Wednesday, January 31, 2018

Equity Trader Alert #2018 - 10
Nasdaq Saturday, February 3, 2018, Test Opportunity

Category:

  • Testing

Markets Impacted:

Contact Information:

Resources:

Nasdaq Production system will be open from 9:00 a.m. to 12:00 p.m. Eastern Time (ET) for general customer testing this Saturday, February 3, 2018. A complete list of products and systems available during the test and the full list of Saturday testing dates can be found on the Saturday Testing Policy Page.

In addition to regular testing on Saturday, February 3, the following new functionality will be available for market participant testing:

  • Midpoint Extended Life Order on The Nasdaq Stock Market (“Nasdaq”)
  • Nasdaq Updates Display-Only Period Length for IPO Process

Nasdaq to Implement the Midpoint Extended Life Order

As announced in Equity Trader Alert #2018 – 3 and Equity Technical Update #2017 – 5, subject to SEC approval, Nasdaq will introduce the Midpoint Extended Life Order (M-ELO) on March 12, 2018. M-ELO is a new order type that is designed to attract and unite counterparties with longer-term investment horizons. M-ELO orders will only execute against other M-ELO orders at the midpoint of the NBBO. For more information regarding M-ELO please click here.

Nasdaq Updates Display-Only Period Length for IPO Process

As announced in Equity Trader Alert #2018 – 2, effective Monday, February 5, 2018, the Display-Only period for all Nasdaq IPO’s will shorten from 15 minutes to 10 minutes.



Firms must register for Saturday testing by contacting Nasdaq Trading Services by 12:00 p.m. (ET), on the Friday prior to the Saturday test in which they would like to participate. The 2018 Saturday Test schedule can be found on the Saturday Testing Policy Page.

The Nasdaq Testing Facility (NTF) is also available on a daily basis and allows firms to test their automated systems that integrate with Nasdaq services.


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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.