Monday, February 01, 2010

Data Technical News #2010 - 3
NASDAQ OMX Updates Specifications to Support 5-Character Root Symbol Listings and Trading

Market Impacted:

  • The NASDAQ Stock Market
  • NASDAQ OMX BX

Contact Information:

What you need to know:

  • As announced in Data News #2010-2, NASDAQ OMX protocol specifications will require modifications to prepare for industry listing and trading of 5-character root symbols.
  • NASDAQ OMX has updated all affected market data specifications.
  • Firms must obtain the updated specifications and prepare their systems to accept the changes prior to Monday, May 3, 2010

Why is NASDAQ OMX modifying equity specifications?

The NASDAQ Stock Market®; and NASDAQ OMX BXSM (BXSM) technical specifications currently limit the length of the total ticker symbol (root plus suffix) to 6 characters. NASDAQ OMXSM is modifying these specifications to accommodate symbol sizes of up to 8 characters in response to the New York Stock Exchange's intention to begin listing and trading companies using 5-character root symbols exclusive of any symbol suffix as announced in Equity Trader Alert #2010-1.

Which NASDAQ OMX data products are impacted by the equity symbology changes?

For the equity symbology changes, NASDAQ OMX is releasing new versions of the NASDAQ®; and BX specifications for the following direct data feed products:

 

What is the implementation schedule for the new data feed versions?

NASDAQ OMX expects to release the new version of the NASDAQ and BX data feeds for equity symbology on or about March 1, 2010. NASDAQ OMX is advising distributors that process NYSE-listed data to transition to the new versions of the NASDAQ and BX data feed format on or before Monday, May 3, 2010.

What happens if my firm is not ready by May 3, 2010?

Only the new versions of the NASDAQ and BX feeds will support symbols with a length greater than 6 characters. Direct data feed subscribers that have not transitioned to the new versions by May 3, 2010, will not receive data for those issues that are greater than 6 characters in length. NASDAQ OMX understands that some firms may need additional time to transition to the new feed versions. NASDAQ OMX will, therefore, continue to support the legacy versions of the NASDAQ and BX data feeds through December 31, 2010.

What network protocol options will NASDAQ OMX support for the new feeds?

NASDAQ OMX will offer the new data feed versions in the same protocol options as the legacy data feed versions. There will be no change to the protocol specifications for the NASDAQ and BX feeds.

How do I order the new feed versions?

To order a new version of the NASDAQ and BX data feeds, existing distributors would need to complete the Data Feed Request Form online or in hard copy. In addition, firms would need to make the necessary arrangements to connect to the new data feed version in the NASDAQ OMX – U.S. data centers (co-location facility, extranet or direct connectivity provider).

How does this affect the NASDAQ OMX suffix symbology plan?

NASDAQ OMX is still reviewing its suffix symbology plan to determine the correct course of action. As soon as the best course of action is determined, NASDAQ OMX will post a Data Technical News item to outline the necessary changes.

How will these changes affect bandwidth for NASDAQ and BX data feeds?

NASDAQ OMX expects that the new versions of the NASDAQ and BX data feeds will require 5% more bandwidth than the legacy versions. Please refer to the revised NASDAQ OMX Bandwidth Recommendations for details.

Will testing be available?

Yes, NASDAQ OMX will announce testing for market data feeds in upcoming communications.

Where can I find additional information?


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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 89 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to 3,800 total listings with a market value of $11 trillion. To learn more, visit: business.nasdaq.com.