As previously communicated in IT Notice 98/12 NASDAQ OMX is launching a new routing strategy called “NMID” within the Nordic order Routing Offering.
The idea is to first try to match in Nordic@Mid to possibly achieve a price improvement before posting the Order in the Lit NASDAQ OMX Nordic Order Book.
NMID allows members to effectively sweep the Nordic@Mid Dark pool with their regular FIX order flow, designated for the Lit Order books.
NMID details
This Routable Order will first try to be executed in the Nordic@Mid within its given Limit price and then in the NASDAQ OMX Nordic Order Book as a normal BOOK Order.
The Routable Order will not be onward routed to any Away markets.
To be able to be executed in Nordic@Mid, the Routable Order must fulfill the requirements for Mid-price Orders according to the Market Model document for INET.
Time schedule
- Updated FIX protocols are available since December 3
- INET Test - December 17, 2012
- INET Prod - February 1, 2013
Protocol changes
New routing instruction in Tag 76 ExecBroker “NMID”.
Market Model changes
The next version of the Market Model has been published.
http://nordic.nasdaqomxtrader.com/memberextranet/inetnordic/Market_Model/
A new version of the NASDAQ OMX Nordic Member Rules will be effective February 1.
Support
For questions and assistance regarding this Exchange Notice, as well as any technical queries, please contact NASDAQ OMX Tech Support at: +46 8 405 64 10, operator@nasdaqomx.com
Best regards,
NASDAQ OMX Nordic
