KURSSIT JA MARKKINAT / UUTISET
IT – INET Nordic and Baltic – Update: Improved Cancel On Disconnect Service (COD) (05/20)
24.01.2020 klo 16:26 IT – INET Nordic and Baltic – Update: Improved Cancel On Disconnect Service (COD) (05/20)
Update: new launch date for the COD service enhancements. Please find the revised time schedule further down in the notice. As previously communicated in IT Notice 53/19,Nasdaq Nordic and Baltic will introduce enhancements to the Cancel On Disconnect (COD) service. The improvements are already available for testing. The introduction date in INET production is March 2, 2020. Background The Cancel On Disconnect (COD) is a subscription based service that monitors the loss of connections between the Member and the INET Nordic trading system (Host). If a lost connection is detected by the Host, the COD service cancels all resting Orders for the disconnected connector. If the Host is suffering from a severe failure, Nasdaq Nordic and Baltic have to manually cancel active Orders in the book. What’s new? Nasdaq Nordic and Nasdaq Baltic have decided to implement the COD service on OUCH and FIX account/port level also in the event of a severe failure on the Host side. Active orders will be cancelled automaticaly if COD is enabled according to the configuration option chosen. In addition to the current COD configuration options, a number of new configuration options are added to the COD service for more flexibility during a disconnect event. If COD is enabled today, all active orders except GTC orders on FIX and all orders on OUCH are cancelled. Updated COD options: OUCH: -- Cancel On Disconnect disabled (Default) -- Cancelled On Disconnect enabled: -- Cancel all – Default if COD is enabled in OUCH (as today) -- Keep Cross type orders only (New) FIX: -- Cancel On Disconnect disabled (Default) -- Cancelled On Disconnect enabled: -- Keep GTC – Default if COD is enabled in FIX (as today) -- Keep Cross type orders only (New) -- Keep GTC and Cross orders (New) -- Cancel all (New) Want to change my COD configuration Customers existing COD configuration will remain, no action needed by market participants. As of 2nd of March customers that want to change their COD configuration shall use the INET Nordic Port Change/Removal request form in Nasdaq Member Portal. Market Model Changes will be reflected in an updated version of the INET Nordic Market Model, which will be published on Rules and Regulations - Nordic Member Rules. Protocol specifications There are no changes to the INET protocol specifications due to this change. Latest INET protocol specifications are available at the Nasdaq Nordic Technical Information website, under INET Nordic Protocol Specifications. Time schedule -- INET Test (NTF) – currently available -- INET Production – March 2, 2020 Questions and feedback For further information and feedback concerning this information, please contact: Ronny Thellman Tel: +46 8 405 6313 E-mail: firstname.lastname@example.org Support For technical questions, please contact: Nasdaq Cash Equity Operations: Tel: +46 8 405 6410 E-mail: email@example.com Best regards, Nasdaq Nordic and Nasdaq Baltic Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn and Nasdaq Vilnius are respectively brand names for Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd, Nasdaq Iceland hf., Nasdaq Riga AS, Nasdaq Stockholm AB, Nasdaq Tallinn AS and AB Nasdaq Vilnius. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Baltic represents the common offering by Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius.