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Product LoginFriday, June 23, 2017
Options Trader Alert #2017 - 48
Nasdaq ISE Re-introduction of Special Feature of Exchange Communication of QCC Stock Component
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QCC with Stock Orders will be accepted on Nasdaq ISE (ISE) INET beginning on Tuesday, June 27, 2017. The Exchange noted in an earlier notice Options Trader Alert #2017–32 the delay of the QCC with Stock Orders functionality. Regular QCC Orders are accepted on both the legacy and INET ISE systems and were not affected by the delay of QCC with Stock Order handling. As Members are aware, QCC with Stock Orders can be entered by Members through the Exchange’s front-end order and execution management system (“Nasdaq Precise”), or through the member’s Financial Information eXchange (“FIX”) connection to the Exchange. QCC with Stock Orders are available to members on a voluntary basis. When a member enters a QCC with Stock Order, a QCC Order is entered on the Exchange. That QCC Order is automatically executed upon entry provided that the conditions of Rule 721(b) are met. If the QCC Order is executed, the Exchange will automatically communicate the stock component to the member’s designated broker-dealer for execution. If the QCC Order is not able to be executed, the entire QCC with Stock Order, including both the stock and options components, will be cancelled and no stock order would be communicated to the member’s designated broker-dealer. |
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