IT - INET Nordic and Baltic - FIX and OUCH Order Entry and FIX DROP - Optional Retail Indicator (34/24)
Nasdaq Nordic and Baltic plans to implement an optional Retail Indicator on FIX and OUCH order entry and associated Drop copies. The indicator will be used to calculate certain Retail fee incentives.
Details
The Retail Indicator may be used by members to indicate that the order originates from a Retail customer who is not considered to be a “professional client” according to MiFID, or equivalent definition.
The Retail Indicator will be used by Nasdaq Nordic to calculate certain Retail fee incentives according to separate fee list notifications.
New FIX value
|
Tag |
Field |
Req |
Comments |
|
582 |
CustOrderCapacity |
N |
“5” = Order sent in by Retail customer, defined as order originating from clients who are not considered to be “professional clients” according to MiFID or equivalent definition. |
New OUCH value
|
Tag |
Name |
Size |
Value |
Notes |
|
29 |
Customer Order Capacity |
1 |
Alpha |
“5” = Order sent in by Retail customer, defined as order originating from clients who are not considered to be “professional clients” according to MiFID or equivalent definition. |
Protocol changes
Updated protocol specifications can be found at the Nasdaq Nordic Technical Information website, under INET Nordic Protocol Specifications.
Legal and Market Model
There will be changes to the INET Nordic Market Model based on this change. Latest version is published on Rules and Regulations for the Nordic Markets.
Time Schedule·
-
INET Test (NTF) – June 17
-
INET Production – September 2, 2024
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Support
For technical questions, please contact:
Nasdaq Cash Equity Operations
Tel: +46 8 405 6410
E-mail: operator@nasdaq.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.
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