U.S. Equities

MIAX Pearl Equities Exchange will participate in the annual Market Wide Circuit Breaker ("MWCB") test on Saturday, July 23, 2022 in coordination with other market centers and the Securities Information Processors ("SIPs").
 
In accordance with MIAX Pearl Rule 2622, Limit Up-Limit Down Plan and Trading Halts, MIAX Pearl will notify certain MIAX Pearl Equities Members ("Members") that have mandatory participation requirements in the annual MWCB test.
  
Members must register with Trading Operations at TradingOperations@MIAXEquities.com prior to testing in order to participate in MWCB tests and are required to submit attestations to Regulatory@MIAXEquities.com.

Successful testing includes receiving and processing MWCB halt messages from the SIPs:

• Receive and process resume messages from the SIPs following a MWCB halt
• Receive and process market data from the SIPs relevant to MWCB halts, and
• Send orders following a Level 1 or Level 2 MWCB halt in a manner consistent with their usual trading behavior 

For additional information, please refer to MIAX Pearl Equities Exchange Regulatory Circular 2022-04.

Test Dates

• Saturday, July 23, 2022: SIP Failover / MWCB Level 1/2 Test #2
• Saturday, September 10, 2022: MWCB Level 1/2 and 3
• Saturday, December 3, 2022: SIP Failover / MWCB Level 1/2 Test #3 

For questions or to arrange testing, please contact Trading Operations at TradingOperations@MIAXEquities.com or (609) 897-7302.
 
Regulatory inquiries should be directed to Regulatory@MIAXEquities.com or (609) 897-7309.