U.S. Options

As previously announced in a September 1st Alert, the MIAX Emerald Options Exchange has published updated MIAX Express Interface (MEI) Specifications.  These mandatory changes require certification.  Emerald MEI V2.0 and V2.1 will be supported until Wednesday, October 14, 2020.  Rolling back to MEI V2.0 will no longer be supported beginning Thursday, October 15, 2020.  

• MIAX Express Interface (MEI) V2.1
  • Simple bulk quote request message
    • Changed message type and added reserved bytes to accommodate future enhancements
  • Product Trading Status Notification
    • Eliminated product level halt notifications. Underlying level notifications from data feeds can be used instead
  • Simple Series Update
    • Added support for new Equities exchanges
  • Changes to other Notifications
    • Added note to System Status, Complex Strategy definition, Product Trading Status & Underlying Trading Status

These changes are mandatory and available now in Firm Test Bed (FTB2) and will be available in production on September 25, 2020.

All firms must cut over to V2.1 on or before the cutoff date of October 15, 2020.

• MIAX Express Interface (MEI) V2.1a
  • Hot Topics section
    • Added note about the Reconnect delay
    • Reduced the permitted number of in-flight messages to be sent by member firms to 4 (currently 20)
  • Configuration section
    • Added a new feature to allow cancel, execution and stock leg execution notifications to be sent solely on sourcing port on which the liquidity was originated by the firm. It is highly recommended for Firms to evaluate using this feature to most efficiently receive notifications

The reconnect delay and in-flight changes are mandatory. The changes related to the cancel, execution and stock leg execution notifications are optional.

These changes will be available in Firm Test Bed (FTB2) in on October 1, 2020.

All firms must support the reconnect delay and 4 in-flight changes by October 20, 2020.

Please review the highlighted updated interface specifications for further details:

• MIAX Emerald Options Exchange Specification

Please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302 to discuss any specific issues and to arrange interface testing.