Tuesday, April 07, 2020

Equity Trader Alert #2020 - 22
Nasdaq to Reduce the M-ELO Holding Period to 10ms


  • New Functionality

Markets Impacted:

Contact Information:


Pending SEC approval, effective May 11, 2020, Nasdaq will reduce the holding period for Midpoint Extended Life Orders (M-ELO) and M-ELO + Continuous Book orders to 10 milliseconds. Currently, M-ELOs must wait 500 milliseconds before becoming eligible to execute. By reducing the holding period, M-ELO will remain a purpose-built solution with one of the longest delay mechanisms in the industry, and enable clients to incorporate the order type across a broader set of opportunities.

Testing Opportunities

Testing is currently available in the Nasdaq Testing Facility (NTF). Production testing will be available during the May 2 User Acceptance Test (UAT).

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Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.