|
Situation |
Impacts |
Response |
|
CHX cannot process quotes from the SIP |
During Trading Hours: At a matching engine level, CHX cannot adequately validate against locked markets, trade-throughs, or suspending trading. May be trading against stale BBO information. At a market data database loading level, post trading integrity checking may be compromised. |
1) Confirm scope of impacts. Are problems specific to: - SIAC and/or NASDAQ - CH2 and/or NY4 - Servers? Processes? Channels? - Matching Engine processing? - Market Data Database Loading? 2) Notify management. 3) Consider suspending trading (if issues not resolved in 5 minutes). - Use NTM Control ME commands. 4) At time of resolution, there will be no retransmission of lost market data to matching engines; Confirm market data is known by MEs. - Use Brokerplex market data queries. 5) After time of resolution, consider whether or not a reload of any missing data can be, and should be copied or replayed into the database for post trading integrity processing. |
Scope of Impact Response Considerations:
1) Inbound Market Data processing is configured such that there is dual redundancy supported, reading from the SIPs. If redundancy is not lost and market data is being delivered via at least one path, then there should be no operational impacts, other than a potential loss of market data in the market data database loading processing. (Lost data in market data database loading may not be fully realized until integrity reports are run.)
2) If complete market data delivery is lost, then if considering suspending trading, consider doing so only for the affected ME instances.
3) If market data was received by Market Data Processors, but not processed correctly by Market Data Database Loaders, then it is possible for this data to be replayed into the database; However, this is a complicated and time restrictive procedure.