Alerts

Please be advised that connectivity to the MIAX Member Firm Portal (MFP) and the MIAX Website is now available.

All Trading Systems are operating normally.

Regulatory inquiries should be directed to Regulatory@MIAXOptions.com.

If you have any questions please contact Trading Operations at (609) 897-7302 or TradingOperations@MIAXOptions.com.

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Please be advised that connectivity to the MIAX Member Firm Portal (MFP) is currently unavailable and we are experiencing intermittent website issues.

Requests for MIAX Options, MIAX Pearl Options, MIAX Emerald Options or MIAX Pearl Equities price or size changes and trade adjustments or busts should continue to be submitted to MIAX Regulatory Regulatory@miami-holdings.com or (609) 897-7309.

All Trading Systems are operating normally.

If you have any questions please contact Trading Operations at (609) 897-7302 or TradingOperations@MIAXOptions.com.

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As previously announced in the May 27, 2021 and June 14, 2021 Alerts, MIAX Pearl Equities (EPRL) published updated MIAX Express Order (MEO) Interface and FIX Order Interface (FOI/FXD) specifications to support Minimum Qty and Reserve orders. 
 
The new features are currently available in production.  No fallback to the previous interface versions will be available beginning Monday, August 2, 2021.  Firms should migrate to the latest v2.0 interface versions prior to July 30, 2021 to avoid issues.

To arrange testing and request version upgrades, 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.


 

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MIAX Exchange Group Updated Market Data Policies
 
The MIAX Exchange Group has amended its Market Data Policies (“Policies”) relating to the reporting requirements of MIAX Exchange Group Market Data (the “Amendment”). This Amendment is effective immediately for new Market Data Subscribers, and will become effective on September 20, 2021 for existing Market Data Subscribers, which is 60 days from the date of this notice.
 
General Use Requirements - Reporting
 
Section 6 of the Policies has been amended to require monthly reporting from Uncontrolled Data Distributors of MIAX Exchange Group Market Data.
 
The current Policies state the following:

• The Exchange requires all Data Recipients who are either External Controlled Data Distributors or Data Feed Distributors to submit reports, on a monthly basis, providing Person and Market Data details (as described below) for each Person receiving Market Data.

The updated Policies state the following:

• The Exchange requires all Data Recipients who are either an External Controlled Data Distributor or an Uncontrolled Data Distributor to submit reports, on a monthly basis, providing Person and Market Data details (as described below) for each Person receiving Market Data.

 
Exchange Data Agreement
 
If, as a result of the Amendment or otherwise, your firm desires to terminate its Exchange Data Agreement with the MIAX Exchange Group (the “Agreement”), your firm must provide not less than 30 days/ prior written notice to MarketData@MIAXOptions.com pursuant to Section 14 of the Agreement.
 
Except as expressly provided herein, all of the terms and provisions of the Agreement are and will remain in full force and effect.
 
Additional Information
 
The amended version of the Policies is available on our website.
 
Please contact MarketData@MIAXOptions.com for any additional information regarding this change.

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MIAX Pearl Equities Exchange is pleased to announce the launch of the Route to Primary Auction (“PAC”) routing strategy anticipated in the 4th quarter of 2021.
 
The PAC routing strategy would enable a user to designate that their order be routed to participate in the primary listing market’s auctions.  PAC would be available for displayed Limit Orders that the entering firm wishes to designate for participation in the opening, re-opening (following a regulatory halt, suspension, or pause), or closing process of a primary listing market (Cboe BZX Exchange, Inc. (“BZX”), the New York Stock Exchange LLC (“NYSE”), The Nasdaq Stock Market LLC (“Nasdaq”), NYSE American LLC (“NYSE American”), or NYSE Arca, Inc. (“NYSE Arca”)). Other than routing to the primary listing market’s auctions, the PAC routing strategy will provide users with increased opportunities for “Price Improvement” by applying the PI routing option to the order. The PI routing option would route the order to multiple destinations at a single price level simultaneously.
 
Information regarding changes to the interface specifications can be found in the July 14th Interface Specification Update Alert.
 
For additional detail on the operation of the PAC routing strategy, please contact Sales at Sales@MIAXEquities.com or (609) -897-8177.
 
