|
Situation |
Impacts |
Response |
|
CHX cannot send quotes to the SIP |
During Trading Hours: CHX cannot fulfill quoting obligations to National Market System. If problems involve QRS not able to connect to the SIP, CHX will
also: - not be fulfilling trade reporting obligations, - not be fulfilling clearing obligations, and - not be updating Bookfeed. |
1) Confirm scope of impacts. Are problems specific to: - SIAC and/or NASDAQ - CH2 and/or NY4 - Servers? Processes? Channels? 2) Notify management. 3) If problems are not immediately resolved, zero affected quotes if not already marked “manual” by CMA. - use NTM Control QRS by ME commands, or - Ask SIP to zero quotes as they are able. 4) Consider suspending trading (if issues not resolved in 5 minutes). - Use NTM Control ME commands. 5) Consider QRS BFS Bypass. - Use NTM Control QRS commands. 6) At time of resolution, confirm the most recent affected quotes are sent to the SIP. - Either QRS will auto-regenerate quotes, or - Use NTM Control ME commands, if necessary. 7) Confirm any residual TRS, BFS and Clearing concerns are addressed. |
Scope of Impact Response Considerations:
1) If considering zeroing of quotes, consider doing so only for the affected ME instances.
2) If considering suspending trading, consider doing so only for the affected ME instances.
3) Only consider QRS BFS Bypass if SIP connectivity is lost, and trade reporting and/or clearing becomes a concern during outage.
4) If QRS-to-SIP connectivity was lost as part of the issue, upon reconnection to the SIP, the QRS process will request any queued quotes from the UME data store and send these to the database loaders only (not the SIP), and then request the most recent stock quotes from all connected ME instances and send these to the SIP. All quotes, trades, clearing and bookfeed should be up to date at that time.