As previously communicated in IT Notice 73/12 NASDAQ OMX Nordic will introduce a new order type, the Top Of Book (TOP), allowing member firms to send in limit orders that are accepted by the trading system and added to the order book if its limit price is narrowing but not crossing the current order book spread, i.e. if the limit of a buy TOP is greater than the best visible bid in the order book and smaller than the best visible ask.
Incoming TOP may however be fully or partially executed against sitting non-displayed orders.
TOP will only be offered on OUCH.
Updated OUCH specs are available on NASDAQ OMX’s member pages since October 8.
NASDAQ OMX Nordic Member rules will be updated with the new order-type effective November 19.
The next version of the Market Model will be published October 29 as well as the standard application form for the new order-type.
Member and ISVs interested in testing the new functionality are asked to contact Member Services, tel +46 8 405 66 60, email@example.com, in order to get appropriate permissions.
For questions and assistance regarding this Exchange Notice, as well as any technical queries, please contact NASDAQ OMX Tech Support at: +46 8 405 64 10, firstname.lastname@example.org
NASDAQ OMX Nordic