Search:
   

Friday, January 18, 2013

Equity Technical Update #2013 - 5
Limit Up/Limit Down and Market Wide Circuit Breaker Industry Test Plan for Saturday, January 26, 2013

Markets Impacted:

Contact Information:

What you need to know:

  • NASDAQ OMX, in coordination with the other exchanges and market participants, will be offering industry wide testing to support both the Limit Up/Limit Down and the revised Market Wide Circuit Breakers on Saturday, January 26, 2013.
  • Each Exchange and their specifically assigned testing members will be running through a set of core scenarios outlined below in names that only they can use.
  • All other industry testing participants will be able to test the functionalities in the symbol list provided below.

What is the purpose of these tests?

NASDAQ OMX is conducting four Saturday tests as part of an industry wide effort to ensure that our Members are properly prepared for the market wide system changes coming for Limit Up/Limit Down and the revised Market Wide Circuit Breakers.

What is the anticipated industry test plan?

Each Exchange will be asking two member firms to participate in the specific scenarios outlined below. If you have not been notified as one of the testing members by an Exchange you may NOT use the symbols below to test. Exchanges will run through each of the below core scenarios using their assigned testing members in their assigned symbols.

Symbols Reserved for Exchanges Only for Testing

NASDAQ NYSE ARCA NYSE MKT BATS Direct Edge CHX NSX
RIMM A ABI API BBY TSLA BAX ARNA
ZNGA AMD AFK GRMN BA BBBY BBT
CBO AGF INDA BAC YINN
IGZ
ZVV

All other industry testing participants that are not specifically assigned as testers may use the following symbol list to run any tests they desire.

Symbols Open for ALL Industry Testing Participants

NASDAQ NYSE ARCA NYSE MKT
ARCC AAP AHB ANV
GNTX ABBV ALD ALN*
ATML ABC ALT IBO*
ATVI ABT DUST INO*
TFSL CBX DVYL
CPWR CIM ZZK
MRVL AA* ZZZ
MDRX AAN* AKN*
ENDP ANGL*
HBAN
PLCM
TIBX
TWTC
UTIW
ZION
ZVZZT
ZWZZT

*Customer testing is permitted only after 10:30 a.m., ET

What are the anticipated scenarios that the Exchanges and their selected testing parties will run?

Refer to the LULD/MWCB Industry Testing Plan document on the NASDAQ Trader® Testing webpage for detailed information about the anticipated scenarios that the Exchanges and their selected testing parties will run.

May industry participants that are not specifically assigned as testers also run through the above scenarios?

Yes. Provided they do not use the symbols assigned only to Exchanges.

Will there be a simulated Market Wide Circuit Breaker?

Yes. The SIP will generate a breach message for a Level 1 Halt at 11:30 AM. A fifteen minute halt will follow with a standard reopening auction process on each Primary.

What will be available and when?

NASDAQ OMX production systems will be available for pre-market trading in all securities at 9:00 a.m., Eastern Time (ET), followed by a market open at 9:30 a.m., ET. A market close event will be scheduled for 1:00 p.m., ET.

Double wide price bands will be in effect from 9:30 a.m. - 9:45 a.m., ET and 12:35 p.m. - 1:00 p.m., ET

What are the available test dates?

Refer to ERA #2013-1 for the previously announced industry wide testing.

Do customers need to register for the test?

Yes, firms should email NASDAQ OMX Trading Services to register for the test.

Who should customers contact if they have questions during testing?

Customers should contact the NASDAQ OMX Trade Desk at +1 212 231 5100.

Where can I find additional information?


Email Alert Subscriptions:
Nasdaq offers customers the ability to self select news delivery across various Nasdaq markets. Create and maintain a profile for updating alert preferences and contact information. Visit the enrollment form on the Nasdaq Trader website and sign up today! Please note that if you choose to unsubscribe from an email list, you may no longer receive potentially critical emails from the NASDAQ Stock Market regarding Nasdaq's trading and data products, regulatory issues or marketplace initiatives. To unsubscribe, also click on the enrollment form

Please follow Nasdaq on Facebook RSS and Twitter.

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.

View NASDAQTrader.com Mobile