Under MiFID II Article 25 and RTS 24, a trading venue has to keep a database of all order records, session changes, changes to the indicative prices and volumes during auctions. Nasdaq will support short codes on selected order entry fields for the Equity, Equity Derivatives, Commodities and Fixed Income markets to prevent sensitive full text data to be submitted on orders.
Nasdaq has decided to make adjustments to the previously communicated solution for Order Record Keeping (IT-Notice), which will include changes to the number of supported short code series from 2 to 6. This change will affect the format by which the long codes are uploaded via Member Portal, csv files and Rest API.
As a consequence, Nasdaq will update the exchange API and protocol specifications.
Nasdaq will introduce FIX Tag [2376], PartyRoleQualifier (included in EP222) to the FIX protocols for INET and Genium INET, and a similar field will be added to Nasdaq´s native protocol, OUCH (INET) and the OMnet API (Genium INET). These changes will also affect the trading front end applications.
Further information in regards to this change will be communicated separately for each trading platform as well as for short code management Rest API.
An updated version of the Nasdaq Order Record Keeping Guideline is available on the Genium INET 5.0.0210 website
For further information and feedback concerning this information, please contact:
Trading Operations
tradingoperations@nasdaq.com
+46 8 405 7360
For technical questions, please contact:
Technical Support
technicalsupport@nasdaq.com
+46 8 405 6750
