Trading Alert
MIAX Options
October 01, 2014 | 11:37 AM
MIAX Options Exchange: Potential MBBO Display Issue for Resting Orders Following an Underlying Halt
Please be advised that MIAX has identified a technical issue surrounding the handling of orders remaining on the MIAX Book after a trading halt causing such orders in certain circumstances not to be represented in the MIAX Best Bid and/or Offer.
These orders retain the proper priority on the book and remain eligible for execution. The display issue occurs when there is an order resting on the MIAX book which was present prior to a trading halt. At the conclusion of the re-opening process, such orders may not be represented in the published MBBO to both the consolidated tape and the MIAX Top of Market (ToM) feed.
This issue will be addressed in an upcoming release and announced in a Technical Alert upon completion of the rollout. Until such time, MIAX Trading Operations will proactively cancel all resting orders from the book after a trading halt in that specific product.
If you have any questions please contact Trading Operations at (609) 897-7302 or TradingOperations@miaxglobal.com.
Please direct any regulatory questions to the Regulatory Department at (609) 897-7309 or Regulatory@miaxglobal.com.