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Regulatory Alert

MIAX Emerald

August 09, 2022 | 02:31 PM

MIAX Emerald Options - New Features and Interface Specification Updates

As previously announced in the June 13, 2022 Alert and June 21, 2022 Alert, MIAX Emerald Options Exchange published updated Interface Specifications to support system enhancements.  The following enhancements are scheduled to be activated on August 12th:

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
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

These features are currently available in the Firm Test Bed (FTB2) environment.

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.