U.S. Equities

The MIAX Pearl Equities Exchange will introduce enhanced functionality to the Member Firm Portal beginning May 20, 2021 that will allow Member Firms to submit session configuration modification requests directly via the portal. 

All of the changes listed below must be entered prior to 5:30 PM ET on the day immediately preceding the effective date.  All updates made after 5:30 PM ET on a given day will be effective two trading days later.

MIAX Express Orders (MEO)
Modification Requests for the following will be supported:

Session Protections and Configurations

• MEO Notifications per Session
  • System State Notification (SN)
  • New Order Notification (ON )
  • Modify Order Notification (OM)
  • Cancel Reduce Size Order Notification (XN)
  • Execution Notification (EN)
• MEO Session Configurations
  • Permitted MPIDs for Session
  • Maximum Order Size
  • Market Order Protection
  • Reject ISO
  • Reject Short Sale
  • Maximum Order Notional Value
  • Duplicate Order Count, Duplicate Order Time Window, Duplicate Order Trigger Action
  • Allow Test Symbols
• MEO Session Cumulative Risk Metrics (CRM) - Maximum Gross Notional Trade Value
  • Firm Configuration
  • MPID Configuration
  • Session Configuration
• MEO Session Cumulative Risk Metrics (CRM) - Maximum Net Notional Trade Value
  • Firm Configuration
  • MPID Configuration
  • Session Configuration
• Limit Order Price Protection per Session
• Auto Cancel Protections per Session

FIX Order Interface (FOI) Gateway 
Modification Requests for the following are supported:

FOI Session Protections and Configurations

• FOI Session Configurations
  • Permitted MPIDs for Session
  • Maximum Order Size
  • Market Order Protection
  • ISO Reject
  • Short Sale Reject
  • Maximum Order Notional Value
  • Duplicate Order Count, Duplicate Order Time Window, Duplicate Order Trigger Action
  • Allow Test Symbols
  • Attributable
  • Enable Working Price Update
• FOI Session Cumulative Risk Metrics (CRM) - Maximum Gross Notional Trade Value
  • Firm Configuration
  • MPID Configuration
  • Session Configuration
• FOI Session Cumulative Risk Metrics (CRM) - Maximum Net Notional Trade Value
  • Firm Configuration
  • MPID Configuration
  • Session Configuration
• Limit Order Price Protection per Session
• Auto Cancel Protections per Session

The MIAX Member Firm Portal is an internet-facing portal which provides self-service functions to member firms.  The MFP will be available at all times except during announced maintenance windows. Individuals requesting Member Firm Portal access must be authorized to act on behalf of their organization.

For further information and to request access to the Member Firm Portal, please contact MIAX Trading Operations at TradingOperations@MIAXEquities.com or (609) 897-7302.

Regulatory questions should be directed to the Regulatory Department at (609) 897-7309 or Regulatory@MIAXEquities.com.