- Overview of OTCBB migration and weekend user testing
- Test registration and schedule
- To be completed by noon August 5th for August 7th test
- Testing scenarios
- Testing Conference call information
- NASDAQ test facility testing available
- Contact information
Overview of OTCBB Migration
As announced in Head Trader Alert #2004-096, NASDAQ is migrating its OTC Bulletin Board® (OTCBB) Quotation Service to a new internal system platform on August 23, 2004. This change will be transparent to NASDAQ Workstation II /Application programming interface (API) and computer-to-computer interface (CTCI) users. However, NASDAQ Workstation II users (both APIs and NASDAQ PD users) should test their systems to ensure that nothing has changed in their applications.
In association with the OTCBB platform change, NASDAQ will be migrating OTCBB quotation information to a new data feed product — The Bulletin Board Dissemination ServiceSM(BBDSSM). As outlined in Vendor Alert #2004-36, BBDS will disseminate real-time market participant quotations and associated inside quotations (when applicable) for OTCBB securities. After a brief parallel period, BBDS will replace the existing Level 1 ServiceSM for OTCBB quotation data. This new service does not affect NASDAQ Workstation II SDP or CTCI users. OTCBB quotes will remain as static only for NASDAQ Workstation II users.
Market Makers Urged to Participate in Weekend User Testing
Although there are no required system changes for most OTCBB market makers, NASDAQ will be conducting three weekend user tests to ensure a seamless transition between platforms and data feeds. NASDAQ urges all market makers to participate in at least one of these UATs. The first test was completed this past Saturday, July 31, 2004. The next test is scheduled for this Saturday, August 7, 2004, and the final UAT test will take place on Saturday, August 14, 2004.
Test Registration: Sign up by 8/5 for 8/7 Test
NASDAQ will test the new OTCBB platform and BBDS data feeds on our production system on Saturday, August 7, 2004, from 9:30 a.m. to 1:00 p.m., Eastern Time (ET). To participate in the August 7th test, firms must register one of the following ways by 12 p.m., ET, on Thursday, August 5th:
- Go to the secure online registration system. Information on how to sign up for the online registration service can be found at the How to Subscribe page. Before you can use the online registration area, you will need to:
- Obtain a user ID/password, and
- Download a digital certificate.
- E-mail your information to email@example.com.
- Fax a completed registration form, available on NASDAQtrader.com to 203.385.6567. Or,
- Contact the Testing Center at 800.288.3783.
When registering for the test, please provide a contact name and phone number for the day of the test.
The following NASDAQ departments will be available for testing support on
Saturday, August 7, 2004:
-NASDAQ Trading Operations: 800.219.4861
-NASDAQ Technical Help Desk: 800.243.4284
- If necessary, firms can contact NASDAQ Trading Operations at 800.219.4861 to register in specific securities or ask functionality questions.
- Firms can also contact the NASDAQ Technical Help Desk at 800.243.4284 if they are experiencing set-up issues or need to check their configuration.
It is important that firms test all the functionality they use during the trading day. Specifically, firms should be able to:
- Register to quote in a security
- Withdraw a quote in a security
- Update a quote (on upticks/downticks, unsolicited quotes, 1-sided quotes, unpriced quotes, etc.)
Open Conference Call for Saturday Test
NASDAQ will host an open conference call during the Saturday OTCBB test from 9:00 a.m. to 1:00 p.m., ET. The conference call information is as follows:
Dial in: 800.621.8583
PC: OTCBB Test
Additional Testing Available in the NASDAQ Test Facility
In addition to the weekend user tests, all OTCBB functionality is currently available for testing in the NASDAQ Test Facility. BBDS testing will be free of charge.
For more information regarding Saturday testing or free testing in the NASDAQ Test Facility, please contact:
If you have any questions regarding BBDS or Level 1, please contact:
For all other questions, please contact:
Your NASDAQ account manager,
NASDAQ Market Sales at 800.846.0477 or firstname.lastname@example.org,
Stacie Swanstrom, OTC Bulletin Board, at 301.978.8101.
The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information in over-the-counter (OTC) equity securities. An OTC equity security generally is any equity that is not listed or traded on NASDAQ or a national securities exchange. OTCBB securities include national, regional, and foreign equity issues, warrants, units, ADRs, and Direct Participation Programs (DPPs).
NASDAQ is the world’s largest electronic stock market. With approximately 3,300 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology industries. NASDAQ is the primary market for trading NASDAQ listed stocks. Approximately 51% of NASDAQ-listed shares traded are reported to NASDAQ systems. For more information about NASDAQ, visit the NASDAQ Web site at www.NASDAQtrader.com.