Search:
   

Tuesday, July 1, 2014

Equity Trader Alert #2014 - 48
NASDAQ OMX PSX Changes Execution Algorithm to Price Setter Pro Rata

Category:

  • New Functionality
  • System Impact

Markets Impacted:

Contact Information:

Resources:

PSX is updating the priority structure for executing orders on the exchange. Effective Friday, August 1, 2014, PSX will modify the order priority and execution algorithm structure to Price Setter Pro Rata. 

Price Setter Pro Rata

Under this priority structure, orders that set the PSX Best Bid or Offer (PSX BBO) will be guaranteed a 40% allocation when incoming marketable orders are executed.  The remaining 60% of a given order will be executed against resting orders via a size pro rata allocation.

NASDAQ OMX plans to migrate all PSX-traded securities to the Price Setter Pro Rata priority and execution structure on August 1st.   

PSX Testing

  • NTF - Testing is available daily in the PSX NTF. Please contact NASDAQ OMX U.S. Market Operations at +1  212 231 5180 to schedule your test. 

Pricing

For PSX pricing please see the PSX Pricing Page.

 


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.

View NASDAQTrader.com Mobile