IT – INET Nordic – Reminder: Reference Data handling for order book “Symbol” field (7/16)


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.


Attachments

it_exchange_notice_Reminder INET Reference data handling for Symbol 7-16.pdf