RASHport (Routing and Special Handling)

RASHport, also called RASH (Routing and Special Handling), is a digital communications protocol that allows customers of the NASDAQ (National Association of Securities Dealers Automated Quotations) to conduct business in the options market... (Continued)

RASHport, also called RASH (Routing and Special Handling), is a digital communications protocol that allows customers of the NASDAQ (National Association of Securities Dealers Automated Quotations) to conduct business in the options market. RASHport is based on the same technology as the OUCH protocol, which allows subscribers to integrate NASDAQ into proprietary networks.

The RASHport protocol allows subscribers to place limit orders and receive updates on those orders with minimal latency and optimum speed. Advanced functions include:

  • Discretion
  • Random reserve
  • Pegging
  • Cross functionality
  • Special handling
  • Smart order routing
  • Delivery of real-time execution information (DROP)

RASHport works by passing logical messages between the host and the client application. Inbound messages are processed in the order received. Each new order contains a token specifying the date and the name of the account. Once a token has been used, it automatically expires so it cannot be used again. When an order has been placed and the action has been accepted by the host, an acknowledgment message is sent to the customer.

This was first published in January 2008

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