As previously communicated In IT Notices (70/15) and (72/15), Nasdaq Nordic plans to utilize the ability of GCF to have the symbol field longer than 16 characters (up to 32 characters).
The change applies only to Exchange Traded Products and will be used when the issuer requires a longer symbol. As an effect, the symbols relayed over ITCH (Order Book Directory - Symbol) and GCF/TIP (BasicDataTradable [BDt] - Symbol [SYm]) can have different values. Please note that the ITCH symbol will not necessarily be a truncated version of the GCF/TIP symbol.
This change is planned for Exchange Traded Products on Nasdaq Copenhagen, Helsinki and Stockholm. Issuers of Warrants, Certificates and Exchange Traded Notes may opt to provide a longer symbol in addition to the current symbol. Where both values have been provided by the issuer, the longer symbol will be disseminated within GCF/TIP as Symbol [SYm]. Where no value has been provided for the longer symbol, standard symbol will be disseminated via GCF. As per current setup, ITCH will continue to disseminate the standard symbol within the “Symbol” field. This new handling of the order book “Symbol” is planned for GCF production as of February 1, 2016 and has been available to test in INET OTF and GCF- EXT2 and EXT4 as of December 14, 2015. For the list of test instruments with longer symbol applied, please contact operator@nasdaq.com.
Details
Issuers
An additional symbol field will be made available for issuer input. This additional symbol will be optional, will contain a maximum of 32 characters and must be unique. The current “Symbol” field continues as a required field and must also be unique.
Market participants and data feed customers
Customers taking GCF/TIP-feed or reference data file from File Delivery Service (FDS) will see the longer entry in applicable cases (i.e. when longer symbol is provided by the issuer) within the “Symbol” field. Symbol already today has 32 characters. ITCH customers will continue to see the current symbol with maximum length of 16 characters.
INET identifiers:
Market segments impacted:
Exchange / MIC | Segment name | Segment symbol | Currency | Seq. no | GCF ID |
XSTO | OMX STO Warrants | SEEQ WAR | SEK | 4 | 21 |
XSTO | OMX STO Certificates | SEEQ CERT | SEK | 160 | 256 |
XSTO | OMX STO Exchange Traded Notes | SEEQ COM | SEK | 158 | 264 |
XHEL | OMX HEL Covered Warrants | FIEQ WAR | EUR | 64 | 93 |
XHEL | OMX HEL Certificates | FIEQ CERT | EUR | 159 | 258 |
XHEL | OMX HEL Exchange Traded Notes | FIEQ COM | EUR | 157 | 456 |
XCSE | OMX CPH Warrants | DKWA WAR | DKK | 167 | 308 |
XCSE | OMX CPH Certificates | DKWA CERT | DKK | 168 | 310 |
XCSE | OMX CPH Exchange Traded Notes | DKEQ COM | DKK | 357 | 458 |
GCF/TIP and ITCH:
Symbols relayed over GCF/TIP (BasicDataTradable [BDt] - Symbol [SYm]) and ITCH (Order Book Directory - Symbol) can have different values. Please note that the ITCH symbol will not necessarily be a truncated version of the GCF/TIP symbol.
Instruments where the Symbol field can differ between ITCH and GCF have the below instrument type:
ITCH message = Order Book Directory, Field = Financial Product, Value = 8 = Warrant
GCF/TIP messages = Basic Data Derivative [BDDe], field = DerivativeType [Dty] 4 = Warrant
The recommended mapping is to match:
ITCH | GCF/TIP | ||
Table | Field | Table | Field |
Order Book Directory | Order Book | Basic Data Tradable [BDt] | SourceId [Si] |
Protocol specifications
No protocol changes. No new field added in GCF/TIP for the longer symbol. Existing field “Symbol” will carry entries for the longer symbol in GCF/TIP, where this reference data has been provided by the issuer. “Symbol” field in GCF already today supports 32 characters.
Current versions of INET protocol specifications are available at the Nasdaq Nordic Technical Information website, under INET Nordic Protocol Specifications.
Implementation schedule
Time schedule
The order book Symbol handling change is planned for launch:
- INET Test (OTF), GCF EXT2, GCF EXT4 – available as of December 14, 2015
- GCF Production – February 1, 2016
Documentation
INET Nordic Market Model:
No updates in Market Model resulting from this change. The current version of the Market Model can be viewed at www.nasdaqomx.com/nordicrules.
Support
For technical questions, please contact Nasdaq Cash Equity Operations:
Tel: +46 8 405 6410,
E-mail: operator@nasdaq.com
A list of current test instruments can be obtained by contacting operator@nasdaq.com.
Best regards,
Nasdaq Nordic
“Nasdaq Nordic” is not a legal entity but represents the common offering by Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd, Nasdaq Iceland hf. and Nasdaq Stockholm AB.