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Wednesday, March 30, 2011

Options Regulatory Alert #2011 - 7
NOM Provides Guidance on Participant ID Migration in Preparation for NOM 2.0

Markets Impacted:

Contact Information:

What you need to know:

  • As announced in Options Trader Alert #2011-12, NASDAQ OMX® is planning several technological enhancements and updates for The NASDAQ Options MarketSM (NOM), referred to as NOM 2.0, to provide richer functionality.
  • Upon its launch, NOM 2.0 will adopt the participant ID structure currently used by NASDAQ OMX PHLXSM (PHLX®).

What is changing?

Upon launch, NOM 2.0 will adopt the PHLX participant ID structure. Firms will be migrated to Exchange account numbers and mnemonics.

  • Order entry firms will be assigned an options Exchange account number and may utilize existing NOM Market Participant Identifiers (MPIDs) as mnemonics for NOM 2.0.
  • Market making firms will be migrated to Exchange account numbers + suffix participant IDs. Existing NOM market maker MPIDs will be retired once successfully migrated.

What do firms need to do?

All NOM participants should contact NASDAQ OMX Membership to set up Exchange account numbers and coordinate participant IDs as necessary.

Additionally, as announced in Options Regulatory Alert #2011-6, participants are required to provide an NSCC clearing account number to NASDAQ OMX Membership via email at membership@nasdaqomx.com to be used for direct debiting pursuant to NASDAQ Rule 7007. Participants must carbon copy their clearing firm contact within the same email message.

Where can I find more information?


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