NASDAQ OMX Nordic Exchanges in Stockholm, Helsinki and Copenhagen (below NASDAQ OMX Nordic Exchanges) plans to offer the possibility for Market Makers in warrants to use the new order type “Market Maker Order”. The goal with the new order type is to safeguard that Market Makers in warrants always can manage their orders effectively in order to fulfill their role.
A Market Maker Order cannot be matched and create a trade unless certain conditions are fulfilled (see attached description of the details). The new order type will primarily be offered on warrants. Certificates could potentially be included in a later phase.
Market Maker Orders will only be possible to enter via the OUCH-protocol. The FIX-protocol will not support this new order type. Orders will be flagged in the public market data feeds (ITCH-feed and the Global Consolidated Feed – GCF-TIP).
Time schedule
2010-12-21 Protocol specifications GCF-TIP 2.2.3 for release 2011-03-28
2011-01-18 Protocol specifications INET Nordic available (OUCH/ITCH)
2011-03-21 Functionality available in OTF
Market Model updated
Final configuration communicated (e.g. timeout period)
2011-04-18 Production
NASDAQOMX Nordic Member rules updated
Other
The solution is subject for discussions with relevant authorities.
For more information
The product description is available here:
http://nordic.nasdaqomxtrader.com/memberextranet/inetnordic/inet_nordic_enhancements/
For further information and feedback concerning this information please contact your Key Account Manager.
Best regards,
NASDAQ OMX Nordic
