Post by icemandios on May 2, 2024 15:41:12 GMT
Our Big Guy has traded 1365 of 2794 today, as of 1134. BG uses the "Market ID" NDD. Nobody else uses NDD, and now I know why and who BG is.
From FINRA:
Alternative Display Facility (ADF) which appears as NDD on Time & Sales.
The Alternative Display Facility (ADF) is an SRO[Self Regulatory Organization] display only facility that is operated by FINRA. The ADF provides members with a facility for the display of quotations, the reporting of trades, and the comparison of trades. The ADF best bid and offer and trade reports are included in the consolidated data stream for Nasdaq and CQS listed securities.
As an SRO display only facility, the ADF does not provide automated order routing functionality, execution facilities, or linkages between ADF trading centers. ADF trading centers are required by FINRA rule to provide direct electronic access to all other ADF trading centers and provide such access to all FINRA members that request it. All FINRA members in good standing are eligible to participate in the ADF, pending execution of appropriate contracts and meeting specific requirements as set forth by FINRA.
As an SRO display only facility, the ADF does not provide automated order routing functionality, execution facilities, or linkages between ADF trading centers. ADF trading centers are required by FINRA rule to provide direct electronic access to all other ADF trading centers and provide such access to all FINRA members that request it. All FINRA members in good standing are eligible to participate in the ADF, pending execution of appropriate contracts and meeting specific requirements as set forth by FINRA.
JPM is the one and only participant that is actively using NDD.
Active ADF Participants
Trade Reporting Only (TRO)
JP Morgan Securities, LLC (11/13/2017)
MPIDs: JPMS, JPMX & JPBX
Trade Reporting Only (TRO)
JP Morgan Securities, LLC (11/13/2017)
MPIDs: JPMS, JPMX & JPBX
Inactive ADF Participants
Instinet
Track Data Securities Corp (7/16/07)
TRAC, DATA
Direct Edge
EDGA in Nasdaq Listed Issues (5/15/09)
EDGX in Nasdaq Listed Issues (6/1/09)
EDGX in CQS Listed Issues (7/1/09)
EDGA in CQS Listed Issues (7/1/09)
LavaFlow (2/2/15)
Luminex (11/16/20)
Jane Street (11/16/21)
MPIDs: JSCA & JSEB
Instinet
Track Data Securities Corp (7/16/07)
TRAC, DATA
Direct Edge
EDGA in Nasdaq Listed Issues (5/15/09)
EDGX in Nasdaq Listed Issues (6/1/09)
EDGX in CQS Listed Issues (7/1/09)
EDGA in CQS Listed Issues (7/1/09)
LavaFlow (2/2/15)
Luminex (11/16/20)
Jane Street (11/16/21)
MPIDs: JSCA & JSEB
And, of course, JPM was instrumental in the 2029 Convertible delight.