U.S. Options

MIAX Options will introduce new Order functionality as detailed below:

• Mandatory Usage of MIAX Options Simple Order Monitor Protections
  • If your Firm has not already done so, the following values must be set:
    • Maximum Order Size Protection
    • Maximum Open Order Protection
    • Maximum Open Contract Protection
  • Please see MIAX Options Regulatory Circular 2017_15 for further details
  • Effective for trading on Monday, March 27, 2017
• Complex Market Order Functionality
  • Please see the MIAX Regulatory Circular 2017_12 for additional details
  • Effective for trading on Wednesday, March 29, 2017
• MIAX Price Collars (MPC) for Complex Orders and Complex eQuotes
  • The MIAX Price Collar functionality is an Exchange-wide protection mechanism that will prevent complex orders from executing outside a configurable price range
  • Please see MIAX Options Regulatory Circular 2017_14 and the MIAX User Manual for further details on the provided functionality.
  • Effective for trading on Wednesday, March 29, 2017
• Maximum Order Size Protections for Crosses
  • Firms can specify the maximum order acceptance size for Crossing Orders (includes PRIME, Customer-to-Customer Cross and Qualified Contingent Cross).
  • Effective for trading on Friday, March 31, 2017
• Individual Maximum Order Size Protection by Class (Underlying) 
  • Firms can specify the Maximum Order Size Protection on a per underlying basis.
  • Effective for trading on Friday, March 31, 2017

Additional details can be found in the Regulatory Circulars cited above and on the MIAX Website in the MIAX Options User Manual.

The above interface updates are available in the MIAX Firm Test Bed #2 (FTB2) environment.

All specifications are currently available at MIAX Options Interface Specifications.

Please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302 to discuss any specific issues and to arrange interface testing.