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Tuesday, February 6, 2024

Equity Trader Alert #2024 - 11
Nasdaq Introduces Order Port Level Purging Functionality

Category:

  • New Functionality

Markets Impacted:

Contact Information:

Resources:

Beginning Q2 2024, The Nasdaq Stock Market (Nasdaq), Nasdaq BX, and Nasdaq PSX will introduce order port level purging functionality on the OUCH 5.0 and INET FIX protocols. The new functionality will allow users to cancel open orders and disable/re-enable order entry on a given port. Three new message types have been added to the specifications for the aforementioned protocols for each feature (mass cancel, disable port, enable port).

This feature will be made available on an exchange-by-exchange basis:

PSX: Mid-April

BX: Early May

Nasdaq: Mid-May

More details on the specific dates will be forthcoming.

Testing Opportunities

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

The Saturday UAT production testing opportunity will be on March 9th.

Please refer to the Specifications Page for more information.

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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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