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Monday, October 7, 2013

UTP Vendor Alert #2013 - 11
UTP SIP to Postpone New Sale Condition Modifiers and Financial Status Indicator until December 9, 2013

Markets Impacted:

  • UTP/SIP

Products Impacted:

  • UTP Quotation Data Feed (UQDF)
  • UTP Trade Data Feed (UTDF)
  • OTC Montage Data Feed (OMDF)

Contact Information:

What you need to know:

  • As announced in UTP Vendor Alert #2013-6, the UTP operating committee (UTPOC) plan members approved the following changes for the UTP Data feeds:
  • Creation of a new Odd Lot modifier ("I" - Odd Lot Trade)
  • Creation of a new Corrected Consolidated Last price modifier ("9" – Corrected Consolidated Last price (per listing market))
  • Creation of a new Financial Status Indicator "C" (Creations and/or Redemptions Suspended for Exchange Traded Product)
  • Pending final regulatory review and approval of the required plan amendments the release will be postponed until Monday, December 9, 2013. The new values will not be available on October 21, 2013 as previously announced.
  • In addition, the previously scheduled October testing dates have been cancelled. Please see below for the revised testing schedule.

Why is the release being postponed?

Pending final regulatory review and approval of the plan amendments required for including Odd Lot trade reports to the consolidated tapes, the UTP October 21, 2013 release will be postponed until Monday, December 9, 2013.

What is included in the release?

As announced in UTP Vendor Alert #2013-6, in cooperation with the UTP Operating Committee (UTPOC) and Consolidated Tape Authority (CTA), the UTP Securities Information Processor (UTP SIP) plans to introduce two new sale condition values and a new financial status indicator on its outbound trade messages via the UTP Trade Data FeedSM (UTDFSM).

Odd Lot Trade ("I"): The Odd Lot Trade modifier will be available to any participant to distinguish a trade resulting from a market center's execution in increments less than the defined round lot size. Odd Lot Trade transactions will be included in volume statistical calculations only. The Odd Trade value "I" will appear in Level 4 of the extended sale condition modifier field on the UTDF and CTS data feeds.

Corrected Consolidated Last - per the Listing Market ("9"): This new modifier will be allowed to be used only by the Listing Market and may be used to adjust the consolidated last sale price. The Corrected Consolidated Last will be eligible to set the High, Low and Last for the consolidated statistics and will not update the participant records. Volume will always be reported as zero and will appear in Level 2 of the extended sale condition modifier field on the UTDF and CTS data feeds.

New Financial Status Indicators: The UTP SIP plans to introduce a new Financial Status indicator on all UTP data feeds on October 21, 2013. The Financial Status indicator is used to denote the current Financial Status of a security. UTP will be modified to add a new Financial Status indicator in the existing Financial Status field. The new Financial Status indicator 'C' will be used to denote 'Creations and/or Redemptions Suspended for Exchange Traded Product' to indicate that the Exchange Traded Product does not offer the ability to create and/or redeem shares on the listing market.

What is the revised testing schedule for the release?

The UTP SIP will offer the following evening and weekend testing opportunities for the UTDF trade messages release:

Type of Testing Scheduled Dates Description
Evening Test Transmissions Now through Friday, December 6, 2013 A test file will be recorded to be replayed in the evenings from 9:00 p.m. to 10:30 p.m., ET, to all UTP data feed subscribers. No registration is required to participate in evening testing.
Saturday User Acceptance Test (UAT) Saturday, November 23, 2013; and
Saturday, December 7, 2013 (Confidence Test)		 UTP participants will be invited to enter data to test the new functionality. As it is generated, the UTP SIP will disseminate the test data via the UTP data feeds. Advance registration is requested for the UATs.

Where can I find additional information?

The updated UTP trade modifiers and financial status indicators are located in the UTP technical specification documents available on the UTP Technical Specifications page on the NASDAQ OMX Trader® website. For your convenience the individual specifications are provided below:

Who should I contact for more information?

For more information on the UTP data feeds, please contact NASDAQ OMX Global Data Products at +1 301 978 5307.


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