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Regulatory Alert

MIAX Emerald

October 28, 2022 | 11:36 AM

MIAX Emerald Options - New FIX Interface Specifications Available (Complex Orders / Do Not Leg)

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

Complex Orders – Do Not Leg (DNL) order instruction:
DNL is an optional order by order instruction to prevent a complex order from legging against components in the simple market.
This instruction is only available in Complex order messages and not in Complex crossing messages.

  • FIX Interface Specification (FOI) - Version 1.2
    • Updated New Order – Multileg (MsgType = "AB") to support DNL
      • Added FIX Value “C” = Do Not Leg to FIX Tag MIAXExecInst (#9018)
    • Updated Execution Report (MsgType = "8") to support DNL
      • Added FIX Value “C” = Do Not Leg to FIX Tag MIAXExecInst (#9018)
  • FIX Drop Specification (FXD) - Version 1.2
    • Updated Execution Report (MsgType = "8") to support DNL
      • Added FIX Value “C” = Do Not Leg to FIX Tag MIAXExecInst (#9018)
Important Dates:
  • This feature will be available in the Firm Test Bed (FTB2) environment in mid-November 2022
  • This feature is targeted to be in production in January 2023 (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.