IT – Genium INET – Order Record Keeping update

As previously communicated, under MiFID II Article 25 and RTS 24, a trading venue has to keep a database of all order records, quotes, session changes, and changes to the indicative prices and volumes during auctions. Nasdaq will support short codes on selected order entry fields for the Equity, Equity Derivatives, Commodities and Fixed Income markets to prevent sensitive full text data to be submitted on orders. Mapping of short codes to long codes will be done via Nasdaq Member Portal; either through REST API, SFTP file upload, or manually through the Member Portal GUI. For a summary of the technical solution and a high level time plan for the roll-out please consult the Nasdaq Order Record Keeping Guide , available on the Nasdaq Genium INET Technical Information website under Genium INET MiFID II 5.0.0201 .

Testing of SFTP

Since October 5, customers have been able to test the real-time reconciliation functionality in Member Portal ORK Test , a test environment of the Member Portal dedicated specifically for Order Record Keeping (ORK) and connected the Genium INET EXT4 and INET M2 test environments. This functionality allows customers to identify if long code values have been provided for all short codes used on order entry.

So far, it has been possible to use the REST API and to manually upload CSV files or to register or edit identifiers directly in the portal GUI. As of today, testing of SFTP is also available for Members and ISVs in Member Portal ORK Test . With an SFTP account, customers will now be able to register or edit identifiers by file upload. SFTP access is requested directly in the Member Portal ORK Test GUI in which it will also be possible to view the results of file processing. To facilitate testing, a guide for accessing the SFTP service has been published on the Nasdaq Genium INET Technical Information website under Genium INET MiFID II 5.0.0201 , along with the CSV File Format Specification. The SFTP Guide includes connectivity details.

End-of-day Reconciliation

Following the activation of the SFTP service, Nasdaq will shortly enable the end-of-day reconciliation process in Member Portal ORK Test. When activated, it will also be possible to retrieve the daily file of missing mappings through SFTP. Please be advised that daily email notifications will then be distributed to all portal users with short code permissions. One email per participant and day will be sent at approx. 14.00 CET. (Please note that the corresponding Production email, once activated, will be distributed at a later time in the day). The email will contain information on the number of short codes, if any, for which a valid mapping is currently missing. As the mail is produced for testing purposes, no action is required by the Member. If a user does not wish to receive this email the Portal Notification Email registered under User Details in the Member Portal should be removed. (Note: This will disable all email notifications from the portal.)

Access to Member Portal ORK Test

All Member Administrator user accounts in the Production version of Member Portal have been copied to Member Portal ORK Test and have been assigned randomized passwords. Member Administrators who have not yet accessed the test environment are therefore advised to visit https://memberportal-ext-test.nasdaq.com and click on the link “Forgot Password?”. It will then be possible to request a reset of the password via email. Once logged in to Member Portal ORK Test, administrators will be able to create more GUI user accounts for their firm, or to request SFTP access. (If REST API user accounts are needed, these can be requested by submitting a regular request through the Production version of Member Portal.)

For further information and feedback concerning this information, please contact

Trading Operations tradingoperations@nasdaq.com +46 8 405 7360

For technical questions, please contact Technical Support technicalsupport@nasdaq.com +46 8 405 6750