⚖️Nasdaq BX Introduces CORE FIX Order Entry Protocol Enhancements
Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Add the CORE FIX Order Entry Protocol and To Amend Nasdaq BX Equity 4, Rules 4120, 4702, 4703, and 4757
Summary
The Nasdaq BX is proposing a rule change to introduce the CORE FIX Order Entry Protocol, enhancing order processing efficiency and aligning existing rules with advanced handling capabilities. This will streamline order submissions for participants, offering improved performance while ensuring compliance with the regulatory framework. The implementation is expected to simplify trading for users not needing routing functionalities.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change introduces the CORE FIX Order Entry Protocol, enhancing order handling capabilities which can significantly improve execution speed and operational efficiency for businesses. This change necessitates compliance for participants using the exchange, impacting trading strategies and potential performance metrics.