NASDAQ OMX Nordic and Baltic have decided to change the behavior of Minimum Acceptable Quantity (MAQ) order condition in INET trading system.
Currently if MAQ orders are sent as IOC, they will team up against multiple resting orders on book. For non-IOC MAQ orders the teaming up is not allowed and the MAQ works instead as a "Minimum Execution Size".
NASDAQ OMX Nordic will now harmonize the MAQ behavior and go for a strict "Minimum Acceptable Quantity", meaning that the MAQ orders will team up against resting orders regardless if the MAQ order was an IOC or a non-IOC. This change will allow all MAQ orders to team up with multiple passive orders and therefore enhance matching possibilities.
Time schedule
- INET Test (OTF) – September 8, 2014
- INET Prod – September 29, 2014
NASDAQ OMX Nordic Market Model
The version 2.32 of INET Nordic Market Model, valid as of September 29, 2014, will contain the updates described in this notice. The INET Nordic Market Model will be published at the latest on September 29, 2014 under NASDAQ OMX Nordic Rules and Regulations section at NASDAQ OMX website.
Support
If you have any questions regarding this Exchange Notice, please contact NASDAQ OMX Tech Support at: +46 8 405 6410, operator@nasdaqomx.com
Best regards,
NASDAQ OMX Nordic
NASDAQ OMX Baltic
“NASDAQ OMX Nordic” is not a legal entity but describes the common offering from the NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, and Iceland.
“NASDAQ OMX Baltic” respectively refers to the common offering from the NASDAQ OMX
exchanges in Riga, Tallinn and Vilnius.
