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Canadian Equities

Nasdaq CXC & Nasdaq CX2 Migration Update

Overview

As announced in February 2016, Nasdaq completed its acquisition of Chi-X Canada ATS Limited, now Nasdaq CXC and Nasdaq CX2. We are committed to the Canadian marketplace and to adding value to the Canadian trading community, and to that end we introduced a new dark pool late last year.

In addition, we will migrate the Nasdaq CXC and Nasdaq CX2 platforms to INET technology in the first and second quarter of 2017. This technology alignment will provide an important foundation for future growth in Canada. After the migration, you will continue to have access to the marketplace features you have grown accustomed to, including all order types, a trade-through protection solution and matching functionality. There are no expected changes to our technical specifications..

Data Center Impact

As part of the re-platforming initiative, Nasdaq will move its Canadian technology footprint from the Equinix TR1 data center, located at 151 Front Street, to the Equinix TR2 location at 45 Parliament Street. Customers will have the option to connect via TR1 or from a new set of connectivity options we will make available from TR2. The move to TR2 will take place concurrently with the phases outlined in the Migration Plan below.

Nasdaq will also move its disaster recovery (DR) facility from Toronto to Chicago to provide more geographic diversity between the primary and secondary trading environments. In order to minimize impact to participants, Nasdaq will operate a connectivity hub or Point-of-Presence (PoP) hosted in the Toronto area. All subscribers will have the opportunity to either establish a direct connection to the CH4 Chicago data center or to establish a connection to the Nasdaq PoP, which will provide cost-effective access to the CH4 secondary site.

These efforts will take place in three phases as outlined in the table below.

PhasePlatformTarget Timing
Phase 1Nasdaq CXDComplete
Phase 2Nasdaq CX2
Chicago CH4 DR Availability
Complete
Phase 3Nasdaq CXC and Smart Order RouterQ2 2017

Testing will be made available to customers at least 60 days prior to launch. 

Milestone migration dates for Nasdaq CX2, Nasdaq CXC and the Smart Order Router (SOR). We have also included important Nasdaq CXC Connectivity dates in the table below:

MilestoneTarget Timing
Nasdaq CX2 Test Facility (NTF) AvailableJanuary 6, 2017
Order connectivity to the markets via the Colo & Connectivity Console startingJanuary 24, 2017
Nasdaq CX2 Production Weekend TestFebruary 11, 2017
February 25, 2017
March 4, 2017
Nasdaq CX2 ProductionMarch 6, 2017
Nasdaq CXC Test Facility (NTF) AvailableMarch 6, 2017
TR2 Connectivity LiveMarch 6, 2017
Nasdaq install fees waived on all migration orders received byMarch 31, 2017
Nasdaq CXC Production Weekend TestApril 22, 2017
April 29, 2017
May 6, 2017
Nasdaq CXC ProductionMay 8, 2017
Smart Order RouterQ2 2017
Monthly recurring fees on migration orders waived through
*While customer is still paying connectivity fees in TR1 or until TR1 connectivity is canceled
May 31, 2017
Equinix cross connect monthly recurring fees in TR2 waived throughMay 31, 2017
Clients will not be able to connect via Nasdaq in TR1 (151 Front Street, Toronto, ON, Canada)May 31, 2017

For more information, please contact your Key Account Manager

Recent Press Releases
Nasdaq to Acquire Chi-X Canada
Dec 8, 2015




Interested in trading Canadian equities with Nasdaq? Contact your dedicated Nasdaq Sales team.
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