IT – INET – REMINDER - Introducing a Replace Order Message for OUCH (59/12)
As previously communicated in the Exchange Notice IT 22/12, and Exchange Notice 50/12, NASDAQ OMX Nordic will introduce the Replace Order Message in OUCH allowing member firms to alter an order in a single measure; current practice requires a firm to delete the existing order and enter a revised order.
The Replace Order Message is an extension of current OUCH functionality and is not a mandatory change.
Time schedule
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INET Test - August 20, 2012
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INET Prod - October 22, 2012
Description of the functionality for Replace Order Message
The Replace Order Message is added to the standard ASCII OUCH protocol. With the Replace Order Message, updating an order is significantly quicker as it is done in one single transaction.
You can change all the order attributes except “Buy/Sell Indicator”. When sending a Replace Order, you need to provide the Order Token of the order you want to replace and give a new Order Token for the modified order.
Protocol changes
OUCH Order Entry
OUCH Order Entry 1.14R.3 is available on NASDAQ OMX’s member pages. The version is labeled 1.14R.3 but will be renamed when formally released (which will be no later than August 31, and no further changes are however expected).
The following changes are introduced:
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A new (inbound to NASDAQ OMX) Order Replace message is introduced
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A new (outbound from NASDAQ OMX) Replaced Order message is introduced
No changes on ITCH
ITCH ports are not affected since we are not implementing the ITCH replace message, rather, ITCH is doing the “legacy cancel + new”. This means that ITCH consumers are unaffected by this change.
Changes to the OUCH Drop
The version published is labeled 1.9R.1 but will be renamed when formally released (which will be no later than August 31, and no further changes are expected).
The OUCH Drop has always included the ability to relay replace messages. There is however one change to the specification:
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The “Replaced Token” field length is extended in order to cover the full token length.
Support
For questions and assistance regarding this Exchange Notice, as well as any technical queries, please contact NASDAQ OMX Tech Support at: +46 8 405 64 10, operator@nasdaqomx.com
Best regards,
NASDAQ OMX Nordic
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