19 Mar 2025
📈Nasdaq Proposes CORE FIX Protocol
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Equity 4, Rules 4120, 4702 4703, and 4757
Summary
The SEC has announced the immediate effectiveness of Nasdaq's proposed rule change to introduce a new order entry protocol named "CORE FIX." This protocol caters to users of FIX who currently do not utilize its routing capabilities, aiming to streamline order handling and improve order latency without making substantive rule changes.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change introduces a new order entry protocol (“CORE FIX”) that streamlines order handling and improves latency for users, which can enhance operational efficiency for businesses utilizing Nasdaq for trading. This has implications for businesses in terms of technology integration and trading strategies.