Alerts

Effective September 25, 2020, pending filing with the SEC, the MIAX PEARL Equities Exchange Fee Schedule will be implemented and applicable for production symbols.  A summary is attached.

For additional information, please contact MIAX Sales at Sales@MIAXEquities.com or (609) 897-8177.

If you need assistance, please contact MIAX Trading Operations at TradingOperations@MIAXEquities.com or (609) 897-7302.

Full details can be found in the attached press release.

For further information, please visit www.MIAXOptions.com or contact MIAX Trading Operations at TradingOperations@MIAXOptions.com.

For corporate communications, contact Dominique Prunetti-Miller at (609) 897-1465 or dprunetti@miami-holdings.com. 

The Equities platform of MIAX PEARL, LLC will be available for registration on the Central Registration Depository (Web CRD) for both Form BD and Form U-4 applicants beginning Friday, September 25, 2020.

Please refer to MIAX PEARL Equities Regulatory Circular 2020-10 for Web CRD registration information.

For questions related to qualifying MIAX PEARL Equities registrations, please contact memberservices@miami-holdings.com.

MIAX PEARL Equities (the “Exchange”) will launch on Friday, September 25, 2020. Please refer to the list below for information regarding the Exchange launch. 

• A list of symbols to be included in the first three rollout dates is attached.  Additional symbols will be published in a future Alert.
• Beginning Tuesday, September 29, 2020, the Exchange will list NETGEAR, Inc. (NTGR). Please note, previously announced Honda Motor Co. LTD (HMC) will not be available on Tuesday, September 29, 2020. 
• An updated exchange system settings can be found here.
• For a summary of available Exchange functionality including order combinations, click here.

For questions regarding exchange functionality, please contact Trading Operations at TradingOperations@MIAXEquities.com or (609) 897-7302.
 
Regulatory inquiries should be directed to Regulatory@MIAXEquities.com or (609) 897-7309.

In preparation for the MIAX PEARL Equities Exchange launch on September 25, 2020, attached is an updated symbol rollout list for the phases schedule below. Please note, the attached is subject to change based on any industry symbol listings, delistings and corporate actions.

Production Rollout Schedule:

• Phase 1 - Friday, September 25th, 2020 – All Test Symbols
• Phase 2 - Tuesday, September 29th, 2020 – First Live Symbol: NTGR (previously was HMC)  
• Phase 3 - Date TBD (See Attached Symbol Rollout List)

Important Dates:

• Connectivity to the EPRL Firm Test Bed 2 (PEFTB2) is available now, contact TradingOperations@MIAXEquities.com

Resources:

• Membership paperwork is currently being accepted, visit Membership Forms and Onboarding
• EPRL System Settings are now available
• See the EPRL Interface Specifications and the MIAX Exchange Group Connectivity Guide 
• The EPRL User's Manual and FAQ's are now available on our website under PEARL Equities Exchange Functionality
• EPRL Rulebook
• To add MIAX PEARL Equities Alerts, visit MIAX Email Subscriptions
• EPRL Symbol / Matching Engine Allocation
  • See Attached

MIAX PEARL Equities Exchange Codes:

• Bloomberg:  VP
• Blue sheet – Exchange Code:  8
• Blue sheet – Requestor Code:  7
• CAT Destination Code:  PEARLEQ
• CAT Market Center ID:  H
• CAT Related Market Center ID:  S
• CAT Participant Code:  PEARLEQ
• ECAT Code: H (previously announced as S but changed at the request of SIAC)
• FINRA Short Interest Reporting Code:  Y
• MIC Code:  EPRL
• MIC Code (Dark): EPRD
• OATS Destination Code:  XH
• OATS Market Center ID:  H
• RIC Code:  .MP
• RIC Trade Exchange ID:  MPE
• SIP Code: H
• Thomson One Exchange Code:  NP
• UTC Market Code:  190

All updates will be provided through future Alerts.

For further information, 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.

To learn more about PEARL Equities please contact Sales@MIAXEquities.com, (609) 897-8177 or visit MIAXEquities.com.


 

Effective September 25, 2020, MIAX PEARL Equities will allow an Equity Member that does not self-clear to allocate and revoke the responsibility of establishing and adjusting their Gross Notional Trade Value risk settings to a Clearing Member that clears transactions on behalf of the Equity Member on MIAX PEARL Equities, subject to regulatory review.

