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Wednesday, October 26, 2022

Equity Trader Alert #2022 - 96
Reminder: Nasdaq Introduces OUCH 5.0 ports/protocol: Nasdaq

Category:

  • New Functionality

Markets Impacted:

Contact Information:

Resources:

On November 14, 2022 the Nasdaq Stock Exchange will be introducing the new OUCH 5.0 protocol that offers efficiency, additional functionality, and flexibility. Please note that the following managed order functionality will not be available during the initial release and will be introduced in Q2/Q3 2023:

  • Pegging
  • Reserves
  • Discretion
  • Routing

Until these managed order functionalities become available, orders entered through OUCH will behave as they did under the preexisting rules with respect to these same functionalities. Nasdaq will announce via an Equities Trader Alert at least 14 days prior to introducing new managed order functionalities for OUCH 5.0.

Users are now able to order production ports for Nasdaq (test mode) and can coordinate with Nasdaq Trading Services to certify new ports for both NTF and production. Customers who have certified OUCH 5.0 on another exchange are not required to certify for Nasdaq.

Please submit all new port requests or requests to move ports configured in test mode to production no later than Friday, November 11th to ensure proper configuration for go-live on November 14th. Customers should confirm they can connect to the newly provided IP and ports.

Please note that the unique trade identifier field used for CAT reporting will change from Order Token when using legacy OUCH versions to ClOrdId when using OUCH 5.0.

Testing Opportunities

Testing is currently available in the Nasdaq Testing Facility (NTF).

Please refer to the Specifications Page for more information.

Please follow Nasdaq on Facebook RSS and Twitter.

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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