For questions regarding the PAC routing strategy, please contact Trading Operations at TradingOperations@MIAXEquities.com or (609) 897-7302.
 
Regulatory inquiries should be directed to Regulatory@MIAXEquities.comor (609) 897-7309.


 

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MIAX Pearl Equities (EPRL) has published updated MIAX Express Order (MEO) interface and FIX Order Interface (FOI/FXD) specifications to support Primary Auction (PAC) orders.  PAC Orders are pending filing with the SEC.
 
This is an optional interface upgrade. Only firms that use PAC order functionality will need to upgrade and certify the new interface versions.

The changes planned for each specification are as follows:

• MIAX Express Orders (MEO) – v2.1
  • Added new Routing Strategy for supporting PAC order entry. 
  • Added new Status codes to New Order Response, Modify Order Response and Cancel Order Response messages to support PAC orders.
  • Added a Pending Modification Status field and Pending Reject Reason field at the end of the Modify Order Notification message using existing reserved bytes. The Pending Modification Status field is used to communicate the pending, successful and unsuccessful state of an Order Modify Request. Added a note that the Modify Order Notification will be published unconditionally if a pending Modify request is rejected.
  • Added a Pending Cancel Status and Pending Reject Reason field at the end of Cancel/Reduce Size Order Notification message using existing reserved bytes. The Pending Cancel Status field is used to communicate the pending, successful and unsuccessful state of an Order Cancel Request. Added new Cancel Reason codes and a note that the Cancel/Reduce Order Notification will be published unconditionally if a pending Cancel request is rejected.
• FIX Order Interface (supports both FOI and FXD) – v2.1
  • Added support for PAC orders in New Order – Single message.
  • Added support for Pending Replace state of an order in the Execution Report message.
  • Updated the note for Cancel/Replace Request message that a Pending Replace state is now supported for PAC orders.
  • Updated the note for Order Cancel Reject message that it will also be sent in case a Cancel/Replace request is rejected.

An updated version of the Order Type Combinations Guide that includes Primary Auction (PAC) orders is published under MIAX Knowledge Center.
 
Important Dates

• The above features will be available in EPRL Firm Test Bed (FTB2) on August 16, 2021
• The above features are targeted to be available in production in Nov, 2021, pending filing with the SEC. The specific production rollout date will be announced with an alert at a later date.

Please review the updated EPRL Interface Specifications and the MIAX Exchange Group Connectivity Guide for further details.

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.

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


 

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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@miami-holdings.com.

For corporate communications, contact Andy Nybo at (609) 524-3272 or anybo@miami-holdings.com. 
MIAX Press Release 07132021

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MIAX PEARL Equities Exchange will begin trading the following When Issued Securities effective tomorrow, Tuesday, July 13, 2021.  

When Issued Securities

• GGTrw
• NABLw
• SWIw

Market Makers can use the Member Firm Portal (MFP) to manage their assignments.  All assignments must be entered prior to 9:00 AM ET on the effective trade date.  All changes made after 9:00 AM ET on a given day will be effective the following trading day.

As a reminder, Symbol IDs are assigned at the start of each trading day. They are subject to change from day-to-day, and users should not assume carry-over from one trading day to the next. Symbol IDs can be obtained from all binary interfaces, multicast feeds and are also available in a .csv file via SFTP.
MIAX PEARL Equities Symbol Matching Engine Allocations 02092021

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Effective July 1, 2021, pending filing with the SEC, the MIAX Pearl Equities Fee Schedule will be amended.

A summary of the July 1, 2021 transaction fee changes is attached.  For full details, please review the July 1, 2021 MIAX Pearl Equities Fee Schedule when posted on the MIAX website at miaxoptions.com/fees/pearl-equities.

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.
MIAX Pearl Equities Highlight of Fee Changes 07012021

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Please be advised that the MIAX Options Exchange, MIAX Pearl Options Exchange, MIAX Emerald Options Exchange and MIAX Pearl Equities Exchange will be closed on Monday July 5, 2021 in observance of Independence Day. 

If you have any questions please contact Trading Operations at TradingOperations@MIAXOptions.com  or (609) 897-7302.

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