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Wednesday, November 7, 2012

Equity Trader Alert #2012 - 49
Limit Up/Limit Down and Market Wide Circuit Breaker Industry Test Dates Announcement

Markets Impacted:

Contact Information:

What you need to know:

  • NASDAQ OMX will offer industry wide testing to support both the Limit Up/Limit Down and the revised Market Wide Circuit Breakers on select Saturdays beginning in January 2013.
  • Both the Limit Up/Limit Down and the revised Market Wide Circuit Breakers are scheduled to go into effect on February 4, 2013.

What are the available test dates?

The NASDAQ Stock Market® (NASDAQ®), NASDAQ OMX BXSM (BXSM) and NASDAQ OMX PSXSM (PSXSM) will offer industry wide testing on the following Saturdays in the following formats:

  • Saturday, January 12, 2013 - Industry Wide LULD and MWCB Test - Scripted / Limited symbols
  • Saturday, January 19, 2013 - Industry Wide LULD and MWCB Test - Scripted / Limited symbols
  • Saturday, January 26, 2013 - Industry Wide LULD and MWCB Test - Scripted / Limited symbols
  • Saturday, February 2, 2013 - Final Industry Wide LULD - Partially Scripted / Limited symbols

The NASDAQ Options MarketSM (NOM), NASDAQ OMX PHLXSM (PHLX®) and NASDAQ OMX BX OptionsSM (BX Options) will also be participating in all of the Saturday industry test dates mentioned except for Saturday, January 19, 2013.

Further details surrounding testing will be published as needed in the coming weeks.

What will be available and when?

NASDAQ OMX production systems will be available for pre-market trading in all securities at 9:00 a.m., Eastern Time (ET), followed by a market open at 9:30 a.m., ET.

A market close event will be scheduled for 12:00 p.m., ET.

What is the purpose of these tests?

NASDAQ OMX is conducting these Saturday tests as part of an industry wide effort to ensure that our Members are properly prepared for the market wide system changes coming for Limit Up/Limit Down and the revised Market Wide Circuit Breakers that go into effect February 4, 2013.

Do customers need to register for the test?

Yes, firms should email NASDAQ OMX Trading Services to register for the test.

Who should customers contact if they have questions during testing?

Customers should contact the NASDAQ OMX Trade Desk at +1 212 231 5100.

Where can I find more information?


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