Search:
   

Wednesday, January 8, 2014

Equity Trader Alert #2014 - 2
NASDAQ OMX Announces a Change to FIX Protocol

Markets Impacted:

Contact Information:

What you need to know:

  • Starting March 3, 2014, NASDAQ, BX and PSX will validate the sending time field on all orders. Sending time must correspond to the current date for an order to be accepted. All other orders will be rejected.

What is changing?

Starting March 3, 2014, The NASDAQ Stock Market® (NASDAQ®), NASDAQ OMX BXSM (BXSM) and NASDAQ OMX PSXSM (PSXSM) system will validate the sending time field (tag 52 and tag 122). The sending time MUST correspond to the current date. The system will reject any order messages received with a sending time other than the current date. The system had previously interpreted all orders as being entered on the day received.

See example below:

Time Entered on Order (UTC) Time Received by Exchange ET Result
52=20140303-23:59:59.000 06:59:59 PM 03-Mar-2014 Order Accepted
52=20140304-00:01:00.000 07:01:00 PM 03-Mar-2014 Order Accepted
52=20140302-00:01:00.000 06:01:00 PM 03-Mar-2014 Order Rejected
52=20140305-00:01:00.000 06:01:00 PM 03-Mar-2014 Order Rejected

Why are these changes being implemented?

NASDAQ OMX® is making an ongoing effort to improve order protocols for the benefit and protection of customers by putting in place changes that will help prevent erroneous orders from being acted upon.

Where can I find additional information?

Contact NASDAQ OMX Trading Services at +1 212 231 5180.


Email Alert Subscriptions:
Nasdaq offers customers the ability to self select news delivery across various Nasdaq markets. Create and maintain a profile for updating alert preferences and contact information. Visit the enrollment form on the Nasdaq Trader website and sign up today! Please note that if you choose to unsubscribe from an email list, you may no longer receive potentially critical emails from the NASDAQ Stock Market regarding Nasdaq's trading and data products, regulatory issues or marketplace initiatives. To unsubscribe, also click on the enrollment form

Please follow Nasdaq on Facebook RSS and Twitter.

Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.

View NASDAQTrader.com Mobile