BX Options Market Specifications
All of the interfaces to Nasdaq BX OptionsSM are light weight messaging protocols via Multicast or TCP/IP connection. No special hardware or middleware is required to connect to Nasdaq BX Options. Retrieve the latest versions of the messaging protocols and formats for each of the areas of interest below.
Options Trading Protocols
Order Entry Firms
FIX to Trade Options: Nasdaq protocol based on the industry standard Financial Information eXchange (FIX) that provides customers with a flexible protocol for entering orders into NOM that can be routed to other exchanges if necessary. Market makers cannot use FIX for market making activities.
Specialized Quote Interface (SQF): The proprietary bulk quoting API for market making which is the same on Nasdaq PHLX. Describes the messages required based on the quote participants role.
Clearing Trade Interface (CTI): Interface to provide quoting participants with real-time clearing trade updates for a participant.
DROP: Interface for firms interested in receiving real time information regarding orders and executions sent to BX Options.
BX Options Market Data Feeds
BX Options market data will be identical to NOM market data feeds. Direct data feeds will include:
- BX Options Top of Market (BX Top) – Features data elements including, best bid and offer quotations, last sale data, administrative and market event messages. BX Top is the same as NOM BONO.
- BX Options Depth of Market (BX Depth) – Offers order and quote level data, trade messages, net order imbalance data and administrative messages. BX Depth is the same as NOM ITTO.
- BX Options Glimpse – A complement to BX Depth, this is a point to point data feed connection that provides direct data feed customers with the current state of the BX Options book.
To view the market data specifications of all options markets, please visit the derivatives specifications page.
To subscribe to any of our market data products, please contact your Nasdaq Global Data Products Account Manager at +1 301 978 5307 or visit the Global Data Products Administration page to complete the appropriate agreements and forms.