Search:
   

Monday, October 31, 2005

UTP Vendor Alert #2005 - 36
SIP Enhancement Release 8.0 Planned For 1st Quarter 2006

In the 1st Quarter 2006, NASDAQ®, in its role as a security information processor (SIP), will implement the following modifications to the Unlisted Trading Privileges (UTP) data feeds:

  • Add two new allowable Market Center Originator ID’s to the UTP Quotation Data FeedSM (UQDFSM), UTP Trade Data FeedSM (UTDFSM) and the OTC Montage Data FeedSM (OMDFSM): and
  • Redefine existing Quote Condition Codes for UQDF and OMDF.

Background

At the request of the UTP Operating Committee, NASDAQ has implemented a regular release schedule for the UTP data feeds. For each release, there is a formal process where the UTP Operating Committee decides which enhancements are to be included. Both UTP participants and market data distributors may submit UTP data feed enhancement requests for possible consideration.

The UTP Operating Committee has approved the following changes to the UQDF, UTDF, and OMDF products for the next release, SIP Enhancement release 8.0 (SIP 8.0).

Addition of New Market Center Originator ID's:

The UTP Committee has received and approved a request from the International Securities Exchange (ISE) to join as a new participant in the UTP Plan - Market Center ID “I”. The UTP committee has also received and approved a joint request from the NASDAQ Stock Market and the NASD to establish a new Market Center ID - “L” for trades reported to the tape through The Trade Reporting Facility LLC.

Currently the introduction of SIP 8.0 release does not have a set time for production. NASDAQ will inform data recipients of actual dates once they are made available by the affected market centers.

Redefine Three Existing Quote Condition Values:

In conjunction with the SEC approved Regulation National Market System (Reg NMS) rules, the UTP Operating Committee has approved the redefinition of three existing quote condition codes in order to identify a manual quote update submitted by a UTP market participant (UTP Participant BBO).

Quote Condition Code Current Definition New Definition
A Depth on Ask Manual Ask, Automatic Bid
B Depth on Bid Manual Bid, Automatic Ask
H Depth on Bid and Ask Manual Bid and Ask

Please click on the View/Print button below to access the updated specification documents. Please note that these documents contain an appendix providing detailed version control information.

UQDF Interface Specifications (Version 8.0)
UTDF Interface Specifications (Version 8.0)
OMDF Interface Specifications (Version 8.0)

Testing and Implementation

In advance of the SIP 8.0 release, NASDAQ plans to offer at least one month of evening format testing and two Saturday user acceptance tests (UATs). NASDAQ will post a UTP Vendor Alert with the testing dates once the schedule has been confirmed.

Conclusion

Questions about the UTP data feeds or quarterly release process may be directed to NASDAQ Market Data Distribution at 301.978.5307 or MKTDATASVC@nasdaq.com.