U.S. Options

Opening Process

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MIAX Options® Opening Process

Pursuant to MIAX Options Rule 503(f), the specifics of the MIAX Options opening process can be found in the below attached documents.

The MIAX Options User’s Manual describes the opening process utilized by the MIAX Systems and can be found in Section 6. The link to this manual can be found in the MIAX Options User’s Manual.

MIAX Options System Settings and definitions are described in MIAX Options RC 2012-01 and can be found on the MIAX website here.

MIAX Opening Process and Pause timer along with a table of calculations for the Expanded Quote Range (“EQR”) are described in MIAX Options RC 2012-02.