2025-10-09
As previously announced, Nasdaq Nordic and Baltic will migrate the trading of fixed income cash and derivatives, currently on the Genium INET platform, to the new Fusion FI platform on October 13, 2025.
Production Launch Weekend
On Saturday, October 11, all Fixed Income Cash and Derivatives members are expected to redirect their Production trading connections from Genium INET Production to Fusion FI Production. Please note that no changes are required for Genium Consolidated Feed (GCF) Production connections; the connectivity details will remain the same as today and the source system change from Genium INET to Fusion FI will be managed by Nasdaq.
Special note on activities during the launch Saturday:
-
Mandatory Member Logon Verification is expected to start earlier than previously communicated, around 13:00 CEST. The exact start time will be announced via IT-Notice and direct e-mail to registered launch contacts as soon as the login verification becomes available. During this activity, please verify logon with all Fusion FI Production FIX order entry/trade reporting ports that you are expecting to use from Monday, October 13.
-
Trading application Login Verification report should be sent via e-mail to technicalrelations@nasdaq.com as soon as possible (at 16:00 CEST at the latest).
-
Reference/Market Data from GCF and FDS (Fusion FI source) is estimated to become available at 14:00 CEST. An IT Notice will be sent out when GCF is available.
-
GCF login verification confirmation should be sent via e-mail to dataeurope@nasdaq.com as soon as possible.
Estimated time schedule
| Date | Time CEST | Event |
Nasdaq action
|
Member action
|
|
Friday |
16:00 |
“Go” or
“No-Go” decision |
IT Notice sent | Follow instructions specified in IT Notice |
| Post Trading session | Nasdaq to flush Fixed Income orders books (Genium INET Production) | All GTD and GTC orders are canceled during Post Trading session | ||
| SaturdayOct 11 | 12:30-17:00 |
EMO and MAC teams available for support |
See contact details below | |
|
12:30*-16:00
|
Instrument Reference Data ITCH/ITCH Re-request/GLIMPSE (Fusion FI) |
Message Type: “Fixed Income – Directory" sent
*As soon as transition is ready but not before 12:30 CEST |
Verification of ITCH feed possible | |
| 13:00*-16:00 |
Fusion FI Production available Mandatory Logon Verification (Fusion FI) |
*IT Notice and direct e-mail sent when login is available |
Verify logon with all FIX order entry/ trade reporting ports (Not required for Nasdaq Rates Trader users) |
|
| 14:00-16:00 | Reference/Market Data - GCF and FDS (Fusion FI source) | Reference/Market Data feed/files available |
Verify that feed/files are received at logon. GCF users to send confirmation e-mail to dataeurope@nasdaq.com |
|
| ASAP or 16:00 at the latest | Deadline to send Member Logon Verification Report |
Members to send Verification report via e-mail to technicalrelations@nasdaq.com
Described below |
||
| 16:00-21:00 | “Go” or “No Go (Rollback)” Decision | IT Notice sent |
In case of “No Go (Rollback)”, please see “Rollback scenarios” below |
|
|
Sunday Oct 12
|
00:00-24:00 | Fusion FI & Market Data not available to members |
Fusion FI Production not available to members
|
|
| 05:00-23:00 | Genium INET Clearing available for logon |
Genium INET Clearing available to members as normal
|
||
|
Monday Oct 13 |
04:30
At the earliest |
Fusion FI available for logon |
Fusion FI Trading available to members
|
Trading customers can logon to Fusion FI Production |
|
03:30 At the earliest
05:30 At the latest |
Instrument Reference Data ITCH/ITCH Re-request/GLIMPSE (Fusion FI) | Instrument reference data available via ITCH/ITCH Re-Request/GLIMPSE | ||
|
06:00
At the earliest |
Reference/Market Data - GCF (Fusion FI source)
|
Instrument Reference/Market data available via GCF and via FDS basic data file |
||
|
05:00
At the earliest |
Genium INET Clearing available for members to logon
|
Genium INET Clearing available to members
|
||
|
06:30
|
Nasdaq Rates Trader available from 06:30
|
Nasdaq Rates Trader users able to login from 06:30 and see reference and market data from 07:00 | ||
| 07:00 | EMO and MAC teams available for support | See contact details below |
Please verify that everything looks as intended and contact Nasdaq support if you see any issues
|
|
| Fusion FI Production with Regular trading hours |
Verification Report Saturday October 11
Logon verification: Please logon with your trading applications during 13:00 – 16:00 CEST.
