Published: 2019-09-25 16:37:24 CEST
Listing and Trading Operations
IT information

IT - INET Nordic – Update: Enhancements to the Nasdaq Nordic Smart Order Routing service (45/19)

 

Update: new launch date for the Smart Order Routing service enhancements. Please find the revised time schedule further down in the notice.

 

Nasdaq Nordic Smart Order Routing (SOR) service is a cost-efficient solution for routing orders to away markets. This way Members can access the fragmented liquidity for Nordic stocks in Europe via one single gateway. The service makes it easier for Members to provide best execution. Nasdaq Nordic will improve the SOR service with the below additional features.

 

Introduction of an additional Away Market destination

Nasdaq Nordic will enhance the SOR service by adding Aquis Exchange as a new away market destination. Aquis Exchange has been available for testing in INET NTF from August 22, 2019. The introduction date in INET production is November 4, 2019.

 

After this addition, the following Away Market destinations are included in the Nasdaq Nordic SOR service:

  1. CBOE Europe
    1. CXE Book
    2. BXE Book
  2. Aquis Exchange
  3. Turquoise
  4. Oslo Börs
  5. Oslo Axess

 

 

Expansion in the Routable instrument scope

In addition to the introduction of a new away market, Nasdaq Nordic has decided to expand the scope of routable instruments. As of November 4, 2019, the Nasdaq Nordic SOR service will include Mid Cap shares traded on Nasdaq Copenhagen and Nasdaq Stockholm. This set up has been available for testing in the INET NTF environment as of September 17, 2019. After the expansion, the scope of routable shares consists of:

  • OBX25, OMXC25, OMXS30, OMXH25 shares
  • Large Cap shares on XCSE, XHEL and XSTO
  • Mid Cap shares on XCSE, XHEL and XSTO
  • Oslo shares traded in the Norwegian Segment (MIC: ONSE) on First North Sweden

 

Protocol changes

No protocol changes associated to these enhancements.

 

Legal and Market Model

Changes will be reflected in the updated version of the INET Nordic Market Model, which will be published on Rules and Regulations for the Nordic Markets.

 

Time Schedule·   
Introduction of an additional Away Market destination:
  • INET Test (NTF), GCF TST4August 22, 2019
  • INET Production – November 4, 2019
Expansion in the Routable instrument scope:
  • INET Test (NTF), GCF TST4September 17, 2019
  • INET Production – November 4, 2019
Support
For technical questions, please contact:
Nasdaq Cash Equity Operations
Tel: +46 8 405 6410

E-mail: operator@nasdaq.com

 

 

 

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.
 

 


IT - INET Nordic - Update Enhancements to the Nasdaq Nordic Smart Order Routing service.pdf