IT – Genium INET – Order Record Keeping updates – Initial testing available - (28/17)


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. Mapping of short codes to long codes will be done via Nasdaq Member Portal; either through REST API, SFTP file upload, or manually through the Member Portal GUI. For a summary of the technical solution and a high level time plan for the roll-out please consult the Nasdaq Order Record Keeping Guide, available on the Nasdaq Genium INET Technical Information website under Genium INET MiFID II 5.0.0210.

Testing of short code management and format specifications

As of today, a test environment of the Member Portal, dedicated specifically for Order Record Keeping (ORK), is available for Members and ISVs. With this first release of Member Portal ORK Test, customers will be able to use the REST API and to manually upload CSV files or to register identifiers directly in the GUI. Testing of file uploads via SFTP will preliminary be made available in October. To support testing, an updated version of the Short Code Management API Manual has been published along with a CSV File Format Specification. Both documents are located on the Nasdaq Genium INET Technical Information website, under Genium INET MiFID II 5.0.0210.

In accordance with Nasdaq’s time plan, full end-to-end testing will preliminary be made available in October, when Member Portal ORK Test is connected to the Genium INET EXT4 and the INET M2 test environments. Short codes submitted in actual orders will then be reconciled against registered identifiers in Member Portal ORK Test in order to identify codes for which a mapped long code value is missing, and for which the customers are consequently expected to provide mappings. To facilitate testing in the meantime, the Member Portal ORK Test database has been pre-populated with 200 random short codes for each Membership, for which mappings are currently missing.

Access to Member Portal Test

All Member Administrator user accounts in the Production version of Member Portal have been copied to Member Portal ORK Test, but have been assigned randomized passwords. To access the test environment, Member Administrators are therefore advised to visit https://memberportal-ext-test.nasdaq.com and click on the link “Forgot Password?”. It will then be possible to request a reset of the password via email. Once logged in to Member Portal ORK Test, administrators will be able to create more GUI user accounts for their firm. (If REST API user accounts are needed, these can be requested by submitting a regular request through the Production version of Member Portal.)

Update on short code format and range

Nasdaq will make an amendment to the previously communicated solution on the format of short codes. The format will change from signed to unsigned, meaning that the range of supported short codes will be 0 – 4 294 967 295. Please note that values 0-3 are still reserved within the respective short code series. This amendment is reflected in Member Portal ORK Test as of today. It is already implemented in INET M2 and is planned to be implemented in Genium INET EXT4 on July 17.

 

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
 


Attachments

IT-Notice_ORK Updates_Initial testing available_GENIUM INET.pdf