The Icelandic fixed income market will migrate from INET to Genium INET on 20th May 2019., which is the MiFID II compliant system for non-equity products. The migration to Genium INET will be done in preparation of the implementation of MiFID II in Iceland.
The migration will cause changes in the market model for instruments thus that are managed by GENIUM INET hence there will be changes in the Kodiak OMS system.
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- Now each firm that is already a member of Nasdaq Iceland INET market will get a new MPID. Thus each member of the exchange will have one MPID for the INET exchange and one for the Genium INET exchange.
- The Genium INET MPID's will have 'IS' prefix to their current MPID's on the INET markets.
Brokers and market gateways
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- Pegged orders are not available in Genium INET
- Nordic@Mid is not available in Genium INET
- Clearing account and firm is not available in Genium INET
- Display range in reserve orders not available in Genium INET.
- TIF: GTT (Good Till Time) not available, GTD (Good till date) is available in Genium INET
- Order Types: Market, Limit, Market to Limit
- Order capacities are the same
- Self Trade Prevention (Self Match Prevention) is not implemented by Nasdaq in Genium INET. Kodiak OMS sends the correct fields to the exchange when Nasdaq implements the Self Match Prevention it will be available in Kodiak OMS. Please note that the Genium INET exchange accepts the self match prevention but it is a number (0-255), if you want to use the same settings for INET and Genium INET we advise you to use a digit in the STP field.
Order Type Support, more on Market Order Types and Attributes
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