After completed successful logon test, send the below information as soon as possible to technicalrelations@nasdaq.com (no later than 16:00 CEST).
Member Logon Verification Report E-mail should include:
Member Firm (relevant MPID´s): ____________________________________
Login test successful (Yes/No): ______________________________________
If No, what are your mitigation actions to be ready on Monday October 13: _______________________________________________________________
Rollback scenarios
Below scenarios describe the course of action in case a rollback is needed:
| Rollback scenario | Date & Time CEST | Communication | Nasdaq action | Member action |
|
Scenario 1 “No-Go Friday” |
Friday Oct 10 16:00 |
A “No Go” decision is taken and communicated via IT Notice on Friday at 16:00 | Migration to Fusion FI will not be initiated by Nasdaq on Friday October 10 | Members should not migrate to Fusion FI |
|
Friday Oct 10 |
Orderbooks are not flushed | |||
|
Monday
Oct 13 |
Fixed Income trading will start regular hours, on the Genium INET Platform, Monday October 13 | Fixed Income trading will start regular hours, on the Genium INET Platform, Monday October 13 | ||
|
Scenario 2
|
Saturday
Oct 11 16:00-21:00 |
A “No Go” decision is taken and communicated via IT Notice on Saturday
16:00-21:00 |
Nasdaq rollback to Genium INET is initiated. All systems are rolled back to a state before the upgrade. Flushed orders are not recovered. |
Rollback should be initiated by all members to a state before the upgrade |
|
Sunday
Oct 12 |
Nasdaq rollback to Genium INET is finalized | |||
|
Sunday
Oct 12 ordinary hours |
Ordinary Genium INET access (including reports).
Market Data from Genium INET available.
Market data is available from
GCF (reference data only), OMnet |
Members able to access Market Data from Genium INET. Market data available from: GCF (reference data only), OMnet (To be confirmed via IT notice) |
||
|
Monday
Oct 13 |
Normal Trading Hours |
Trading will start regular hours, on the Genium INET Platform, Monday October 13.
Flushed orders are not recovered |
Members are expected to be ready with the rollback and be able to start trading, regular hours, on the Genium INET platform Monday October 13. | |
|
Scenario 3 “Post first trade” |
Monday Oct 13 or later |
A detailed plan for “Scenario 3” will be communicated if initiated |
Genium INET Ports and Users
All Fixed Income Cash users and FIX ports (including FIX Drop Copy) in Genium INET will be removed by Nasdaq in conjunction with Fusion FI go-live.
All Fixed Income Derivatives Trading users in Genium INET will be deactivated by Nasdaq in conjunction with Fusion FI go-live. Other user types will remain.
FIX ports for Fixed Income Derivatives will not be removed by Nasdaq since they can be used for back-office purposes.
Trading Workstation will be shut down and replaced by Nasdaq Rates Trader.
Members are advised to review their inventory in the Member Portal and cancel any unused ports.
Mandatory Port to Application Mapping
By October 13, all Fusion FI Production FIX Order/Tradereporting ports must be mapped to the trading application used with the FIX port in question. This is a mandatory requirement for all production ports. The mapping is done in the Member Portal – “Technical Access” by clicking the port and choosing "Provider" and "Application" under “Map to connected application”.
Members using vendor applications can reach out to their vendor for information on application name and version to be used. Note that some applications may currently show status PENDING but that will not prevent the mapping.
Further information
Information on the migration to the new trading system is available on the web page below. The site will be continuously updated.
https://www.nasdaq.com/solutions/nordic-fixed-income-trading-system
For technical and trading related questions, please contact:
Exchange Services
E-mail: EMO@nasdaq.com
Tel: +46 8 405 7700
For port request questions, please contact:
Member & Account Configuration
E-mail: MAC@nasdaq.com
For questions regarding this IT-Notice, please contact:
Anders Bergström
E-mail: anders.bergstrom@nasdaq.com
Tel: +46 8 405 7364