U.S. Equities

MIAX Pearl Equities Exchange proposes, pending SEC review, to adopt the Minimum Execution Quantity (“MEQ”) order type instruction.  The MEQ instruction would enable a User to specify a minimum share amount at which a non-displayed order will execute.  A non-displayed order to buy (sell) with an MEQ instruction would not execute unless the volume of orders to sell (buy) meets or exceeds the non-displayed order to buy (sell)’s designated minimum quantity condition.  The MEQ instruction will also allow Users to specify whether the non-displayed order's minimum quantity condition can be satisfied by each individual order or multiple aggregated orders upon entry.
 
MIAX Pearl Equities plans to launch the MEQ instruction in the second or third quarter of 2021.  Interface specifications and exact implementation dates will be announced shortly.  MIAX Pearl Equities’ related rule filing is available here: SR-PEARL-2021-07.

For additional detail on the operation the MEQ instruction, please contact Sales at sales@MIAXEquities.com, (609) -897-8177 or visit MIAXEquities.com.

For further information or to arrange testing, please contact MIAX Trading Operations at TradingOperations@MIAXEquities.com or (609) 897-7302.

Regulatory inquiries should be directed to Regulatory@MIAXEquities.com or (609) 897-7309.