NASDAQ OMX BX (BX) is a Reg NMS protected quote featuring a price/time priority market structure and popular trading functionality. With a rebate to remove liquidity, BX offers attractive economics for liquidity takers. This pricing structure creates opportunities for adders of liquidity as well, providing a way to maximize execution possibilities.
Features and Functionality
BX features many of the popular order types and functionality that customers have come to enjoy on NASDAQ. Take advantage of the Mid-Point Peg and Post-Only orders, Order Modify functionality and Self Match Prevention on fast and efficient INET technology. In addition, BX now offers Routing and Minimum Quantity Orders.
For adders of liquidity, BX offers discounted add rates through the BX Qualified Liquidity Provider (QLP) program. Those who meet the program criteria receive a discounted fee to add liquidity of $0.0015 per share.
NASDAQ OMX Order Type Guide
NASDAQ's equity order types are designed to help members comply with regulation and execute a range of trading strategies. To better help members understand the available order types, we invite you to view our new Order Type presentation.
CLICK HERE TO VIEW THE PRESENTATION
The following protocols are available for accessing BX:
NASDAQ OMX offers the following proprietary data products to support the BX market:
NASDAQ OMX BX TotalView-ITCH - Provides full order depth with attribution and last sale information.
BX Historical TotalView ITCH - Offers a historical record of the order and trade transaction data from the BX TotalView-ITCH data feed. Subscribers to this historical product may download daily transaction logs on a T+1 basis from a secured website or FTP server.
BX Basic - Provides key data elements for all exchange-listed equities traded on the BX execution system.