Regulatory Alert
MIAX Pearl
April 24, 2017 | 11:42 AM
Aggregate Risk Manager Counting Program - Exclusion of Immediate-or-Cancel ('IOC') Orders
MIAX PEARL recently filed with the Securities and Exchange Commission to amend MIAX PEARL Rules 517A, Aggregate Risk Manager for EEMs, and 517B, Aggregate Risk Manager for Market Makers to state that the MIAX PEARL System does not include contracts executed as a result of an IOC order in the calculation of the submitting MIAX PEARL Member’s Allowable Engagement Percentage.
The exclusion of IOC orders from the Aggregate Risk Manager Counting Program will be effective beginning Monday, May 1, 2017.
Please refer to MIAX PEARL Regulatory Circular 2017-38 for further details.
Regulatory inquiries should be directed to Regulatory@miaxglobal.com or (609) 897-7309.