IT – INET – REMINDER - Updates to all INET Nordic FIX Protocols October 16, 2015 (56/15)
As previously communicated in IT-Notice 46/15, 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 from October 16, 2015. 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.
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FIX Tag [1816] – “Clearing Account Type” is introduced across all FIX Protocols and
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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 used for instruction to the CCP until Nov 16, 2015. If no value is provided in ClearingAccountTYpe from Nov 16, 2015 the default value “Client” will be used. Members with GTC orders in the system intended to be booked on the House account at the CCP are encouraged to modify their GTC orders to include ClearingAccountType=House prior to Nov 16, 2015. The current behavior using the OrderCapacity field for CCP account instruction remains until and including Nov 13, 2015.
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 INET Nordic Protocol Specifications.
Time Schedule
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INET Test (OTF) – June 22, 2015
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INET Production – October 16, 2015
Testing and Production Readiness
Members are encouraged to verify that their FIX applications can handle the new timestamp format prior to Oct 16, 2015. Members having issues with the new timestamp format can contact Nasdaq Cash Equity Operations by tomorrow Thursday 12:00 (CET) the latest for a temporary reconfiguration (from October 16 to November 13 at the latest) of their production 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
The FIX changes above is the first part of a number of INET enhancements in Q4, 2105. Members are encouraged to 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
For technical questions and temporary FIX port reconfiguration to ms, 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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