As previously communicated in IT Notice 81/14, NASDAQ OMX Nordic and Baltic have decided to change the behavior of Minimum Acceptable Quantity (MAQ) order condition in the INET trading system.
Currently If MAQ orders are sent as IOC, they can match against multiple resting orders on book. For non-IOC; MAQ orders do not match against multiple orders and the MAQ order condition works instead as a "Minimum Execution Size".
NASDAQ OMX Nordic and Baltic will now harmonize the MAQ behavior and go for a strict "Minimum Acceptable Quantity", meaning that MAQ orders can match against multiple resting orders regardless if the MAQ order was an IOC or a non-IOC, and therefore enhance the matching possibilities.
Time schedule
- INET Test (OTF) – September 8, 2014
- INET Prod – September 29, 2014
NASDAQ OMX Nordic Market Model
The version 2.33 of INET Nordic Market Model, valid as of September 29, 2014, will contain the updates described in this notice. The INET Nordic Market Model has been published 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.
