Tuesday, May 15, 2012
Equity Technical Update #2012 - 16
NASDAQ Offers Additional IPO Testing May 16-17, 2012
What you need to know:
Why should my firm participate in the test IPO?
Firms can use the test to ensure that their order entry procedures are ready for the upcoming Facebook IPO. The test will support the system's recent enhancement to accept certain DAY orders before the quoting period begins. Firms seeking to enter orders ahead of the quoting period should ensure that the early orders meet the following criteria:
- Submitted via RASH or FIX port
- Time-in-Force of DAY only
- Limit or Market orders are accepted, but Market orders submitted before 9:30 a.m., ET, must be marked with an on-open flag (tag 9355) of "O".
- No additional special handling instructions (e.g., pegging, min qty, discretion) are permitted.
Standard IPO order entry at the commencement of the quoting period remains unchanged.
Where can I find additional information?
- Contact NASDAQ OMX Trade Desk at +1 212 231 5100.
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About the NASDAQ OMX Group: The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with more than 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit www.nasdaqomx.com.