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Trading Alert, Regulatory Alert

MIAX Pearl

May 07, 2024 | 02:00 PM

MIAX Option Exchanges - Member Guidance for Test Messages and Heartbeat Messages

Members must not misuse MEI/MEO protocols test messages and/or heartbeat messages for the purposes of masking speculative messaging activity initiated in response to a market data message.

Members are required to cease submitting test messages between the hours of 9:30:00 AM and 4:15:00 PM ET as follows:

  • MIAX Options – beginning June 3, 2024
  • MIAX Pearl Options – beginning June 3, 2024
  • MIAX Emerald Options – beginning May 13, 2024
Please refer to the following Regulatory Circulars for more information: Contact Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302.  

Contact Regulation at Regulatory@miaxglobal.com or (609) 897-7309.