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Trading Alert

MIAX Emerald

February 24, 2022 | 10:28 AM

MIAX and MIAX Emerald Options Exchanges - Update: Introducing the Complex Liquidity Taker Report

As previously announced in the February 14th Alert, MIAX is pleased to announce the introduction of new Complex Liquidity Taker Reports for the MIAX Options and MIAX Emerald Options exchanges beginning March 1, 2022.  

The MIAX Options / MIAX Emerald Complex Liquidity Taker Report provides liquidity response time details for executions of complex orders that rest on the book and execute within 200 microseconds of receipt and where the firm receiving the report attempted to execute against the resting order. The report includes liquidity response timestamps of both the first executing response and all later responses submitted by the firm receiving the report that arrived within 200 microseconds of receipt of the resting order. Response timestamps are captured as liquidity arrives at the outer edge of each respective exchange’s network.
 
The Complex Liquidity Taker Reports will be generated and available for download from the MIAX Secure FTP Server after 1:00AM EST each trading day.

  • Additional details on the reports can be found at MIAX Options Reports and MIAX Emerald Options Reports
  • Monthly and discounted annual subscriptions per respective exchange are available for these reports, pending filing with the SEC  
    • Fees for the new report will be filed at $4,000 per month or $24,000 per year (12 month subscription)
    • Subscribers of both the Simple Liquidity Taker Report and the new Complex Liquidity Taker Report will receive both reports at a reduced annual subscription rate of $40,000  
    • Subscribers with an existing 12 month subscription to the Simple Liquidity Taker Report may add a subscription to the Complex Order Report during their current 12 month subscription.  The fee for the additional report will be pro-rated for the remainder of the subscriber’s current 12 month subscription
  • The revised fee schedules commencing on March 1, 2022 will be posted at MIAX Options Fees and MIAX Emerald Options Fees upon filing
Members can request access to the reports and specifications by contacting Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302.

For additional information, please contact MIAX Sales at Sales@miaxglobal.com or (609) 897-8177.