Background
Based on member request Nasdaq Nordic has decided to enhance the halt- and release process for ETP’s set up for Market Maker Orders (MMO). The releasing of the Order book after a halt triggered by a MMO pause, will going forward be efficiently managed by the Market Maker (MM).
If valid MMO spread is missing for 10 minutes, the Order Book is Halted with Halt Reason code TH – Trading Halt, immediately followed by an Order book flush (all Orders cancelled by the trading system).
The ITCH “Order Book Trading Action” message will be enhanced with a new halt reason code “MMM – Market Maker Missing”. This message is described in the TotalView-ITCH protocol specification although also available in the GLIMPSE and Nordic Equity Last Sale (NLS) protocols. The change will also be reflected in GCF-TIP.
- INET Test (NTF) – December 3, 2018
Changes will be reflected in INET Nordic Market Model effective January 28, 2019, published on Rules and Regulations for the Nordic Markets. |
Questions and feedback
For further information and feedback concerning this information, please contact:
Ronny Thellman, +46 8 405 63 13, ronny.thellman@nasdaq.com
or
Anders Green, +46 8 405 6752, anders.green@nasdaq.com.
Support
For technical questions, please contact Nasdaq Cash Equity Operations: |
Best regards,
Nasdaq Nordic
Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm are respectively brand names for Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd, Nasdaq Iceland hf. and Nasdaq Stockholm AB.