Regulatory Alert
MIAX Pearl
May 19, 2017 | 01:39 PM
Inclusion of Non-Routable Orders in the Managed Interest Process
MIAX PEARL recently filed with the Securities and Exchange Commission to amend MIAX PEARL Rule 503, Openings on the Exchange, to clarify how orders in the System will be handled at the conclusion of the Opening Process and MIAX PEARL Rule 515, Execution of Orders, so that when the System opens without an opening transaction non-routable orders that cross the ABBO following the conclusion of the Opening Process will be included in the Managed Interest Process.
The rule amendments became operative on Thursday, May 18, 2017.
Please refer to MIAX PEARL Regulatory Circular 2017-40 for further information on the changes to MIAX PEARL Rules 503 and 515.
Questions should be directed to the Regulatory Department at Regulatory@miaxglobal.com or (609) 897-7309.