U.S. Options

MIAX Sapphire Options has modified the criteria for the Opening Process. The opening of trading or resumption of trading after a halt of securities by the System will be dependent on the following criteria, provided the ABBO is not crossed.

• If there is locking or crossing interest on MIAX Sapphire Options or interest that locks or crosses the NBBO, a Valid Width NBBO must be present.
• If there is no locking or crossing interest on MIAX Sapphire Options and no interest that locks or crosses the NBBO, then the Exchange will open dependent upon one of the following:
  • A Valid Width NBBO is present; or
  • At least five (5) minutes has elapsed.

A Valid Width NBBO is defined as at least four (4) away market quotes resulting in an NBBO not greater than $5.00 wide.
 
For more information regarding the Opening Process, refer to the following Regulatory Circular:

• MIAX Sapphire Options RC-2024-40

For questions regarding the Opening Process, please contact Trading Operations at TradingOperations@miaxglobal.com or call (609) 897-7302.

For Regulatory questions, contact Regulatory@miaxglobal.com or (609) 897-7309.