As previously communicated in IT Notice 60/14, NASDAQ OMX Nordic has based on Member feedback, decided to change the handling of orders rejected by Introducing Broker. Currently all reject messages are relayed back to the Member. Going forward for the DCAN, SCAN, DNGY, DCAP and STGY strategies, any reject from Introducing Broker on an IOC Order sent to an Away market will be treated as if the order simply did not fill, and no reject message will be relayed back to the Member. The order will continue being processed according to the given strategy.
NASDAQ OMX Nordic also wishes to clarify that the Introducing Broker may reject orders with a limit price set at 75% passive and 25% aggressive limit away from the latest reference price (last/open/close). In addition the Introducing Broker may reject orders that risk to trigger volatility checks applied on the relevant Away market.
NASDAQ OMX Nordic Market Model
The next version 2.27 of INET Nordic Market Model, valid as of June 2, 2014, will contain the updates described in this notice. The INET Nordic Market Model will be published before June 2, 2014 under NASDAQ OMX Nordic Rules and Regulations section at NASDAQ OMX website.
If you have any questions regarding this Exchange Notice, please contact NASDAQ OMX Tech Support at: +46 8 405 6410, email@example.com
NASDAQ OMX Nordic
NASDAQ OMX Nordic is not a legal entity but describes the common offering from the NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, and Iceland.
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