Interface Specifications

The MIAX PEARL trading platform is built to meet the high performance order processing demands unique to the U.S. options trading industry. In addition to providing exceptional throughput, ultra-low latency access and best in class wire-order determinism, our interface solutions facilitate well defined and easy to implement industry accepted approaches to integration with the trading platform. Support is provided by a knowledgeable staff to assist firms with the on-boarding process, certification or re-certification in the firm test bed environment or to answer questions in the production environment.

Liquidity Provider Interface Specifications

FIX ORDER INTERFACE (FOI) GATEWAY
The MIAX PEARL high speed FIX Order Interface gateway conveniently routes orders to our trading engines through a common entry point to our trading platform.
PEARL FIX DROP (FXD)

The MIAX PEARL FIX Drop is a messaging interface that provides real-time trade information corresponding to a firm’s orders.

MIAX EXPRESS ORDER (MEO)

The MIAX Express Order interface is a feature rich binary order interface that provides exceptional determinism, throughput and ultra-low latency to our execution engines.

CLEARING TRADE DROP (CTD)

The MIAX PEARL Clearing Trade Drop provides real-time clearing trade content to firms with the same ultra-low latency technology provided throughout our trading platform.

Data Feed Interface Specifications

TOP OF MARKET (ToM) FEED

Get the PEARL BBO and Trade Report market data via our hyper fast Top of Market feed.

PEARL LIQUIDITY FEED (PLF)

The PEARL Liquidity Feed is a high speed real-time feed that publishes all actionable orders in addition to Series Update, System State and Underlying Trading Status messages.

Session Management

TCP SESSION MANAGEMENT AND TRANSMISSION CHARACTERISTICS

The SesM – TCP specification defines the session management for TCP connections to our market.

MULTICAST TRANSMISSION CHARACTERISTICS

The MIAX MACH protocol defines the handling of multicast transmissions from our market.

Technical Notes