RSS Feeds
Product LoginMonday, July 23, 2012
Futures Trader Alert #2012 - 7
NFX to Introduce Trading System Counting Period, Effective Friday, July 27, 2012
Markets Impacted:Contact Information:
|
What you need to know:
|
|---|
What is NFX Rule E18?
Currently, NFX Rule E18 provides that when the NASDAQ OMX Futures ExchangeSM (NFXSM) trading system, NFX XL, receives a quote that locks or crosses the NFX XL Best Bid and Offer (BBO), NFX XL will disseminate a new NFX XL BBO at either the locked price or resting price crossed by the Order, then calculate and disseminate a new NFX XL BBO.
What is changing?
Effective Friday, July 27, 2012, NFX is amending NFX Rule E18 to introduce a one-second "counting period" during which time a Market Maker may eliminate a locked or crossed market caused by their electronic quotation.
Notwithstanding the counting period, Market Makers will be obligated to execute orders at their disseminated quotation. The quote that is locked or crossed may be executed by an order during the one-second counting period.
What will happen to unresolved locked or crossed markets remaining after the counting period?
Any unresolved locked or crossed markets remaining after the counting period will be automatically executed.
Will the new counting period apply to orders?
The counting period will not apply to orders, only quotes entered by Market Makers.
Where can I find more information?
- Contact NASDAQ OMX Options and Futures Market Operations at +1 215 496 1571 for NFX customer support.
Email Alert Subscriptions:
Nasdaq offers customers the ability to self select news delivery across various Nasdaq 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. To unsubscribe, also click on the enrollment form
Please follow Nasdaq on 
Facebook 
RSS and
Twitter.
Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.
