U.S. Options

The MIAX Option Exchanges will implement a proposed rule change to amend Exchange Rule 521, Nullification and Adjustment of Options Transactions Including Obvious Errors, on July 1, 2022, in coordination with all other options exchanges. The rule amendments include the following.

• The Exchange will introduce a new methodology for determining the Theoretical Price for Customer transactions occurring within 10 seconds or less after an opening or re-opening on the Exchange.
• When at least one party to the Obvious Error is a Customer, the execution price of the transaction will be adjusted by an Exchange Official, rather than nullified.

Please refer to the following Regulatory Circulars for more information.

• MIAX Options RC 2022-35
• MIAX Pearl Options RC 2022-34
• MIAX Emerald Options RC 2022-32

Regulatory inquiries regarding the changes to MIAX Rule 521 should be directed to Regulatory@miaxglobal.com or (609) 897-7309.