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Friday, April 28, 2017

Equity Trader Alert #2017 - 91
Nasdaq and BX Modify Functionality of Midpoint Orders

Category:

  • System Impact

Markets Impacted:

Contact Information:

Resources:

Effective May 8, 2017, as described in Equity Trader Alert #2017 - 21 and here, The Nasdaq Stock Market (“Nasdaq”) and Nasdaq BX (“BX”) will be modifying the handling of midpoint orders during a crossed market.

Additionally, as announced in Equity Technical Update #2017 - 1, Nasdaq and BX have added a new cancel reason for midpoint orders, entered through RASHport and INET FIX, that are cancelled due to a crossed market:

Reason Explanation
J System cancel. This midpoint order was cancelled due to a crossed market.

Please refer to the Specifications Page for more information.

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