Trading Alert
MIAX Pearl
August 27, 2018 | 03:19 PM
MIAX PEARL - Introducing Market Maker Self-Trade Protection at the Firm Level Beginning Friday, September 7, 2018
MIAX PEARL has amended Rule 514, Priority on the Exchange, to expand the scope of self-trade protections. Orders entered by a Market Maker via the MEO Interface or the FIX Interface will not be executed against orders entered on the opposite side of the market by (i) a Market Maker of the same firm, or alternatively, if selected by the Member, (ii) a Market Maker with the same MPID.
The effective date for the Market Maker self-trade protection change will be Friday, September 7, 2018.
Please refer to MIAX PEARL Regulatory Circular 2018-28 for further details.
As previously announced in the July 13, 2018 Alert, the MIAX PEARL Interface Specifications have been updated to support Market Maker Self-Trade prevention at the firm level. These updates are currently available on PEARL Firm Test Bed 2 (FTB2).
For any questions regarding self-trade protection configuration and implementation, 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.