RSS Feeds
Product LoginWednesday, July 25, 2012
Options Technical Update #2012 - 10
NOM and BX Options Update FIX Specifications to Support a Post-Only Enhancement
Markets Impacted:Contact Information:
|
What you need to know:
|
|---|
What is changing?
The NASDAQ Options MarketSM (NOM) and NASDAQ OMX BX Options (BX Options) are updating the FIX specifications to support an optional Post-Only feature, subject to Securities and Exchange Commission (SEC) approval. The new optional feature allows participants to have Post-Only orders returned to them when they would otherwise lock the NBBO or be posted on the book at a price other than their limit.
Pending SEC approval, this feature will be available on NOM on August 1, 2012, and on BX Options on September 28, 2012.
How do Post-Only Orders work?
If a Post-Only Order locks or crosses an existing bid or offer on NOM, the Post-Only order will be re-priced and displayed at a price $0.01 below the current low offer (for buys) or $0.01 above the current best bid (for sells).
If a Post-Only order locks or crosses the NBBO but does not lock/cross a bid or offer on NOM (BX when applicable), it will be re-priced to the current low offer (for buys) or the current best bid (for sells) and will be displayed at a price $0.01 below the best offer (for buys) or $0.01 above the best bid (for sells).
The new optional Post-Only feature allows participants to have their Post-Only Orders returned whenever the order locks or crosses the NBBO or is posted at a price other than its limit price.
How do I enable this feature?
Post-Only Reject functionality is a setting at the FIRM level. To enable this functionality on your ports, please contact Subscriber Services at +1 212 231 5180.
Are there additional changes to the FIX Specifications?
The FIX Specifications have also been updated to add BX Options to Tag 207 (SecurityExchange).
Where can I find more information?
- Refer to the FIX Specifications on the NASDAQ OMX Trader® website.
- Refer to SR-NASDAQ-2012-089 and SR-BX-2012-057.
- Contact NOM or BX Options Market Operations at +1 215 496 1571
Subscribe to Email Alerts:
NASDAQ OMX is offering customers the ability to self select news delivery across various NASDAQ OMX markets. Create and maintain a profile for updating alert preferences and contact information. Visit the enrollment form on the NASDAQ Trader website and sign up today! Please note that if you choose to unsubscribe from an email list, you may no longer receive potentially critical emails from the NASDAQ Stock Market regarding NASDAQ's trading and data products, regulatory issues or marketplace initiatives.
Please follow NASDAQ OMX on 
Facebook 
RSS and
Twitter.
About the NASDAQ OMX Group: The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with more than 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit www.nasdaqomx.com.
