Personal Finance & Money Asked on January 28, 2021
I was looking at the list of NASDAQ market participants: ftp://ftp.nasdaqtrader.com/symboldirectory/mpidlist.txt
From Symbol Look-Up/Directory Data Fields & Definitions, section "Market Participants":
There are several types of NASDAQ participants. Listed below are the characters used with its corresponding market participant type.
A = Agency Quote
C = Electronic Communications Network (ECN)
E = Exchange
M = Market Maker
N = Miscellaneous
O = Order Entry Firm
P = NASDAQ Participant
Q = Query Only Firm
S = Specialist
I don’t understand these market participant types.
An MPID is a four character identify used on FINRA regulated trading platforms to identify the market participant. The participant does not necessarily have to be trading on NASDAQ to have an MPID but they need to have an MPID to be a participant on NASDAQ and meet certain regulatory obligations (e.g. OATS reporting). The MPID may be shown alongside "Level 3" price quotes in NASDAQ's market data feed (for participants who want this information to be known).
The Participant Type is likely to be determined after the participant filed the form when they applied for an MPID and generally state the regulatory capacity under which the MPID is being used.
To answer your question above, my guesses are as follows:
Ultimately the list is maintained and controlled by FINRA and subject to their rules. If you need to know for sure, you can ask FINRA.
However, I do not think this information would provide any additional alpha.
Answered by xirt on January 28, 2021
Get help from others!
Recent Questions
Recent Answers
© 2024 TransWikia.com. All rights reserved. Sites we Love: PCI Database, UKBizDB, Menu Kuliner, Sharing RPP