Tuesday, September 27, 2022

Equity Trader Alert #2022 - 87
Nasdaq BX Introduces Fully Non-Display Option for RPI Orders

Category:

  • New Functionality

Markets Impacted:

Contact Information:

Resources:

Nasdaq BX will introduce a new fully non-display option for RPI orders, providing firms the ability to opt out of displaying a price improvement indicator on the data feed for their orders in the Retail Price Improvement (RPI) program.

For qualifying orders, the RPI order adding liquidity will receive a new liquidity code. To receive the new code, a new Display Type has been introduced and will be required on the order entry message.

Please refer to the Equity Technical Update for further details.

The new functionality will be introduced between the end of October and early November 2022 (exact timing to be announced at a later date).


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