTP) Operating Committee received a request from NASDAQ OMX PHLX LLC, formerly the Philadelphia Stock Exchange, to activate quotation and trading of NASDAQ-listed securities under the new equities market, PSX.
  • The UTP SIP will identify PSX under the UTP Participant code “X.”
  • The Securities and Exchange Commission (SEC) has approved the PSX Rules and as such, PSX plans to commence quoting and trading of NASDAQ -listed securities under the UTP plan on Friday, October 8, 2010.

What changes have been requested by NASDAQ OMX PHLX LLC?

NASDAQ OMX PHLX LLC, formerly the Philadelphia Stock Exchange, has notified the UTP Operating Committee of its plans to activate quotation and trading of NASDAQ-listed securities under PSX, their new equities market. PSX will commence quoting and trading of NASDAQ -listed securities under the UTP plan on Friday, October 8, 2010.

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 October 8, 2010, 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?

Yes, PSX has indicated that they will participate in a User Acceptance Test (UAT), on Saturday, September 25, 2010.

Type of Testing Scheduled Dates Description
Saturday User Acceptance Test (UAT) Saturday, September 25, 2010 UTP participants will be invited to enter data to test the new functionality. As it is generated, the UTP SIP will disseminate the test data via the UTP data feeds. During this time the UTP SIP will be broadcasting on the production IP multicast groups. Advance registration is requested for the UATs.*

To register for the test, direct data feed subscribers should email their testing contact information to NASDAQ OMX Global Data Products.

Where can I find additional information?