Markets Impacted: Nasdaq Nordic Derivatives markets
Products Impacted: Nasdaq Nordic Derivatives products
What you need to know:
This is a kind and last reminder of the GCF upgrade to TIP version 3.3.0 to be launched on November 21, 2016. Previous release notices: 2016-09-06 2016-11-11 Updated version of the TIP specification for GCF release 3.3.0 is available via GCF web page . During the launch weekend Nasdaq will publish a notice only if the launch is being cancelled . This will be informed via IT Notice by 14 CET on Saturday November 19 ,2016 - if required.
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. |
Obsolete data sources Nasdaq will remove obsolete data sources ICS_INDEX2 (IdCode 7) and ICS_FI (IdCode 12). Please see further details in IT Notice concerning the change.
Correction to NordicMidEligible error
The release will also contain correction on error related to “NordicMidEligible” (tag “NMe”) values in BasicDataShare (message type “BDSh”) messages. The values will be available after the launch when applicable. Where can I find additional information?
For questions regarding this notice please speak to your Sales Representative or contact DataProducts@nasdaq.com .