Please refer to MIAX PEARL Equities Regulatory Circular 2020-09 for more information on Gross Notional Trade Value risk settings.

For questions regarding risk settings, please contact Trading Operations at TradingOperations@MIAXEquities.com or (609) 897-7302.
 
Regulatory inquiries should be directed to Regulatory@MIAXEquities.com or (609) 897-7309.

As previously announced in the April 20, 2020 Alert, the MIAX Exchange Group will be participating in the 2020 SIFMA BCP Testing on Saturday, October 24, 2020.  All members that are required to test with  MIAX Options, MIAX PEARL Options, and/or MIAX Emerald Options exchanges in accordance with Regulation Systems Compliance and Integrity (Regulation SCI) have been notified.  In  anticipation of the September 25, 2020 launch of MIAX PEARL Equities exchange, the required MIAX PEARL Equities members have also been notified of their obligation to participate.  However, all members of MIAX Options, MIAX Emerald Options, MIAX PEARL Options, and MIAX PEARL Equities are encouraged to test.

All Options designated Members are required to maintain connection to the MIAX Disaster Recovery (DR) environment for a twelve (12) month period after receiving notification for mandatory testing.

All of the Exchanges will operate out of the Chicago (CH4) Disaster Recovery site for the scheduled test.

Testing Preparation
Testing to the DR environments for each of the MIAX Exchanges will be available:

• Saturday, September 26, 2020, between 8:00AM - 12:00PM EST
• Saturday, October 3, 2020, between 8:00AM - 12:00PM EST
• Monday, October 19, 2020 through Friday, October 23, 2020, between 8:00AM - 5:30PM EST

October 24, 2020 Test Day Timeline

• 08:30 - Firms can connect to the Trading Systems and enter Orders and Quotes
• 09:15 - Live Quote Window will open
• 09:30 - Opening
• 13:00 - Closing

MIAX, PEARL & Emerald Options Exchanges BCP Testing Requirements
Members mandated to participate in accordance with Regulation SCI are obligated, at a minimum, to demonstrate the following:

Electronic Exchange Members (EEM)

• Send at least two orders in any of the options listed below
• Receive at least one execution in any of the options listed below

Market Makers (MM)

• MIAX Options Exchange:
  • Send at least one, two-sided quote in any of the options listed below
  • Receive at least one execution in any of the options listed below
• MIAX PEARL Options Exchange:
  • Send at least one, two-sided order in any of the options listed below
  • Receive at least one execution in any of the options listed below
• MIAX Emerald Options Exchange:
  • Send at least one, two-sided quote in any of the options listed below
  • Receive at least one execution in any of the options listed below

Options

1. AAPL - JAN 15 21 - C – 205
2. AAPL - JAN 15 21 – P – 205
3. BAC - NOV 20 20 – C – 30
4. BAC - NOV 20 20 – P – 30
5. GE - JAN 15 21 – C – 10
6. GE - JAN 15 21 – P – 10
7. MSFT - JUN 18 21 – C – 65
8. MSFT - JUN 18 21 – P – 65
9. SPY - DEC 18 20 –C -290
10. SPY - DEC 18 20 – P - 290

MIAX PEARL Equities Exchanges BCP Testing Requirements
Equitiy Members mandated to participate in accordance with Regulation SCI are obligated, at a minimum, to demonstrate the following:

• Send at least two orders in any of the equity symbols listed below
• Receive at least one execution in any of the equity symbols listed below

Equities

1. Symbol NTGR
2. Symbol ZVZZT
3. Symbol NTEST

Business Continuity and Disaster Recovery Plans Testing Member Designation Standards

• MIAX Options Exchange  MIAX_Options_RC_2017_60
• MIAX PEARL Options Exchange MIAX_PEARL_RC_2017_66
• MIAX Emerald Options Exchange  MIAX_Emerald_RC_2019_15
• MIAX PEARL Equities Exchange MIAX_PEARL_Equities_RC_2020_04

For test day support, to coordinate participation or to arrange connectivity testing, please contact MIAX Trading Operations at TradingOperations@MIAXOptions.com or (609) 897-7302.

