Nasdaq GEMX Announces Plan for Re-platforming and Updating

Nasdaq GEMX, Nasdaq's platform designed to attract liquidity and offer price improvement opportunities, announced its plan for re-platforming with the goal to harmonize exchange technology positioning participants for future growth and success.

The new platform will bring about updates to the GEMX Market Data feeds. While all the current market data offerings will remain available, there will be adjustments to both the naming of these and the protocols.

The GEMX Top Quote Feed will have its name changed to the GEMX Top of Market Feed. Despite the name change, it will continue to be a book-based feed that delivers the Best Bid and Offer, and last sale information. Notably, the message formats of the feed will be updated to align with BX Options. Additionally, an optional Glimpse service will be introduced to provide a backup for the Top of Market Feed.

The GEMX Depth of Market Feed is set to be enhanced by offering full depth with order-by-order messages. However, it is important to note that firms receiving this product will have to rebuild their order books on their own. The revamped Depth of Market feed will share similar components to the recently updated BX Depth of Market Feed. Furthermore, an optional Glimpse service will also be accessible for the Depth of Market Feed.

The GEMX Order Feed will retain its function of presenting a snapshot of each order on the order book, including auction notifications, but with improved message formats.

The GEMX Trade Feed, on the other hand, will remain a platform for providing last trade information, opening price, cumulative volume, high and low prices for the day, as well as administrative and market event messages.

Once available, the updated IP addresses for Nasdaq GEMX Data Feeds will be announced on the UDP/IP Addresses - U.S. Derivatives Data Feeds page.

Heartbeat availability for connectivity testing will be updated when available for both:

New York Metro Area - "A" and "B" Feeds: Monday, August 7, 2023

Chicago Metro Area - "A" and "B" Feeds: Monday, August 7, 2023