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IT – INET – OUCH DROP v1.9 End-of-Life notice. REMINDER – Introducing a Replace Order Message for OUCH (71/12)

As previously communicated in the Exchange Notice IT 22/12, Exchange Notice 47/12 and Exchange IT-Notice 59/12 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. In order to support Replace messages on OUCH DROP, a new version of OUCH DROP is introduced October 22^nd.

NOTE! The current version of OUCH DROP will be End-of-Life March 31^st 2013. From April 1^st 2013, OUCH DROP v2.00 or later is mandatory.

 

Time schedule

• INET Test  - August 20, 2012
• 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 2.00 is available on NASDAQ OMX’s member pages.

The following changes are introduced:

• A new (inbound to NASDAQ OMX) Order Replace message is introduced
• 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 current version of OUCH DROP will handle an incoming OUCH Replace message as “Cancel+New”. NOTE! This version will be end-of-life March 31^st 2013.

The new version of OUCH DROP to be introduced October 22 will drop replace messages accordingly. With this version the “Replaced Token” field length is extended in order to cover the full order token length.

OUCH DROP 2.00 is available NASDAQ OMX’s member pages.

Please contact memberservices@nasdaqomx.com, +46 8 405 6660, for re-configuration of your OUCH DROP port(s) to the new version.

NOTE! OUCH DROP 2.00 or later will be mandatory from April 1^st 2013.

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