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Tuesday, May 17, 2022

Equity Trader Alert #2022 - 47
Nasdaq Introduces the ability to roll-over LOCs to ETC order-by-order

Category:

  • New Functionality

Markets Impacted:

Contact Information:

Resources:

On May 31, 2022, the Nasdaq Stock Market (Nasdaq) will offer the ability to roll-over LOCs to ETC (Extended Trading Close) order-by-order. Previously, the roll-over functionality was configured at an MPID level. This change provides additional granularity needed for participants to roll-over their LOC orders into ETC.

To support this new functionality, users must submit their RASH/FIX orders as follows:

Cross Type: C (Closing Cross)

TIF: E (Extended Close)

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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.

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