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Friday, October 23, 2015

Data Technical News #2015 - 24
UPDATE: Nasdaq to Add Two Sale Condition Modifiers on Monday, November 16, 2015

Markets Impacted:

Data Feeds Impacted:

Contact Information:

Resources:

What you need to know:

  • The UTP Securities Information Processor (SIP) recently implemented the following Sale Condition Modifiers:
  • Redefine the existing Stock Option Trade (V) modifier
  • Introduce a new Qualified Contingent Trade (7) modifier
  • Nasdaq® will follow suit by implementing these Sale Condition Modifiers on Nasdaq Last Sale (NLS) and Nasdaq Last Sale Plus (NLS Plus).
  • Qualified Contingent Trade (“QCT”) is a transaction consisting of two or more component orders executed as agent or principal where the execution of one component is contingent upon the execution of all other components at or near the same time and the price is determined by the relationship between the component orders and not the current market price for the security.

UPDATE 11/2/2015: Testing for this change will be offered during the scheduled user acceptance test (UAT) on Saturday, November 7, 2015.

What is being announced?

Nasdaq will implement two new Sale Condition Modifiers for Nasdaq Last Sale and Nasdaq Last Sale Plus on Monday, November 16, 2015.

Sale Condition Modifier Definition Sale Condition Modifier Level
V Contingent Trade 4
7 Qualified Contingent Trade 2

When will Nasdaq offer testing opportunities?

Nasdaq will offer a Saturday user acceptance test (UAT) on:

  • Saturday, November 7, 2015

UATs are scheduled to run from 9:00 a.m. to 12:00 p.m. ET. Firms wishing to participate in the UAT should contact U.S. Market Operations.

Where can I find additional information?

The updated sale condition modifiers are outlined in the updated Nasdaq Last Sale and Nasdaq Last Sale Plus specifications located on the Nasdaq Technical Specifications page.

For information regarding the data feeds, please contact Nasdaq Global Data Products at +1 301 978 5307.

Please visit the SEC Website for the order granting an exemption for Qualified Contingent Trades from Rule 611(a).

Please follow Nasdaq on Facebook RSS and Twitter.

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