Regulatory Alert, Trading Alert
MIAX Pearl Equities
June 22, 2023 | 11:44 AM
MIAX Pearl Equities - New Risk Controls and Enhancements to Primary Auction (PAC) Routing Option
MIAX Pearl Equities (the “Exchange”) will make the following additions to risk controls and enhancements to PAC routing:
Risk Controls
- Beginning June 27, 2023, the Exchange will offer two additional optional risk settings to Equity Members:
(1) Gross Notional Open and Trade Value Protection, and
(2) Net Notional Open and Trade Value Protection.
PAC Enhancements
- Beginning June 26, 2023, the Exchange will allow Equity Members that are approved as Retail Member Organizations (“RMOs”) to identify Retail Orders as Retail when routed to the primary listing market’s opening, re-opening, or closing process pursuant to the PAC routing option.
- Beginning June 28, 2023, the Exchange will begin to route orders to participate in the primary listing market’s closing auction at 3:57:00 p.m. Eastern Time.
Please refer to MIAX Pearl Equities RC 2023-11 for more information on the new risk controls and changes for PAC routing.
For additional details about MIAX Pearl Equities, please contact Sales at sales@miaxglobal.com or (609) 897-8177.
For questions regarding the PAC routing strategy or the enhanced risk settings, please contact Trading Operations at tradingoperations@miaxglobal.com or (609) 897-7302.
Regulatory inquiries should be directed to regulatory@miaxglobal.com or (609) 897-7309.