Please be informed that because of the introduction of technical changes and member requirements due to MiFID II, Nasdaq has decided that special handling of GTC (Good-Till-Cancelled) and GTD (Good-Till-Date) orders will be necessary in order to ensure properly functioning markets.
As previously communicated, Nasdaq will introduce new mandatory API fields on order entries on November 20, 2017. As a consequence, Nasdaq has decided to remove (or flush) all GTD and GTC orders on Genium INET on November 17, 2017, after market close.
As previously communicated, between November 20, 2017 and January 2, 2018, members will be required to populate the Order Record Keeping fields with values that need to be properly formatted, but which will not have to correspond to the values that will be used after MiFID II becomes effective (i.e. dummy values allowed). In order to ensure only correct values are carried on in orders when MiFID II is in application on January 3, 2018, Nasdaq has decided to remove (flush) GTC and GTD orders in Genium INET on January 2, 2018, after market close.
Please note that flushed GTC orders will not be reinserted by Nasdaq, such action will need to be taken by Members.
For further information and feedback concerning this information, please contact:
Trading Operations
tradingoperations@nasdaq.com
+46 8 405 7360
