Markets Impacted: Nasdaq Nordic Derivatives markets
Products Impacted: Nasdaq Nordic Derivatives products
What you need to know:
This is a kind reminder of the GCF upgrade to TIP version 3.3.0 to be launched on November 21, 2016. Previous release notice was published 2016-09-06 . Updated version of the TIP specification for GCF release 3.3.0 is available via GCF web page .
What is changing?
Circuit Breakers
Nasdaq will introduce Circuit Breakers for index- and single stock- derivatives in trading system Genium INET, and the following new order book states will therefore be introduced in GCF:
- Volatility Auction
- Opening Auction Extension
- Closing Auction Extension
- Trading Pause Static
- Trading Pause Dynamic
Volatility Auction, Opening Auction Extension and Closing Auction Extension will be used for index derivatives market, and Trading Pause Static and Trading Pause Dynamic will be for single stock derivatives.
Stressed Markets
Nasdaq will also introduce a stressed market condition for the derivatives market. GCF will introduce a new MarketIndicator -TIP-message on instrument level to flag this new market condition.
The MarketIndicator TIP- message in TIP 3.3.0.
MarketIndicator
This message carries information about different market conditions.
Message type: MIu
| Field name | Key | Tag | Type | Length | Description |
| IdCode | TK | I | Id | 9 | This id refer to a tradable. See chapter 1.6 for a general description of IdCode. |
| SourceSystem | TK | S | Id | 2 | This id refers to a source system. |
| TimeExec | T | Time | 10 | Time, execution time. | |
| StressedMarket | STm | YesNo | 1 | Indicates a stressed market condition. |
Testing For testing details please see the IT notices:
Where can I find additional information?
For questions regarding this notice please contact: DataProducts@nasdaq.com .