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Tuesday, February 19, 2019

Equity Trader Alert #2019 - 14
FIX Service Upgrade for FINRA/Nasdaq TRF Carteret

Category:

  • Industry Announcement
  • Testing

Markets Impacted:

Contact Information:

Nasdaq is upgrading its FIX port service for the FINRA/Nasdaq Trade Reporting Facility® Carteret (“FINRA / Nasdaq TRF Carteret”) starting May 13, 2019 to optimize FIX message processing. Customers will have the option to subscribe to the new FIX 4.2 port service for FINRA/Nasdaq TRF or may continue to use their current FIX port services for FINRA/Nasdaq TRF Carteret without impact to their current trade reporting service. Starting May 13, 2019, new FIX port requests will receive the FIX upgrade. The FIX port (non-trading) cost is $500 per port per month. No change to the existing Nasdaq FIX for Trade Reporting protocol1 is required for FIX ports.

Upgraded FIX Port Benefits

The upgraded FIX port improves resiliency, throughput and standardizes FINRA/Nasdaq TRF product offerings for FINRA/Nasdaq Carteret and FINRA/Nasdaq TRF Chicago2.

  • Resiliency: The FIX port provides real time disaster recovery for FINRA/Nasdaq TRF Carteret in case of a port, system or location outage.

  • Throughput: The FIX port improves performance and standardizes throughput between FINRA/Nasdaq TRF Carteret and FINRA/Nasdaq TRF Chicago.

Differentiation between Upgraded and Legacy FIX

There are certain behavioral differences between the FIX ports.

  • Acknowledgement Messages: All Trade Report messages will receive an acknowledgement message. Customers using the new FIX ports may see additional optional tags returned than previously seen through Legacy FIX.

  • Port Connections and Failover: Upgraded FIX ports will operate in hot-hot mode. Nasdaq will provide customers with primary and secondary IP addresses for upgraded FIX ports. Customers are responsible for monitoring their connections, detecting when there is a connection failure, and failing over to the secondary connection to re-establish connectivity.

  • Reject Handling: Due to the differences in validation when using the new FIX ports, firms may receive rejects on transactions which may not have resulted in rejects using existing ports.

  • Hours of Operation3: Connectivity for upgraded FIX is available 6am – 8pm EST.

How to Get Started

To request a new FIX production, test, or disaster recovery port, please complete the port request form and return to Nasdaq Subscriber Services. New FIX production ports require new FIX test ports for functional testing and new disaster recover ports for failover compatibility. Customers will receive an email with connectivity information for new FIX ports once the order is processed.

Customers are recommended to perform FIX connectivity tests for new ports.

  • FIX Testing in the Nasdaq Test Facility: Customers can perform FIX tests in the Nasdaq Test Facility. Customers may test free of charge for a 30 day period in the Nasdaq Test Facility by registering their firm MPID and start date with NTFbilling@nasdaq.com. Please indicate the testing purpose when submitting the fee waiver request.

  • FIX Testing in Production and Disaster Recovery: Public User Acceptance Testing will be available on Saturday April 6, 2019 and May 4, 2019. The Production testing only will be available on April 6, while both Production and Disaster Recovery testing environments will be available on May 4, 2019. Saturday UAT Production testing hours are scheduled from 9:00 am – 12:00 pm EST.
    • Customer may contact Nasdaq Trading Services by email or by phone (212) 231-5180 to set up testing. Please register with Nasdaq Trading Services by March 29th and April 26th, respectively, for the Saturday UATs.

    • Nasdaq Trading Services will be available for questions and support during the Saturday test hours.

    • FINRA/Nasdaq TRF Chicago and FINRA/Nasdaq TRF Carteret production systems will be available for User Acceptance Testing in accordance with the Nasdaq Saturday Testing Policy.

Questions regarding this notice should be directed to:

1 Nasdaq FIX for Trade Reporting
2 In Sept 2018, FINRA and Nasdaq launched a 2nd TRF, FINRA/Nasdaq TRF Chicago. For more information, see ETA2018-41.
3 FINRA/Nasdaq TRF system operation hours are 8am-8pm EST

FINRATM, Trade Reporting FacilityTM and TRFTM are trademarks of Financial Industry Regulatory Authority, Inc.; FINRA/NASDAQ TRFTM is used under license for Financial Industry Regulatory Authority, Inc.


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