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Trading Alert

MIAX Options

May 23, 2014 | 02:16 PM

MIAX Options - MIAX Price Improvement Mechanism (PRIME™) Available in the MIAX Firm Test Bed #2

The MIAX Options Exchange has updated the MIAX Firm Test Bed #2 (FTB2) environment with the MIAX Price Improvement Mechanism (PRIME™) functionality.  PRIME™ is currently available for testing and certification. 

Updated Interface Specifications are available with the following clarifications:

  • CTD
    • Executing MPID description change
  • FOI
    • MsgType “s” tag 204 – clarification of valid values
    • Notes section bullet “Clearing Detail” - clarification of gateway validations
    • MsgType 8 – Added tag 9946 (FirmMPID)
  • MEI
    • Message type “QR”: New Quote Status “D”
    • Message type “ER”: New eQuote Request Status “D”


The deployment of PRIME™ will be announced in a future Alert.  The PRIME™ functionality is targeted for a July activation pending SEC Approval.

MIAX Options Trading Interface Specifications are located at interface-specifications.  

The MIAX Rulebook is located at regulatory

Please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302 to discuss any specific issues and to arrange interface testing.