IT – INET – NASDAQ OMX Execution Algorithms updates – New version in OTF from Tuesday November 12 - (89/13)
As previously communicated in IT-notice 56/13 and 87/13 NASDAQ OMX will implement a set of Execution Algorithms available via the INET Nordic FIX protocol and Nordic Workstation. The service is available in OTF since November 4, 2013.
Based on customer feedback and to improve the execution algo service, NASDAQ OMX has decided to make a couple of algo parameter changes in the FIX implementation in OTF and in Nordic Workstation as of tomorrow Tuesday November 12, 2013.
An updated version of the FIX Order Entry specification is available under the “Future protocol versions” section at http://nordic.nasdaqomxtrader.com/memberextranet/inetnordic/Connectivity_and_Protocols/
Please read the revision history section of the FIX specification for more details.
Summary of the changes:
· Two new order parameters - OnOpenType , FIX tag [20010] and OnCloseType [20011] added which will allow for a quantity of <=100 in OnOpenQty [20008] and OnCloseQty [20009] to either be percentage or number of units/shares depending on the type value.
· Modified IWouldQty [20005] to allow for a quantity <=100 (number of units/shares or percentage depending on the IWouldType value)
· Removed order parameters InMoneyAggression [20017] and OutMoneyAggression [20019]. Modified InMoneyStyle [20016] and OutMoneyStyle [20018] to include the aggressions levels from the removed messages.
The algorithms will be offered as a separate technical service and requires an agreement with NASDAQ OMX Exchange and Clearing Services AB. The execution algorithm engine utilizes the NASDAQ OMX Smart Order Routing service to send orders to away markets and therefore a Smart Order Routing service agreement with NASDAQ OMX Nordic exchanges¹ is required as well.
Application forms for Execution Algorithms and Smart Order Routing together with more detailed information about Nordic Execution Services are available at: http://www.nasdaqomx.com/transactions/trading/equities/nordicexecutionservices
¹ Smart Order Routing Service requires that the member has membership at the NASDAQ OMX Nordic Exchange from which orders may be routed.
“NASDAQ OMX Nordic Exchanges” shall mean NASDAQ OMX Stockholm AB, NASDAQ OMX Helsinki Oy and NASDAQ OMX Copenhagen A/S, or the relevant NASDAQ OMX Nordic exchange, as applicable
Test accessPlease contact Member Services ms.inet@nasdaqomx.com in order to enable the Execution Algo service in OTF and on your Nordic Workstation accounts.
Protocol changesThe latest FIX Order Entry and FIX Order Entry Drop copy protocol specifications are available under the “Future protocol versions” section at the NASDAQ OMX member extranet: http://nordic.nasdaqomxtrader.com/memberextranet/inetnordic/Connectivity_and_Protocols/
Nordic WorkstationAn updated version of Nordic Workstation supporting the Execution Algorithm changes described above is available in OTF from November 12, 2013. To enable Execution Algorithms, please contact ms.inet@nasdaqomx.com
Time schedule· INET Test (OTF) – November 4, 2013 (Updated Nov 12)
· INET Prod – December 9, 2013
SupportFor questions and assistance regarding FIX and Nordic Workstation configuration, please contact NASDAQ OMX Member Services at: +46 8 405 6560, ms.inet@nasdaqomx.com
For technical questions, please contact NASDAQ OMX Tech Support at: +46 8 405 6410, operator@nasdaqomx.com
For trading related questions and assistance, please contact NASDAQ OMX Trading Operations at: +46 8 405 6570, tradingoperations@nasdaqomx.com
Questions and feedbackFor further information and feedback concerning this information, please contact Ronny Thellman, +46 8 405 6313, ronny.thellman@nasdaqomx.com
Best regards,
NASDAQ OMX Nordic |
“NASDAQ OMX Nordic” is not a legal entity but describes the common offering for the members of NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, and Reykjavik.
|