Nasdaq Preps ITCH, FIX Feeds for NLX

Abstract

Nasdaq OMX's London-based NLX interest-rate derivatives platform is readying two new market data feeds based on the FIX and ITCH protocols, to provide participants with price data for euro- and sterling-denominated short- and long-term listed interest-rate derivatives contracts, which are scheduled to begin trading on the platform in the first quarter of next year. The FIX feed will publish data by price level using the FIX 5.0 format over TCP/IP, and is expected to introduce latency of only 1 millisecond at peak times, while the multicast ITCH feed will distribute market-by-order data at latency of between 100 and 150 microseconds.