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Tuesday, January 31, 2017

Equity Trader Alert #2017 - 21
New Timing: Nasdaq and BX Modify Functionality of Post Only Orders

Category:

  • New Functionality

Markets Impacted:

Contact Information:

Resources:

The Nasdaq Stock Market (“Nasdaq”) and Nasdaq BX (“BX”) will be implementing the modified functionality of Post Only orders as previously announced in Equity Trader Alert #2016 - 224 in late Q1 2017. More information on the exact date will be communicated within the next two weeks.

In addition to the Post Only modifications, Nasdaq and BX will be modifying the handling of midpoint orders during a crossed market. Midpoint orders received during a crossed market will be rejected, and resting midpoint orders on the Nasdaq and BX book will be canceled if entered through OUCH or FLITE and updated to the new midpoint if entered through other order entry protocols.

Please see additional details here.

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