U.S. Options

Interface Specifications

Find more information on our U.S. options exchanges.

Back to MIAX Sapphire Options Exchange
MIAX Sapphire™ Options Interface Specifications

The MIAX Sapphire trading platform is built to meet the high-performance order processing demands unique to the U.S. options trading industry. In addition to providing exceptional throughput, low latency access and wire-order determinism, our interface solutions facilitate well-defined and easy-to-implement, industry-accepted approaches to integration with the trading platform. Support is provided by a knowledgeable staff to assist firms with the onboarding process, certification or recertification in the firm test bed environment or to answer questions in the production environment.

FIX ORDER INTERFACE (FOI) GATEWAY

The MIAX Sapphire high-speed FIX Order Interface gateway conveniently routes orders to our trading engines through a common entry point to our trading platform.

FIX Order Interface (FOI) v1.1a - Current Production Version

FIX Order Interface (FOI) v2.2 - Subsequent Release : Support for Floor Trading

MIAX FIX DROP (FXD)

The MIAX Sapphire FIX Drop is a messaging interface that provides real-time trade information corresponding to a firm’s orders.

FIX Drop Copy (FXD) v1.0 - Current Production Version

FIX Drop Copy (FXD) v2.0 - Subsequent Release: Support for Floor Trading

MIAX EXPRESS ORDER (MEO)

The MIAX Express Order interface is a feature-rich binary order interface that provides exceptional determinism, throughput and ultra-low latency to our execution engines.

MIAX Express Order (MEO) v1.1e -  Current Production Version

CLEARING TRADE DROP (CTD)

The MIAX Sapphire Clearing Trade Drop provides real-time clearing trade content to firms with the same ultra-low latency technology provided throughout our trading platform.

Clearing Trade Drop (CTD) v1.1 - Current Production Version

Clearing Trade Drop (CTD) v2.0 - Subsequent Release: Support for Floor Trading

TOP OF MARKET (TOM) FEED

Get the MIAX Sapphire BBO and Trade Report market data via our hyper fast Top of Market feed.

Top of Market Feed (ToM) v1.0 - Current Production Version

SAPPHIRE LIQUIDITY FEED (SLF)

The Sapphire Liquidity Feed is a high-speed, real-time feed that publishes all actionable orders in addition to Series Update, System State and Underlying Trading Status messages.

Sapphire Liquidity Feed (SLF) v1.0a - Current Production Version

COMPLEX TOP OF MARKET (CTOM) FEED

The Complex Top of Market (cToM) provides subscribers with the current Complex SBBO (cSBBO) and Strategy Last Sale prices for all active Strategies using MIAX’s high-speed technology platform.

MIAX Complex Top of Market (cToM) v1.0a - Current Production Version

TCP SESSION MANAGEMENT AND TRANSMISSION CHARACTERISTICS

The SesM – TCP specification defines the session management for TCP connections to our market.

SesM - TCP v1.1e

MULTICAST TRANSMISSION CHARACTERISTICS

The MIAX MACH protocol defines the handling of multicast transmissions from our market.

MACH v1.2e

Exchange Codes
OPRA Participant IDS
OCC SOSA CodeS
OPRA Participant ID AbbreviationSAPPHIRE
Market Identifier Code (MIC)SPHR
Bloomberg CodeUC

 

Interface Specifications Legal Disclaimer

These specifications are being provided to you strictly for informational purposes solely for the purpose of developing or operating systems for your use that interact with systems of MIAX Options®, MIAX Pearl®, MIAX Emerald® and MIAX Sapphire® (individually and together, "MIAX" or the "MIAX Exchange"). These specifications are proprietary to MIAX and constitute the intellectual property of MIAX. All title and intellectual property rights in and to the specifications is owned exclusively by MIAX and its parent and affiliates; other than as expressly set forth herein, no license or other rights in or to the specifications and intellectual property rights related thereto are granted to you. MIAX reserves the right to withdraw, modify, or replace the specifications at any time, without notice. No agreement is provided by MIAX regarding the level, scope, or timing of MIAX's implementation of the functions or features discussed in these specifications. THESE SPECIFICATIONS ARE PROVIDED TO YOU "AS IS", "WITH ALL FAULTS" AND MIAX DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS, IMPLIED, STATUTORY OR OTHERWISE TO THE SPECIFICATIONS. MIAX WILL NOT BE LIABLE FOR ANY INCOMPLETENESS OR INACCURACIES. MIAX WILL NOT BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES HOWEVER CAUSED, WHETHER IN CONTRACT, TORT OR UNDER ANY OTHER THEORY OF LIABILITY, RELATING TO THE SPECIFICATIONS OR THEIR USE, EVEN IF IT HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE. It is further agreed by you that, by using these specifications, you agree not to copy, reproduce, or permit access to the information contained in the specifications except to those with a need-to-know for the purposes stated above.

© 2024 Miami International Holdings, Inc. All Rights Reserved.

If you are a new subscriber please notify MIAX Trading Operations by sending the following information in an email to TradingOperations@miaxglobal.com:

  • Name
  • Title
  • Firm Name
  • Phone Number

By selecting the "I accept" button below, you agree that: (1) you have read the terms stated above; (2) you understand the terms stated above; (3) you intend to form a legally binding agreement by selecting such button; (4) you agree to abide by all the terms of the agreement stated herein, and (5) you are authorized to bind your firm/company.