In preparation for the MIAX PEARL Equities Exchange launch on September 25, 2020, industry mock trading will be held this Saturday, September 19, 2020.  All firms are encouraged to test connectivity to the production environment and send orders utilizing prices relevant to the prior day's close.

Test Details:

• Firm lines open:  8:00 AM
• Opening trade time:  9:30 AM
• Closing time: 12:00 PM

The MIAX PEARL Equities mock trading testing will support all production and test symbols utilizing assigned production network connections:

• Open firm participation via each of MIAX EPRL’s technical interfaces:
  • MIAX Express Orders (MEO) for binary orders
  • FIX Order Interface (FOI) for FIX orders
  • FIX Drop Copy (FXD)
• MIAX EPRL Market Data Dissemination via each of the MIAX EPRL data feeds:
  • Top of Market Data (ToM) Feed
  • Depth of Market Data (DoM) Feed
• Dissemination of Quote and Trade data to SIP
• Data generated from the testing will utilize "H" for both CTA and UTP which will be disseminated via SIP’s Production channels
• Routing of eligible orders to exchanges at the NBBO via participating exchanges and/or via simulation.
• The DTCC publication of the UTC Code and client testing details are available at:
  https://www.dtcc.com/legal/important-notices?subsidiary=NSCC
  • Attached is the August 19, 2020 DTCC Notice
• OATS - The OATS cert site will accept events with Destination Code: XH
• CAT - The CAT cert site will accept events with Destination Exchange ID: PEARLEQ

While not required for participation in mock trading, API certification is mandatory prior to launch for those participants utilizing the MEO, FOI and FXD Interfaces. 

Important Dates:

• Connectivity to the EPRL Firm Test Bed 2 (PEFTB2) is available now, contact TradingOperations@MIAXEquities.com
• Friday, September 25, 2020 – All Test Symbols in Production
• Tuesday, September 29, 2020 – First Live Symbol (HMC) in Production 
  • For further details, refer to the Initial Symbol Rollout Alert

Resources:

• Membership paperwork is currently being accepted, visit Membership Forms and Onboarding
• See the EPRL Interface Specifications and the MIAX Exchange Group Connectivity Guide 
• The EPRL User's Manual and FAQ's are now available on our website under PEARL Equities Exchange Functionality
• EPRL Rulebook
• To add MIAX PEARL Equities Alerts, visit MIAX Email Subscriptions
• EPRL Symbol / Matching Engine Allocation
  • See Attached

MIAX PEARL Equities Exchange Codes:

• Bloomberg:  VP
• Blue sheet – Exchange Code:  8
• Blue sheet – Requestor Code:  7
• CAT Destination Code:  PEARLEQ
• CAT Market Center ID:  H
• CAT Related Market Center ID:  S
• CAT Participant Code:  PEARLEQ
• ECAT Code: H (previously announced as S but changed at the request of SIAC)
• FINRA Short Interest Reporting Code:  Y
• MIC Code:  EPRL
• MIC Code (Dark): EPRD
• OATS Destination Code:  XH
• OATS Market Center ID:  H
• RIC Code:  .MP
• RIC Trade Exchange ID:  MPE
• SIP Code: H
• Thomson One Exchange Code:  NP
• UTC Market Code:  190

All updates will be provided through future Alerts.

For further information, 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.

To learn more about PEARL Equities please contact Sales@MIAXEquities.com, (609) 897-8177 or visit MIAXEquities.com.


 

MIAX PEARL Equities Members must submit Clearly Erroneous Execution and Appeal notifications to the Regulatory Operations group at Regulatory@MIAXEquities.com. Clearly Erroneous Execution and Appeal forms are located at https://www.miaxoptions.com/regulatory-forms/pearl-equities.

Please refer to MIAX PEARL Equities Regulatory Circular 2020-08 for more details.

Regulatory questions may be directed to Regulatory@MIAXEquities.com or (609) 897-7309.

Please refer to MIAX PEARL Equities Regulatory Circular 2020-07 for information on Trade Collar reference prices, numerical guidelines and the specified dollar value.

Questions regarding Risk Settings may be directed to Trading Operations at TradingOperations@MIAXEquities.com or (609) 897-7302.
 
Regulatory questions may be directed to Regulatory@MIAXEquities.com or (609) 897-7309.