IT – INET Nordic – Nasdaq Nordic and Nasdaq Baltic goes live with a new trade ticker protocol in preparation for MIFID II (5/17)
Nasdaq Nordic and Nasdaq Baltic have earlier announced a new trade ticker protocol, Nordic Equity Last Sale (NLS). See IT-Notice 49/16 and 51/16.
Nasdaq Nordic and Nasdaq Baltic have decided that the go-live date for the service is February 20, 2017.
NLS is an optional direct data feed product offered by Nasdaq Nordic and Nasdaq Baltic. NLS feed will include new MiFID II required fields, utilizing Market Model Typology (MMT) standard trade flags, for the purpose of post-trade transparency.
NLS will include all on-exchange trades executed in INET Nordic trading system: auto-matched trades executed during all trading phases (including auction trades) as well as manual on-exchange trades (including away market mirror trades).
Trades from current OTC Trade Publication Service or from the future Nasdaq Nordic Approved Publication Arrangement (APA) are currently not included in the NLS feed.
Nasdaq Nordic Equity Last Sale (NLS) Trade Ticker feed protocol updates
The Nordic Equity Last Sale protocol specification has been updated recently:
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Added more trade types to the On-Exchange Trade message TradeType field
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Corrected Adjusted Closing Price field in the Adjusted Closing Price message from 4 to 8 bytes (6 decimals)
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Added Order Book Directory message, two new fields added – Nordic@Mid MIC Code and AOD (Auction On Demand) MIC Code
Protocol specifications
Nasdaq Nordic and Nasdaq Baltic will offer the NLS data feed in two protocol options, SoupBinTCP and MoldUDP64.
The NLS feed will go live before MiFID II, meaning that only MMT tags MMT Level 1 are supported (Market Mechanism) and MMT Level 3.4 (Modification Indicator). All other MMT tags shall be disregarded until MiFID II is in effect.
Latest INET protocol specifications are available at the Nasdaq Nordic Technical Information website, under INET Nordic Protocol Specifications.
Time schedule
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INET Test (NTF) – Available
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INET Production – February 20, 2017
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INET MiFID II Test – Early Q2, 2017 (tbd)
Migration plan
Current ITCH for Reported Trades ports and the new NLS will be available in parallel until MiFID II comes into effect. Current protocol ITCH for Reported Trades will be obsolete when MiFID II goes live.
How to order NLS
To request for NLS ports and the NLS multicast service, please contact Nasdaq Cash Equity Operation or Global Data Products, see below.
Customers with access to Nasdaq Member Portal can request NLS tcp ports via the portal or via INET Nordic Port Request Form.
NLS multicast service is to be ordered via dataproducts@nasdaq.com.
Fees for NLS ports have been published in the Technical price list.
Questions and feedback
For further information and feedback concerning this information, please contact Ronny Thellman, +46 8 405 6313, ronny.thellman@nasdaq.com.
Support
For technical questions, please contact Nasdaq Cash Equity Operations:
Tel: +46 8 405 6410,
E-mail: operator@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 Copenhagen A/S, Nasdaq Helsinki Ltd, Nasdaq Iceland hf., Nasdaq Riga AS, Nasdaq Stockholm AB, Nasdaq Tallinn AS and AB Nasdaq 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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