Tuesday, October 10, 2017
Equity Trader Alert #2017 - 190
PHLX, NASDAQ and BX Request Information Regarding Sponsored Access
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Recently, NASDAQ PHLX LLC (Phlx), The NASDAQ Stock Market LLC (Nasdaq) and NASDAQ BX, Inc. (BX) (collectively “Nasdaq Exchanges”) requested market participants to provide information regarding sponsored access relationships on any of the Nasdaq Exchanges. Specifically, a survey was sent to each firm’s compliance officer to obtain this information. A link to that survey can be found here. We would ask that each market participant ensure that this survey was completed. Please note that NASDAQ PHLX LLC Rule 1094 and The NASDAQ Stock Market LLC and NASDAQ BX, Inc. Rules 4615 allow market participants to enter into sponsored access relationships. Sponsored Access is defined in these rules as an arrangement whereby a member or member organization permits its customers to enter orders into the exchange's trading system that bypass the member's or member organization’s trading system and are routed directly to the exchange, including routing through a service bureau or other third party technology provider. Participants/Members are obligated to inform the Nasdaq Exchanges of all sponsored relationships. If you are granting a person or entity access to any Nasdaq Entity, utilizing your market information (i.e. MPID or options account), your firm is required to provide information regarding that access. The Nasdaq Exchanges utilize this information for both regulatory and operational information in granting access to its markets. If you have any questions regarding Sponsored Access please contact membership at 215-496-5322. |
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