NASDAQ OMX Nordic has decided to enhance the Smart Order Routing services by offering a Default Smart Order Routing Setting. This means that the Member by configuration can apply for a default routing instruction (TAG 76) on FIX port level.
Example: The Member wants all regular FIX Order flow to first try to match in the NASDAQ OMX Nordic Dark pool, Nordic@Mid, before the Orders goes into the Central Lit Order book. By applying for “NMID” as default routing instruction on all FIX ports, the Member will automatically have all FIX Orders following the logics for the “NMID” routing strategy. “NMID” Orders will always first try to execute in Nordic@Mid, with a possible price improvement, before being routed into the Lit Order book.
Time schedule
- INET Test - February 7, 2013
- INET Prod - February 25, 2013
Protocol changes
The default setting is available by configuration, no protocol changes.
Default today is “BOOK” in TAG 76 and this applies to all FIX traffic unless the client specifies something else.
If you are not using our Smart Order Routing service today, this offers a way to utilize our services without making any changes to your setup.
Application form
NASDAQ OMX NORDIC Smart order Routing application form has been updated to support Default Smart Order Routing Setting and is available on the Member Extranet: http://nordic.nasdaqomxtrader.com/memberextranet/inetnordic/order_routing/
Support
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, operator@nasdaqomx.com
Best regards,
NASDAQ OMX Nordic
NASDAQ OMX Nordic is not legal entity but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm and Iceland.
