Monday, September 10, 2012

UTP Vendor Alert #2012 - 7
Market-Wide Conference Call Re: UTP Message Format Release on Friday, September 14, 2012

Markets Impacted:


Products Impacted:

  • UTP Quotation Data Feed (UQDF)
  • UTP Trade Data Feed (UTDF)
  • OTC Montage Data Feed (OMDF)

Contact Information:

What you need to know:

  • There is a market-wide call scheduled for Friday, September 14, 2012 at 10:00 a.m., ET.
  • As announced in UTP Vendor Alert # 2012-3, the UTP Securities Information Processor (SIP) will soon introduce new quotation message formats for the UTP Quotation Data Feed (UQDF).
  • On Monday, October 1, 2012, UQDF quotation message formats will be implemented as a "hot cut release."

What are the details of the market-wide call?

UTP SIP will hold a market-wide call on Friday, September 14, 2012, to provide customers with information on the "hot cut" UTP message format release scheduled for Monday, October 1, 2012, as well as to answer questions. Details for this call are as follows:

Friday, September 14, 2012; 10:00 a.m., ET

Leader: Rob Vilardo

Toll-Free Dial-In Number: +1 877 263 3108

International Dial-In Number: +1 707 287 9368

Conference ID: 29523069

***Please note that this call is closed to members of the media***

The general agenda items for Friday's call are as follows:

  • UTP Quotation message implementation plans
  • Testing opportunities
  • Remaining time will be used for Q & A by call participants

What are the implementation plans for October 1, 2012?

The first release will take place as a "hot cut release" on Monday, October 1, 2012. As announced in UTP Vendor Alert # 2012-3, the UTP SIP will introduce new quotation messages for the UTP data feeds related to the new NYSE Euronext Retail Liquidity Program (RLP) as well as Limit Up/Limit Down (LULD) and Market Wide Circuit Breaker (MWCB) rules. In an effort to minimize the direct data recipients coding changes, the UTP SIP will make the required regulatory changes to the quotation message formats on UTP Quotation Data FeedSM (UQDFSM) as a single release.

In this "hot cut release" the UTP SIP will replace the existing UTP Participant Quotation message formats on UQDF with completely new message formats. As outlined in the UQDF specification document, the data mapping for the October 1st release will be as follows:

Message Format
Current Values Through September 28, 2012 New Values as of October 1, 2012
Message Category Message Type Message Category Message Type
UTP Participant BBO Short Form Quotation Q C Q E
UTP Participant BBO Long Form Quotation Q D Q F

Direct data recipients will be required to migrate over to the new quotation message formats on Monday, October 1, 2012, or run the risk of not receiving UTP quotation data.

What are the testing opportunities for October 1, 2012, release?

As announced in UTP Vendor Alert # 2012-5, the UTP SIP will offer the following evening and weekend testing opportunities for this UQDF quotation message release:

Type of Testing Scheduled Dates Description
Evening Test Transmissions Monday, August 13, 2012 through Friday, September 28, 2012 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. No registration is required to participate in evening testing.
Saturday User Acceptance Test (UAT) Saturday, September 8, 2012; September 15, 1012; and Saturday, September 29, 2012 (Confidence Test) UTP participants will be invited to enter data to test the new functionality. As it is generated, the UTP SIP will disseminate the test data via the UTP data feeds. Advance registration is requested for the UATs.

While the UQDF message format release will include the new SIP Generated Update field as well as the LULD Indicator fields at both the market participant's BBO and the national BBO (NBBO) level, these fields will not be populated until the U.S. equity exchanges implement the Limit Up / Limit Down functionality, scheduled for February 4, 2013. UQDF subscribers should expect to receive spaces for these LULD-related fields. Testing for this release will only include the two new UTP Quotation message formats, Category Q - Type E and Category Q - Type F.

Where can I find the UTP market data technical interface specifications?

The new specification document is available on the UTP Technical Specifications page on the NASDAQ OMX Trader® website. For your convenience the individual specifications are provided below:

Where can I find additional information?

Contact NASDAQ OMX Global Data Products at +1 301 978 5307.