IT – Genium INET 5.0.0201 MiFID II Project Update Equity Derivatives

This message contains important information regarding the Genium INET upgrade on November 18^th, 2017 to version 5.0.0201 which includes new mandatory functionalities and enhancements going live November 20^th.


Updates to Market Model & Functionalities (MiFID II)

Equity Derivatives Trading

The Genium INET Market Model document version 2.0 will have an effective date of 20 Nov 2017, the first trading day of the Genium INET MiFID II release. A final draft version is now available on the rules site: http://business.nasdaq.com/list/Rules-and-Regulations/European-rules/common/derivatives-rules/index.html

The document includes relevant functional changes made in preparation for MiFID II which are activated either in connection to the new release on 20 Nov, in connection with the new market maker agreement applying on 1 Dec, or on 2 Jan 2018.

Key updates reflect:

·        Updated trader access policy (introduction of “Trader ID”)

·        New mandatory information fields on order and trade entry

·        Updates to block trade policy and procedures

·        Introduction of cross trade procedures

·        Updates to market safeguards & control mechanisms

·        Updates to market maker functionality

·        New stressed market & exceptional market conditions policy

·        Order-to-trade ratio policy

An updated version 2.1 of the document will have an effective date of 2 Jan 2018 and will include updates to relevant appendices with methodologies, configuration and business parameters for the functionalities activated on this date. Version 2.1 will be made available mid-December.

A timeline for the implementation of changes including references to relevant sections and appendices in the market model document is found on page 3 of this exchange notice.

Please note that some areas of the document might be subject to discussions with and/or approval from regulators. Please also note that additional minor and editorial changes might occur in the final version.

For general questions on MiFID II readiness please contact the market readiness team at MIFID2.QA@nasdaq.com.

For further information concerning this exchange notice please contact Joakim Fernlund and for information on the 5.0.0201 release contact Anders Bergström, telephone +46 8 405 60 00.

Nasdaq Derivatives Markets

Joakim Fernlund                                              Anders Bergström
Equity Derivatives Products                               Technical Relations

Updates to Market Model & Functionality – Implementation Timeline