Trade Hours & Calendar

Hours of Operation

TIME (US EST ZONE) DESCRIPTION
6:00 AM
Start of System Hours
  • Dissemination of messages over the Top of Market Feed (ToM) and PEARL Liquidity Feed (PLF)
7:00 AM
MIAX Express Order Interface Startup
  • Firms can connect to the MIAX Express Order Interface (MEO) and download products. Firms may not send any application messages until the Live Order Window (LOW) opens at 7:30 AM.
7:30 AM
Live Order Window (LOW)
  • Firms can connect to the FIX Gateway and MEO Interface to conduct pre-market order activity. All order activity during this time period WILL affect the live book.
Series Assignments
  • Market Makers can send daily Market Maker Series Assignments
9:00 AM
Series Assignments
  • MIAX PEARL stops accepting Market Maker Series Assignments
9:30 AM - 4:00 PM
Trading Session for Equity Options (ends at 1:00 pm on early closing days)
  • MIAX PEARL stops accepting Orders and Quotes at the end of the Trading Session
9:30 AM - 4:15 PM
Trading Session for select ETF and Index Options (ends at 1:15 pm on early closing days)
  • MIAX PEARL stops accepting Orders and Quotes at the end of the Trading Session
4:25 PM
End of Order Cancel acceptance
  • MIAX PEARL will stop accepting cancels for orders (ends at 1:25 pm on early closing days)
4:25 PM - 5:00 PM
Dissemination of Nothing Done Messages (1:25 pm to 2:00 pm on early closing days)
  • Final trade corrections and clearing adjustments

Calendar

HOLIDAY 2018 2019
New Years Day
January 1st
January 1st
Martin Luther King Jr. Day
January 15th
January 21st
Washington’s Birthday
February 19th
February 18th
Good Friday
March 30th
April 19th
Memorial Day
May 28th
May 27th
Independence Day
July 4th
July 3rd  *
July 4th
July 3rd   **
Labor Day
September 3rd
September 2nd
Thanksgiving Day
November 22nd
November 23rd *
November 28th
November 29th **
Christmas
December 25th
December 24th *
December 25th
December 24th **

* Each market will close 3 hours early at 1:00 p.m. (1:15 p.m. for eligible options) on Wednesday, July 3, 2018, Friday, November 23, 2018 and Tuesday, December 24, 2018. All times are Eastern Time.

 ** Each market will close 3 hours early at 1:00 p.m. (1:15 p.m. for eligible options) on Wednesday, July 3, 2019, Friday, November 29, 2019 and Tuesday, December 24, 2019. All times are Eastern Time.



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