Wednesday, June 25, 2025

Equity Trader Alert #2025 - 41
Nasdaq Announces Equities Risk Checks Update to Hard to Borrow List

Category:

  • New Functionality

Markets Impacted:

Contact Information:

Resources:

The Nasdaq Stock Market (Nasdaq), Nasdaq BX, and Nasdaq PSX will introduce a new enhancement to Equities Risk Checks controls.

Hard to Borrow List

The Hard to Borrow check will include both Short Sale and Short Sale Exempt orders. Currently, the check only blocks Short Sale orders.

The new functionality will be rolled out over the course of several weeks. During the period of time while each exchange is implementing this feature, customers may notice differences in order handling behavior, where two orders sent by the same customer may be handled differently by the system. This is expected until the feature has been fully rolled out on each exchange. The rollout will commence as follows:

RASH/FIX: July 8th

PSX (OUCH & FLITE): July 14th 

BX (OUCH & FLITE): July 21st  

Nasdaq (OUCH & FLITE): July 28th  

Testing Opportunities

Testing is currently available in the Nasdaq Testing Facility (NTF).

For any questions, please contact Nasdaq Trading Services at +1 212 231 5100.



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Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.