U.S. Equities

MIAX Pearl Equities will expand the functionality available via API access to its Member Firm Portal (MFP) to allow members to update and reset specific risk controls. The MFP API is provided as an internet accessible set of REST services that allows member firms’ systems to retrieve and modify data.
 
MFP API will be expanded to allow member firms to automate actions for the following risk controls:

1. Per Order Risk Metrics (PERM)
   1. Restricted Security List
      1. Add a security to the list
      2. Remove a security from the list
   2. Regulation SHO Restricted Security List
      1. Add a security to the list
      2. Remove a security from the list
2. Cumulative Risk Metrics (CRM)
   1. Members will be able to update their threshold, as well as reset a triggered protection via a threshold update for the following protections:
      1. Maximum Gross Notional Trade Value
      2. Maximum Net Notional Trade Value
      3. Maximum Gross Notional Open Value
      4. Maximum Net Notional Open Value
      5. Maximum Gross Notional Trade and Open Value
      6. Maximum Net Notional Trade and Open Value
3. Duplicate and Order Rate Checks
   1. Duplicate Order Check with “Disable” Trigger Action
      1. Members will be able to reset a triggered protection
   2. Order Rate Check with Manual Reset
      1. Members will be able to reset a triggered protection

The above requests will be accepted between 7:00 AM ET and 5:00 PM ET (1:00 PM ET on early close days). 
 
The updated MFP API technical specifications document is available now and can be requested by contacting MIAX Trading Operations.
 
Important Dates and Notes:

• The above features will be available in the EPRL Firm Test Bed (FTB2) on Wednesday, January 10, 2024.
• The above features are targeted to be available in production in Q1 2024. The exact date will be announced in a future alert.
• In order to use the new API features, member firms will need to complete the following:
  • Request access to the API in the Firm Test Bed (FTB2) environment from MIAX Trading Operations
  • Complete a certification of the API functionality in the Firm Test Bed (FTB2) environment with support from MIAX Trading Operations

Please review the updated MIAX Pearl Risk Protections Guide for further details.

For further information and to set up certification, please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302.

Regulatory inquiries should be directed to Regulatory@miaxglobal.com or (609) 897-7309.

For additional information or to learn more about MIAX Pearl Equities, please contact at Sales@miaxglobal.com, (609) 897-8177 or visit miaxglobal.com.