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Wednesday, February 1, 2023

Equity Trader Alert #2023 - 7
Update in Timing: Nasdaq Introduces Equities Risk Checks

Category:

  • New Functionality

Markets Impacted:

Contact Information:

Resources:

  • EQRC Overview
  • ETA #2022-107

    • As previously stated in Equity Trader Alert 2022-107, The Nasdaq Stock Market LLC (“Nasdaq”), NASDAQ BX, Inc. (“BX”) and NASDAQ PSX (“PSX”) are implementing a newly designed risk system to address market access rules with oversight and flexible controls built to keep evolving with changing market landscapes and client dynamics. Nasdaq offers a comprehensive pre-trade risk solution to provide final checks before orders enter each of the Nasdaq exchanges.

    The checks will be implemented February 27, 2023 for BX and PSX and on March 13, 2023 for Nasdaq.

      Testing Opportunities

    Testing is currently available in the Nasdaq Testing Facility (NTF). Firms are able to request access to the API service and provision users in NTF by coordinating with Nasdaq Trading Services.

    The Saturday UAT production testing opportunities will be:

      February 4

      February 25

      March 11

      March 25

    Please refer to the Equities Risk Checks Overview and User Guide for more information.

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