IT – INET – REMINDER - Updates to all INET Nordic FIX Protocols (46/15)
As previously communicated in IT-Notice 31/15 and 24/15 Nasdaq Nordic and Nasdaq Baltic will introduce a larger improvement to the native INET protocols.
A nanosecond timestamp granularity will be introduced across all INET Nordic protocols, the first important step in the preparation for MiFID II.
All INET Nordic FIX protocols will be enhanced by extending to nanosecond granularity timestamps. The FIX protocol specifications have been updated to reflect this change, member applications shall be able to handle timestamps with nanosecond granularity received from INET Nordic. Initially only FIX Tag TransactTime [60] will include nanosecond granularity.
In addition to the timestamp enhancement two new fields will be used with CCP clearing to determine whether a trade is booked to a Client (Default) or House account at the CCP from Nov 16, 2015. The field(s) will replace the role the Order Capacity field currently has in CCP clearing. The Order Capacity field remains.
· FIX Tag [1816] – “Clearing Account Type” is introduced across all FIX Protocols and
· FIX Tag [20104] – “Contra Clearing Account Type” (for two-sided trade reporting) is added to the FIX Trade Reporting protocols.
Note! The new Clearing Account Type fields will be available in production from Oct 16, 2015 but will not be in use until Nov 16, 2015 regardless if they contains values or not. If no value is provided from Nov 16, 2015 the default value “Client” will be used. The current behavior using the OrderCapacity field remains until and including Nov 13, 2015.
Thirdly, the use of FIX Tag [30] – LastMkt will be expanded from Nov 23, 2015. Currently this field only applies to restatement messages for away market orders. See IT-Notice 43/15 for more details about MIC Codes updates and introduction of relaying back the execution venue MIC Code for Fills and Partial Fills. Separate MIC Codes will be used to distinguish Nordic@Mid dark book trades from lit book trades.
Latest information on upcoming changes is available at “INET Nordic Enhancements”.
Protocol specifications
Updated FIX protocol specifications and a delta document “FIX Protocol Changes” are available at Nasdaq Nordic Technical Information web site under Future INET Nordic Protocol Specifications.
Time Schedule
· INET Test (OTF) – June 22, 2015*
· INET Production – October 16, 2015*
* Please see IT-Notice 43/15 or INET Nordic Enhancements for MIC Code time schedule.
Testing
Members having issues with the new timestamp format can contact Nasdaq Cash Equity Operations for a temporary reconfiguration of their FIX ports, a per port configuration, to the old timestamp format until the application can handle the extended timestamp length.
Tel: +46 8 405 6410
E-mail: operator@nasdaq.com
Member Readiness
Members should update Nasdaq Cash Equity Operations on their migration readiness status by sending in the Member Readiness Status Report Form available under INET Nordic Enhancements.
Support and Certification
For technical questions, please contact Nasdaq Cash Equity Operations:
Tel: +46 8 405 6410
E-mail: operator@nasdaq.com
Questions and feedback
For further information and feedback concerning this information, please contact Ronny Thellman, +46 8 405 6313, ronny.thellman@nasdaq.com.
Best regards,
Nasdaq Nordic and Nasdaq Baltic
Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn and Nasdaq Vilnius are respectively brand names for NASDAQ OMX Copenhagen A/S, NASDAQ OMX Helsinki Ltd, NASDAQ OMX Iceland hf., NASDAQ OMX Riga AS, NASDAQ OMX Stockholm AB, NASDAQ OMX Tallinn AS and AB NASDAQ OMX Vilnius. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Baltic represents the common offering by Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius.
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