When will PSX launch?

PSX, a new U.S. equity trading platform with a price-size priority model, has received SEC approval. PSX will launch on Friday, October 8, 2010.

What do I need to do to trade on PSX?

If your firm is currently a PHLX member, you must submit the PSX Participation Form to the NASDAQ OMX Membership Department to confirm PHLX membership status and MPID.

If you are not yet a PHLX member, you must complete the PHLX membership application process.

What do I need to do to get connected?

If you currently connect to the NASDAQ OMX data centers, you may use your existing circuits to connect to PSX, bandwidth permitting. You may also use the same extranet and direct circuit connections to access PSX that you currently use to access other NASDAQ OMX markets.

You must order new PSX ports in order to trade on PSX. To order ports, please complete and submit a PSX Port Request Form. PSX ports will be free for the first six months of operation.

How do I complete certification testing?

Prior to trading on PSX, all firms are required to perform a basic certification test in order to verify proper functionality. Order entry and execution testing can be performed anytime during regular trading days.

What is transaction pricing on PSX?

Upon launch, PSX will offer an attractive low take rate while still providing a rebate to liquidity providers. For shares that execute above $1.00, transaction pricing will be:

• $0.0013 fee to remove liquidity
• $0.0020 rebate for adding liquidity

What NASDAQ OMX proprietary data feeds will be offered for the new market?

• PSX TotalView-ITCH 4.1 (Binary)
• PSX TotalView-ITCH 3.2 (ASCII)
• PSX GLIMPSE 4.1 (Binary)
• PSX GLIMPSE 3.2 (ASCII)
• PSX Last Sale (PLS)
• PSX Basic (PSX Best Bid and Offer (PSX BBO) and PLS)
• PSX OUCH Pricing Feed

For ease of implementation, the PSX market data feeds will use the same symbology-compliant data formats as The NASDAQ Stock Market^® (NASDAQ^®) and NASDAQ OMX BX^SM (BX^SM).

NASDAQ OMX also plans to support a PSX Historical TotalView-ITCH product offering as part of its web-based services. For more information, refer to Data News #2010-6.

Will PSX trading data be available on NASDAQ OMX TradeInfo?

Yes, PSX will be available on NASDAQ OMX TradeInfo for $95 per month. NASDAQ OMX TradeInfo is an easily accessible web-based tool that allows users access to all of the order and execution information for their entire firm, for both equities and options, through one interface. It offers users the ability to status orders, cancel open orders and generate various reports. Firms can also mitigate risk during a technical challenge by using TradeInfo to view and cancel orders.

To subscribe to NASDAQ OMX TradeInfo, submit the NASDAQ Front End Request Form. For more information, contact NASDAQ OMX Subscriber Services at +1 212 231 5180.

Where can I find additional information?

• Refer to the PSX Trade Simulator and the NASDAQ OMX PSX page on the NASDAQ OMX Trader^® website.
• Refer to the PSX FAQs: Trading and Connectivity and Participation.
• Refer to Data News #2010-6.
• Contact NASDAQ OMX Subscriber Services at +1 212 231 5180.
• Contact Transaction Services U.S. Market Sales at +1 800 846 0477.