Head Trader Alert #2001-115 - July 24, 2001
DELL, ORCL, SUNW to be Phased Into SuperSoes on July 26, 2001
(Alert #2001-115)
Summary
DELL, ORCL, SUNW Securities to be Phased Into SuperSoes on Thursday, July 26, 2001; TESTA Only Test Security
SuperSoes Reserve Management Information
Nasdaq Help Desks and Questions
DELL, ORCL, SUNW Securities to be Phased Into SuperSoes on Thursday, July 26, 2001
In response to numerous member firm requests, Nasdaq® will phase-in three additional Nasdaq National Market® (NNM) securities—DELL, ORCL, and SUNW—into the SuperSoesSM trading system on Thursday, July 26, 2001. Please note that this is an additional phase-in (not previously announced).
By including these issues, members will be able to participate in trading high-volume issues in the SuperSoes environment. These securities will be identified as SuperSoes-eligible by a "##" following the Security Name on Nasdaq Workstation II® (NWIITM) and application programming interface (API).
As of July 26, 2001, there will be 103 NNM securities and one test security in SuperSoes. As notified in Head Trader Alert #2001-113, TESTA will continue be the only test security in SuperSoes.
SuperSoes Reserve Management Information
The following information will apply on the first day of each of the remaining two implementation stages - July 26 and July 30, 2001.
On Thursday, July 26, 2001, please be aware of the following important information concerning the management of your Reserve [Exposure] size:
On July 26, 2001, Nasdaq will set Reserve size to zero for all firms that make markets in the 104 pilot securities. This action will "zero out" firms' Start-of-Day (SOD) reserve settings and any reserve settings left from Wednesday, July 25, 2001.
This zero Reserve setting excludes firms that have a .ALL SOD reserve setting. Nasdaq has contacted firms that have the .ALL setting and encouraged them to change their reserve settings.
Please note that the settings of 999,998 and 999,999 in the SOD Reserve field will represent that actual number of shares. Formerly, 999,999 was representative of an unlimited Reserve size and 999,998 represented the NO DEC feature. If your firm chooses a setting of 999,999 or 999,998, it will represent your actual Reserve size.
Firms are reminded to check their Reserve settings for all pilot stocks in which they make markets prior to market open on July 26, 2001. |
