U.S. Equities

As previously announced in the March 18, 2021 Alert, MIAX Pearl Equities (EPRL) published updated MIAX Express Order (MEO) Interface and FIX Order Interface (FOI/FXD) specifications to support Minimum Qty and Reserve orders. A new supporting document for Liquidity Indicator Codes is also available.
 
Implementation of these updated specifications are mandatory regardless of a firm's intention to utilize the new order types since there are additional messaging changes.

Important Dates

• Firms will have 2 weeks after the production rollout date for upgrading to the above specification versions. Older versions will not be supported past this date.
• The new features are currently available in EPRL Firm Test Bed (FTB2)
• The new features are targeted to be available in production in July 2021, pending filing with the SEC. The specific production rollout date will be announced with an alert after the approval.

An updated version of the Order Type Combinations Guide that includes Minimum Qty and Reserve orders is published under MIAX Knowledge Center.

Please review the updated EPRL Interface Specifications and the MIAX Exchange Group Connectivity Guide for further details.

For further information or to arrange testing, please contact MIAX Trading Operations at TradingOperations@MIAXEquities.com or (609) 897-7302.

Regulatory inquiries should be directed to Regulatory@MIAXEquities.com or (609) 897-7309.

To learn more about Pearl Equities please contact Sales@MIAXEquities.com, (609) 897-8177 or visit MIAXEquities.com.