U.S. Options

As previously announced in a September 18th Alert, MIAX Emerald Options Exchange has published updated MIAX Express Interface (MEI) Specifications.  These mandatory changes require certification for upgrades from 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.

Customers are also reminded that subsequent to the upgrade to MEI v2.1, there is a follow on upgrade to MEI. This had been identified as MEI v2.1a. However, MEI v2.1a is now replaced with MEI v2.1b which simply makes a clarification to language in the specification. There are no other changes from v2.1a other than the clarified wording.
  
MIAX Express Interface (MEI) v2.1b Specification Updates to clarify the flow control changes:
Clarified the description of the Flow Control bullet item in the Hot Topics Section to:

• Resized the window size to 4k to accommodate up to 4 in-flight full 50 quote block messages sent by the member firms

Other changes as mentioned in the v2.1a release remain as follows in the v2.1b release:

• Hot Topics section
  • Added note about the Reconnect delay
• 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.  Users must contact TradingOperations@miaxglobal.com to enable this feature.

The reconnect delay and in-flight changes are mandatory. The changes related to the cancel, execution and stock leg execution notifications are optional.
 
Tentative Rollout Schedule of MEI V2.1b:

• Day 1: Matching Engine Environment 11 (Symbols Z – ZZZZ)
  • October 30, 2020 production activation
• Day 2: Matching Engine Environment 4 (Symbols G – HZZZ)
  • November 3, 2020 production activation
• Day 3: Matching Engine Environments 1 – 3 (Symbols A – FZZZ)
  • November 6, 2020 production activation
• Day 4: Matching Engine Environments 5 – 10 & 12 (Remaining Symbols)
  • November 9, 2020 production activation

Firm Test Bed Availability
The MIAX Express Interface (MEI) V2.1b release will be available in Firm Test Bed (FTB2) on October 7, 2020 (updated from October 1, 2020).
 
Please note: certification for this release (from V2.1 to V2.1b) is not required but members are encouraged to verify your software in MIAX Emerald Options Firm Test Bed 2.

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.