Reaches every broker dealer. Provides broader connectivity
Overview
NASDAQ Weblink ACES provides a facility where order flow can be routed to designated market makers with established ACES relationships. Weblink ACES is designed for small order-entry firms that do not require all of the features of the NASDAQ Workstation, but still want to automate their order routing process and have a direct connection to their market makers’ internal systems.
To learn more about additional functionality and trading capabilities, please visit the new NASDAQ Workstation page.
NASDAQ Introduces a Newly Improved ACES Interface
ACES is now available on the new NASDAQ Workstation in a much more user friendly version than on the NWII. Users can route orders, scan orders, or receive ACES messages in their Trade Manager window. Also Market Makers can now set up their routing relationships through the new Workstation.
Ability for Market Maker to set up routing relationships online.
Enhanced Order Scans.
Execution, order-release and order-reject alert messages.
Cancel and replacement of open orders.
An on-line average price calculation that combines partial and fill executions into a single price.
Time and Sales functionality.
Cost-free service for Order-Entry firms as the software is generally soft-dollared by the receiving market maker, and the transaction costs are also paid by the market maker.
Orders are entered into Weblink ACES and routed to market makers via an Internet connection. Market makers provide order-entry firms with access to their internal trading systems through ACES. This is done by market makers via the Utilities menu on the NASDAQ Workstation by NASDAQ Trading Operations at 800.219.4861.
ACES Destinations
Click here to view a list of current ACES destinations.
Hours of Operation
Weblink ACES operates from 8:00 a.m. through 6:30 p.m. ET, with the following exceptions:
Orders can be entered as early as 7:00 a.m.; however, orders entered between 7:00 and 8:00 a.m. will not be delivered until 8:00 a.m.
Weblink ACES accepts cancel orders after 6:30 p.m., but will not accept new or cancel/replace orders after that time.
There is no message delivery after 6:30 p.m.; therefore, no cancellation messages will be sent to either side until the next business day.
At 6:30 p.m., all day orders are auto-canceled in the ACES system.
WebLink ACES Screenshots
Click on the images below to see a larger version.
Weblink ACES is a voluntary order routing system available to any order-entry firm that is a NASDAQ market participant and has a market maker authorizing it to route orders via ACES.
NASDAQ market participants can subscribe for new connectivity or update an existing service by completing the NASDAQ Front-End Access Order Form (PDF) and fax it to NASDAQ Subscriber Services at 212.231.5426.
