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Thursday, April 27, 2023

Equity Trader Alert #2023 - 17
Upcoming Enhancements to Reserve order functionality on Nasdaq

Category:

  • New Functionality

Markets Impacted:

Contact Information:

Resources:

On May 1, 2023, The Nasdaq Stock Market (Nasdaq) will begin introducing performance improvements to the Reserve order functionality it currently supports via INET FIX and RASH port order entry protocols.

The enhanced Reserve order functionality will be rolled out over the course of several weeks. During the period of time while Nasdaq is implementing this feature, customers may notice some differences in order handling behavior, where two orders sent by the same customer (with the same order feature) may be handled differently by the system. This is expected until the feature has been fully rolled out on the exchange.

There will be no changes to Reserve orders entered through the RASHport or INET FIX protocols.

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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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