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Tuesday, August 13, 2019

Equity Technical Update #2019 - 3
Nasdaq Updates Specifications for MidPoint Seeker

Category:

  • System Impact

Markets Impacted:

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The Nasdaq Stock Market has posted updated specifications to support the Nasdaq Midpoint Seeker (“MIDP”) routing strategy, as mentioned in Equity Trader Alert #2019 – 60. The MIDP routing strategy will be available on September 3, 2019. There are two new liquidity flags introduced to support MIDP routing strategy executions.

  • Liquidity flag ‘v’ - MIDP Order executed on away NMS protected market center
  • Liquidity flag ‘w’ - MIDP Order executed on off-exchange venue

The following specifications have been updated to include the new routing strategy and liquidity flags:

  • INET FIX
  • RASHport

Please refer to the Specifications Page for more information.

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