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Technical Alert

MIAX Emerald

June 13, 2022 | 10:19 AM

MIAX Emerald Options - Interface Specification Updates

The MIAX Emerald Options Exchange has published updated Interface Specifications to support the following system enhancements:

Complex Orders - Auction on Arrival Only (AOAO):

  • FIX Interface Specification (FOI) - Version 1.1
    • Updated New Order – Multileg (MsgType = "AB") to support AOAO
      • Added new FIX Value “O” = Auction on Arrival Only to FIX Tag MIAXExecInst (#9018)
    • Updated Execution Report (MsgType = "8") to support AOAO
      • Added new FIX Value “O” = Auction on Arrival Only to FIX Tag MIAXExecInst (#9018)
  • FIX Drop Specification (FXD) - Version 1.1
    • Updated Execution Report (MsgType = "8") to support AOAO
      • Added new FIX Value “O” = Auction on Arrival Only to FIX Tag MIAXExecInst (#9018)
Complex Orders - cPRIME Last to Fill:
  • FIX Interface Specification (FOI) - Version 1.1
    • Updated New Order Cross – Multileg (MsgType = "As") to support Last to Fill
      • Added new FIX Tag “ExecInst” (#18) with FIX Value “X” = Last to Fill
Complex Orders - Attributable support:
  • MIAX Order Feed Interface Specification (MOR) - Version 1.1
    • Updated Complex Order Message (Message Type = “R”) to support Attributable
      • Added Attributed ID Field
  • FIX Interface Specification (FOI) - Version 1.1
    • Updated New Order – Multileg (MsgType = "AB") to support Attributable
      • Added new FIX Tag “AttributableOrderIndicator” (#9732) to support Attributable
Contra Liquidity Type:    
  • FIX Interface Specification (FOI) - Version 1.1
    • Added Contra Liquidity Type to Additional Billing Parameters
  • FIX Drop Specification (FXD) - Version 1.1
    • Added Contra Liquidity Type to Additional Billing Parameters
  • CTD Interface Specification (CTD) - Version 1.2
    • Added Contra Liquidity Type to Additional Billing Parameters section of Trade Message
Simple Orders - ISO PRIME:    
  • Top of Market Feed (ToM) - Version 1.2
    • Updated Last Sale Message (Message Type = “T”) and Trade Cancel Message (Message Type = “X”) to support ISO Prime
      • Added new Trade Condition “b” Trade from a ISO Paired PRIME transaction
  • FIX Interface Specification (FOI) - Version 1.1
    • Updated New Order Cross – (MsgType = "s") to support ISO Prime
      • Added new FIX Value "f" = Inter-market Sweep Order (ISO) to FIX Tag ExecInst (#18)
  • CTD Interface Specification (CTD) - Version 1.2
    • Updated Trade Message (Message Type = "T") to support ISO Prime
      • Added new Trade Condition “b” Trade from a ISO Paired PRIME transaction
AutoCancel on System Failures:    
  • FIX Interface Specification (FOI) - Version 1.1
 
Cleanup of Deprecated Fill-or-Kill (FOK) Functionality:
  • FIX Interface Specification (FOI) - Version 1.1
    • Removed FOK TIF from New Order – Single, Order Cancel/Replace Request – Single, and Execution Report – Single or Multi-leg
    • Removed FOK Order Type
  • FIX Drop Specification (FXD) - Version 1.1
    • Removed FOK TIF from Execution Report
    • Removed FOK TIF from Additional Billing Parameters
  • CTD Interface Specification (CTD) - Version 1.2
    • Removed FOK TIF from Trade Message
  • MIAX Order Feed Interface Specification (MOR) - Version 1.1
    • Removed FOK Order Type
Important Dates:
  • These features are currently available in the Firm Test Bed (FTB2) environment
  • These features are expected to be in production in July 2022 (pending SEC approval)

Please review the updated interface specifications for further details on the MIAX website at MIAX Emerald Options Exchange Specifications

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