NASDAQ OMX EU Gateway

7.18.26.2

Released: Dec 29, 2017 File Size: 0
Package Contents:
No notes available.

Important Notes

Nasdaq OMX EU Gateway 7.18.26 is released to resolve issues encountered in the field as well as to enhance support for MiFID II.

Why Should I Upgrade?

Nasdaq OMX EU Gateway 7.18.26 supports MiFID II Compliance. For details on Customer Defaults and Algo Defaults as well as MiFID related updates, please refer to X_TRADER® Support for MiFID II.

This release also introduces support for Duplicate Order Check functionality, which may be enabled via TT User Setup. When enabled, This check triggers an order rejection for an order with the same instrument and price as another order submitted on the same account/account group that has exceeded the configurable threshold of duplicate orders allowed over a rolling window of 1 second. Additional details on this functionality may be found Here.

System Requirements

Nasdaq OMX EU Gateway 7.18.26 supports MiFID II Compliance. For details on Customer Defaults and Algo Defaults as well as MiFID related updates, please refer to X_TRADER® Support for MiFID II.

This release also introduces support for Duplicate Order Check functionality, which may be enabled via TT User Setup. When enabled, This check triggers an order rejection for an order with the same instrument and price as another order submitted on the same account/account group that has exceeded the configurable threshold of duplicate orders allowed over a rolling window of 1 second. Additional details on this functionality may be found Here.

Installation Notes

Values required when submitting orders to Nasdaq for MiFID II compliance may now be set in Customer Defaults using X_TRADER® 7.17.80 and TT User Setup 7.17.84 or higher. For details on configuring the appropriate values in Customer Defaults, please refer to X_TRADER® Support for MiFID II.

Full details on required fields by exchange may be found here.

IMPORTANT NOTE: Because many customers will not yet have client applications upgraded to support configuration of the MiFID II fields, we have implemented a parameter which will send default values for these required tags. To turn this feature on, the following section and parameter should be added to the nasdaq_omx_eu*flavor*hostinfo.cfg:
[Server_Settings]
UseDefaultMiFID=1

Note that this parameter should be removed prior to start of trading on January 3 so that MiFID II values configured by the customer will be sent.

When the UseDefaultMIFID parameter is set to 1, the following values will be submitted on orders:
Trading Capacity = AOTC
Investment Decision ID = 0000000004
Execution Decision ID = 0000000004
Client ID = 0000000004

ACTION REQUIRED: Per the exchange, the new Trader ID value will become a mandatory field on all order entries and on-exchange trade reports on November 20. This value cannot be defaulted because it must be registered with the exchange. Trader ID must be configured in the Exchange 1 field in TT User Setup by November 20. For customers running X_TRADER® 7.17.80 and higher, this value may be overwritten via FFT4 in Customer Defaults as needed.

The field must be populated with a value issued by Nasdaq, therefore customers should ensure that these IDs are registered as appropriate.

Enhancements

  1. Order Server
    1. Added support for duplicate order rejection. User Setup administrators can now prevent more than a specified number of duplicate orders from being executed within a single rolling second, on a specified Gateway flavor. (Ref 234085)

    2. Enhanced the Order Server so that MiFID values submitted by the client on Change or Cancel/Replace orders will be more accurately reflected in the Execution Report when these values are not supported by the exchange for these order types (Ref 234312)

  2. Price Server
    1. Added support for new Market States which will become avaialble on January 3: REGHALT, REGHALT2 and NTHALT (Ref 234473)

Fixes

Known Issues