NASDAQ Testing Facilities

Easily accessible virtual trading environment that mimics an actual production environment for integrated testing

Introducing Our New Algo Test Environment!

NASDAQ OMX is pleased to announce our partnership with Thesys Technologies, LLC to provide a next-generation testing environment.

The NASDAQ OMX Algo Test Facility* will be a new complement to the existing NASDAQ Testing Facility, offering a market-wide equities testing platform that provides a prodigious, comprehensive testing universe well beyond just the NASDAQ market systems. The Algo Test Facility will provide electronic trading customers with a safe environment to rigorously test and calibrate their algorithmic strategies by replaying and interacting with real historical market data.

Read the Brochure

Features and Benefits

  • Clients will connect via their existing trading infrastructure, including risk systems, OMS, and feed handlers currently housed in the NASDAQ OMX Data Center in Carteret, NJ.
  • Unlike ordinary back-testing systems, the Algo Test Facility is designed to allow traders to test all aspects of their strategy from the quality of their quote processing, all the way down to order handling and the interaction of the trading algorithm with the market microstructure.
  • Customer algorithms will have the ability to interact with and (locally) impact the actual orders of other market participants at the microstructure level.
  • Each simulation recreates the actual market microstructure and real-world trading conditions while providing an accurate view of adverse selection, time priority, fills vs. misses, latency, bursting, and effects of Regulation NMS.
  • Automated reports will allow clients to observe, correct, and test a large range of potential unintended behaviors of their algorithmic strategies before committing real capital.

The Algo Test Facility will be introduced with a phased-in approach beginning with The NASDAQ Stock Market (NASDAQ) in Q3 2014. Through new NTF hand-offs in Carteret, customers will receive NASDAQ ITCH market data and have the ability to execute trades via OUCH and FIX protocols. Historical data will be available on a rolling T+1 through six months basis and also include some key dates such as the 2010 "Flash Crash."

In the weeks that follow, additional equities markets will be added as the product evolves. In the end state, the simulations plan to accept both native and FIX protocols for all U.S. equities exchanges.

*The equities portion of the NTF moved to Carteret from Ashburn in Q4 2013.

For more information, contact Josh Michaels at +1 212 231 5864.


NASDAQ Testing Facilities Overview

The NASDAQ Testing Facilities provide the ability for firms to test their automated systems that integrate with NASDAQ OMX's services. This service supplies firms with multiple venues to test upcoming NASDAQ OMX releases and product enhancements. In addition, firms may use the NASDAQ Testing Facility to test their new software development prior to implementation.

The NASDAQ Test Facilities are available in two locations: Ashburn, VA, which includes services related to Post Trade, and Carteret, NJ, which includes services related to our equities markets.

How the Testing Facility Works

The NASDAQ Testing Facility in Carteret, NJ supports:

  • Equities Trading: OUCH
  • INET FIX
  • Proprietary Market Data Feeds
  • UTP Market Data Feeds

The NASDAQ Testing Facility in Ashburn, VA supports:

Trade Reporting

  • Computer-to-Computer Interface (CTCI)
  • FIX
  • QIX
  • FINRA TRAQS Web Application

Market Data

  • FINRA TRACE Market Data Feed

Please refer to our IP address details for source/multicast IP addresses required to receive each NTF Market Data Feed.

Connectivity

There are multiple ways to connect in to our NASDAQ Test Facilities in Carteret and Ashburn, as detailed below.

Carteret

  • Cross-connect within our Carteret data center to either a colocated cabinet, or a customer direct connect router.
  • VPN access though the Internet or an extranet provider.

Ashburn

CTCI

  • VPN access through the internet or an extranet provider
  • Dial-up (via a v.90/ISDN modem or AS 5300 connection and test service delivery platform located at NASDAQ Data Center)
  • Dedicated circuit via NASDAQ network

QIX, FIX and OUCH

  • VPN access through the internet or an extranet connection

Testing Facility Availability

Hours of Operation

  • Monday through Thursday, 7:30 a.m. to 10:00 p.m., ET.
  • Fridays, 7:30 a.m. to 4:00 p.m., ET.
  • Scheduled appointments are available on weekends.

Who can Participate

All firms that connect, or are setting up a connection, to NASDAQ via:

  • CTCI
  • FIX
  • QIX
  • OUCH
  • Users of FINRA's TRAQS web application

What is the Pricing?

The pricing is listed on the Pricing Page.

How to Subscribe

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