Market Maker Minimum Quote Size Requirements
Pursuant to MIAX Sapphire™ Rule 605(a), MIAX Sapphire has determined a Market Maker’s bid and offer for a series of options contracts shall be accompanied by the number of contracts at that price the Market Maker is willing to buy or sell. The best bid and best offer entered by a Market Maker must have a size of at least one (1) contract.
Market Maker Requirements
Pursuant to MIAX Sapphire Rules 604 and 605, MIAX Sapphire has established minimum requirements for Market Maker quoting and trading in assigned classes. The document below is a summary of MIAX Sapphire Market Maker requirements currently in effect at the exchange.
Market Maker Quote Width Requirements
Pursuant to MIAX Sapphire Rule 519(a)(2)(ii), MIAX Sapphire has designated certain classes as Extended Width Classes and such classes will be exempt from the MIAX Sapphire Order Monitor maximum differential between the bid and ask of the NBBO as described in MIAX Sapphire Rule 519(a)(2)(i).