IT - INET Production - Market Maker Orders available in Production from April 18 (59/11)

As previously announced NASDAQ OMX Nordic Exchanges in Stockholm, Helsinki and Copenhagen (below NASDAQ OMX Nordic Exchanges) will offer the possibility for Market Makers in warrants and certificates to use the new order type “Market Maker Order” (MMO). The goal with the new order type is to safeguard and protect that Market Makers always effectively can manage their orders.

A MMO cannot be matched, and create a trade, unless certain conditions are fulfilled. MMOs will only be possible to enter via the OUCH-protocol. The FIX-protocol will not support this new order type. MMOs will be flagged in the public market data feeds (ITCH-feed and the Global Consolidated Feed – GCF-TIP).

Market segments that will allow Market Maker Orders

For the following Market segments, MMOs can be submitted:

To be able to submit MMOs, the Market Maker needs to apply for the service at Member Services (memberservices@nasdaqomx.com). An application (please click on the link) form needs to be filled in, and is to be used for application for both INET OTF and INET Production.

Configuration and test

For testing purposes the time-out period is set to 30 seconds. In production the time-out period will be set to 0,6 seconds. This means that the system will automatically create a trade after this period if the Market Maker fails to refresh his initial order.

Before going live we want members to verify the functionality in our test environment by completing a set of test cases. Please contact Tech Support at: +46 8 405 64 10, operator@nasdaqomx.com.

Time schedule

2010-12-21                          Protocol specifications GCF-TIP 2.2.3 for release 2011-04-11

2011-01-18                          Protocol specifications INET Nordic available (OUCH/ITCH)

2011-03-21                          Functionality available in OTF

2011-04-18                          Production

                                NASDAQOMX Nordic Member rules updated

For more information

Product description:

http://nordic.nasdaqomxtrader.com/memberextranet/inetnordic/inet_nordic_enhancements/

Protocol specifications and application form:

http://nordic.nasdaqomxtrader.com/memberextranet/inetnordic/Connectivity_and_Protocols/

The Market Model has been updated with information about the new order type:

http://nordic.nasdaqomxtrader.com/memberextranet/inetnordic/Market_Model/

The NASDAQ OMX member rules have been updated about the new order type:

http://nasdaqomx.com/listingcenter/nordicmarket/rulesandregulations/

For further information and feedback concerning this information please contact Tech Support at: +46 8 405 64 10, operator@nasdaqomx.com.

Best regards,

NASDAQ OMX Nordic