ITCH Unicast (TCP) and ITCH Multicast (UDP) are two Nasdaq Market Data Feed services on the INET Nordic (Cash Equity trading platform). Please visit https://www.nasdaq.com/solutions/inet-nordic-protocol-specifications for further information about these services together with other technical information.
Data Volume Increase
Nasdaq Nordics anticipate a significant increase in the volume of data transmitted through our market data ITCH-feeds from the INET Cash Equity platform starting in late fall of 2025. There is considerable interest from both current and prospective market makers in enhancing their market-making activities, resulting in a major increase in quotes mainly within the Warrant and Certificate market.
To accommodate this growth, we need to ensure that the infrastructure between the Exchange and our Clients is adequately prepared, which includes reassessing the bandwidth currently recommended to be allocated to the market data feeds.
Additionally, we must ensure all clients have the possibility to verify any anticipated growth and the capacity of Client gateways and other software that will handle and process the increased data load. We are planning to conduct load tests to simulate potential scenarios in August 2025.
Nasdaq’s long-term plans include a migration from Unicast (TCP) and Multicast (UDP) to Multicast only feeds for the Warrant and Certificate market. As this will be a mandatory shift in our services, you will be informed well in advance when that migration project starts.
We are also investigating the possibility to further filter our ITCH feeds in the future, based on geographical markets or asset classes.
Please reach out to us if you want to discuss future enhancements and be a part of our development of future services.
New bandwidth recommendation
Short term we would like you to assess your current bandwidth allocation to our ITCH services. The current recommendation ranges for ITCH services are between 15-20 mbit/s per feed, and we are anticipating a significant increase moving forward. We have not yet set the new bandwidth specifications, but we recommend you have a margin for twice the current flow. Please see the current bandwidth recommendation document (soon to be updated) at https://www.nasdaq.com/solutions/european-market-connectivity
Load tests
New load patterns for a higher sustained loads and possible bursts, we will update our current load tests performed in our NTF test environment starting in early fall. Please reach out to your current exchange software providers to make sure you take part in these tests, if needed.
Updates for the tests will be provided via IT Notices. Please ensure that you have signed up for the relevant IT Information channels on our Subscription service page to receive the latest information.
Please visit our production and test environment website for latest updates on this project: https://www.nasdaq.com/solutions/inet-nordic-environments
Contact
For user/account related questions, please contact:
Member & Account Configuration
MAC@nasdaq.com
For technical questions, please contact:
Exchange Services
EMO@nasdaq.com
+46 8 405 7700
For project related information, please contact:
Technical Relations
Per Fröling
Best regards,
Nasdaq Nordic, Nasdaq Baltic, Nasdaq Clearing AB and Nasdaq CSD SE