Access and Q&A

Protocol specifications

Spotlight trading is supported through Nasdaq INET standard protocols. Existing INET protocols are used for all inbound and outbound messaging. The Nasdaq OUCH specification is updated with values in existing field for the XSAT MIC code and appropriate Market segment MIC codes, see Nasdaq Nordic Technical Information website. Reference data is available via GCF-TIP. 


Member access

Contact Nasdaq Member & Account Configuration, to get access to INET Nordic NTF.


Market Data access

Spotlight market data is included in INET ITCH TCP and multicast data feeds. Spotlight market segments is also available in filtered TotalView-ITCH TCP products: Nordic Equities and Stockholm Equities.

Spotlight data is added only on request to Genium Consolidated Feed (GCF) customer accounts. Reference data and end-of-day-files for XSAT are made available on Nasdaq File Delivery Service (FDS).

If a Nasdaq Nordic Equity market data customer requires Spotlight exchange to be added to one or more accounts in Genium Consolidated Feed (GCF) please contact:


Q: What agreements needs to be in place for a new trading member to get access to Spotlight?
A: A new member first needs to be a member on Nasdaq. Such member then needs to submit an application for membership to Spotlight, see page Become a trading member. When Spotlight has approved the application, access is opened by Nasdaq.


Q: Can a trading member use existing Nasdaq technical infrastructure to access Spotlight?
A: Yes, access to Spotlight is made available through existing Nasdaq technical infrastructure. Contact Nasdaq Member & Account Configuration,


Q: When will CCP be introduced?
A: CCP Will be introduced at end of 2024. We will communicate introduction of CCP in separate technical notices.


Q: Does Spotlight use the same Market Model as Nasdaq?
A: Spotlight´s market model is based on Nasdaq´s market model with a few exemptions. These exemptions are explained in the Spotlight Market Model document. See page Member documents.


Q: Does Spotlight have separate Member Rules?
A: Spotlight have separate Member Rules that are based on Nasdaq´s member rules. Spotlight´s member rules are a slimmer version since there are parts of Nasdaq´s member rules that are not relevant to Spotlight. There are no new or additional rules in Spotlight´s member rules compared to that of Nasdaq´s. Se page Member documents.


Q: ICB Classification?
A: There are no ICB Classification for Spotlight instruments.


Q: How can I subscribe for information from Spotlight?
A: Spotlight use Cision to communicate technical news and updates. See page Subscribe to Exchange notices


Q: How are Long Codes managed (ORK)?
A: A member that already has submitted long codes to Nasdaq is also used for trading on Spotlight.


Q: How are instruments listed on Spotlight Select identified in the data feed?
A: Spotlight use values in INET "order book list string" to define groups of instruments. See more information here.