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Wednesday, July 1, 2015

UTP Vendor Alert #2015 - 9
Postponed: NSX has delayed their reactivation

Markets Impacted:

Products Impacted:

Contact Information:

What you need to know:

  • Delayed Reactivation: NSX has delayed their reactivation. NSX will announce a new date shortly.
  • The National Stock Exchange, Inc. (NSX) has informed the UTP Securities Information Processor (UTP SIP) that, subject to regulatory approval, it is projecting to reactivate its status as an operating Participant for quotation and trading of Nasdaq-listed securities under the Unlisted Trading Privileges (UTP) Plan.
  • As outlined in the UTP data feed specifications, the NSX Market will be identified by the UTP Participant code “C”.

What changes have been requested by NSX?

NSX has notified the UTP SIP of its plans to reactivate quotation and trading of Nasdaq-listed securities. NSX will be active under the UTP plan, subject to regulatory approval.

Once reactivated the NSX’s hours of operation in UTP will be from 8:00 a.m. to 5:00 p.m. Eastern Time (ET) as follows:

Session Start and End Times
Pre-Market Session 8:00 a.m. - 9:30 a.m. ET
Regular Market Session 9:30 a.m. - 4:00 p.m. ET
Post-Market Session 4:00 p.m. - 5:00 p.m. ET

Please refer to the NSX web site, for more information and the recent reactivation announcement.

How will this affect the UTP data feeds??

When NSX reactivates its Trading System for the quoting and trading of Nasdaq UTP symbols, quotation and trade data will be disseminated via the following UTP data feeds:

  • UTP Quotation Data Feed (UQDF): UQDF subscribers will receive NSX BBO quotation via UTP Participant Quotation message format for all NASDAQ-listed securities. NSX quotes will be identified by the market center originator identifier value of "C" in the UQDF message header. In addition, firms will also see the "C" market center value in the National Best Bid and Offer (NBBO) Appendage and Closing Quote Recap message formats.
  • UTP Trade Data Feed (UTDF): NSX trade transactions will be disseminated with the “C” market center originator identifier and the sub-market center identifier of “space” via UTDF.

Will NSX offer any Saturday testing opportunities?

Yes, the UTP SIP in coordination with NSX will support the following testing opportunities associated with the re-activation:

Type of Testing Scheduled Dates Description
Evening Test Transmissions Nightly beginning Monday, August 3, 2015 A test file will be recorded to be replayed in the evenings from 9:00 p.m. to 10:30 p.m., ET, to all UTP data feed subscribers. Evening test data is provided over the production IP services during the designated times. No registration is required to participate in evening testing.
Saturday User Acceptance Test (UAT) Saturday, July 25, 2015; Saturday, August 22, 2015 and Saturday, August 29, 2015 (Confidence Test) NSX will enter data and process this through the SIP. As it is generated, the UTP SIP will disseminate the test data via the UTP data feed production channels.
Production Launch Delayed new date TBD Production implementation of the NSX as an active UTP participant.

Who should I contact for additional information?

  • For questions regarding the UTP Data Feeds, please contact products@utpplan.com.
  • Refer to the NSX web site for information.
  • Contact NSX at +1 800.843.3924 for any business related questions to their reactivation.