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FINRA

 

FOR RELEASE:
CONTACT:
Monday, December 16, 2002
Michael Shokouhi 202-728-8304



 

NASD Announces FIX Availability for ADF

Washington, DC — NASD today announced that a Financial Information Exchange (FIX) translation capability for its Alternative Display Facility (ADF) is now available. The ADF was launched on July 29, 2002.

 

ADF allows registered NASD market makers and electronic communications networks (ECNs) to publish quotations for, and report trades in, Nasdaq securities. ADF requires participants to provide order routing and execution capabilities through private means.

 

ADF is now certified for quoting and order reporting using all FIX versions, including 4.0 through 4.3. Additionally, trade-reporting functionality will soon be added.

The FIX translation capability was developed by IBSN, Inc., a provider of integrated order-routing solutions.

 

"NASD has had requests from the industry for a FIX capability, and we are now happy to have one available," said Steven A. Joachim, Senior Vice President, Market Operations and Information Services for NASD. "We look forward to having more participants join the ADF with the availability of this facility."

 

Currently, the SEC has approved the ADF for only Nasdaq-listed securities. ADF rules for quotes and trade reporting for New York Stock Exchange and American Stock Exchange securities are still pending final approval by the SEC.

 

NASD is the leading private-sector provider of financial regulatory services, dedicated to bringing integrity to the markets and confidence to investors through effective and efficient regulation and complementary compliance and technology-based services. NASD touches virtually every aspect of the securities business - from registering and educating all industry participants, to examining securities firms, enforcing both NASD rules and the federal securities laws, and administering the largest dispute resolution forum for investors and member firms. For more information, please visit www.nasd.com.