Series 24: 5.6.2.3. Market Participant Identifiers (MPIDs)

5.6.2.3.  Market Participant Identifiers (MPIDs)

Registered members identify themselves by using a Market Participant Identifier (MPID) to display orders and quotes and to report trades. Market makers may have multiple MPIDs that they use to publish quotations. Under Nasdaq rules, a market maker’s primary MPID is subject to the two-sided quote obligation. Any additional MPIDs a market maker may have are referred to as supplemental MPIDs.

The purpose of supplemental MPIDs is to enable a more efficien