Alerts

Full details can be found in the attached press release.

For further information, please visit www.MIAXOptions.com or contact MIAX Trading Operations at TradingOperations@MIAXOptions.com.

For corporate communications, contact Dominique Prunetti-Miller at (609) 897-1465 or dprunetti@miami-holdings.com. 
MIAX Press Release 04062021

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Effective April 1, 2021, the MIAX Pearl Equities Fee Schedule will be amended to lower the fee to remove liquidity in securities priced at or above $1.00 to $0.0025 per share for all Tapes.

A summary of the April 1, 2021 transaction fee changes is attached.  For full details, please review the April 1, 2021 MIAX Pearl Equities Fee Schedule when posted on the MIAX website at miaxoptions.com/fees/pearl-equities.

For additional information, please contact MIAX Sales at Sales@MIAXEquities.com or (609) 897-8177.

If you need assistance, please contact MIAX Trading Operations at TradingOperations@MIAXEquities.com or (609) 897-7302.
MIAX Pearl Equities Highlighted Fee Changes 04012021

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Full details can be found in the attached press release.

For further information, please visit www.MIAXOptions.com or contact MIAX Trading Operations at TradingOperations@MIAXOptions.com.

For corporate communications, contact Dominique Prunetti-Miller at (609) 897-1465 or dprunetti@miami-holdings.com. 
MIAX Press Release 03292021

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Please be advised MIAX Options, MIAX Pearl Options, MIAX Emerald Options and MIAX Pearl Equities Exchanges will be closed on Friday, April 2, 2021 in observance of Good Friday.  Weekly Options Expiration for the week ending Friday, April 2, 2021 will take place on Thursday, April 1, 2021.

If you have any questions please contact Trading Operations at TradingOperations@MIAXOptions.com  or (609) 897-7302.

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

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MIAX Pearl Equities Exchange proposes, pending SEC review, to adopt the Reserve Quantity order type instruction.  The Reserve Quantity instruction would enable market participants to specify that a portion of their order be displayed and another portion of their order be non-displayed. The Reserve Quantity instruction will also allow market participants to select between Fixed or Random Replenishment to replenish the displayed portion of the order.
 
MIAX Pearl Equities plans to launch the Reserve Quantity order type instruction, along with the previously announced Minimum Execution Quantity (“MEQ”) order type instruction, in July 2021. The updated Interface Specifications and the MIAX Exchange Group Connectivity Guide were published on March 18th, 2021. An updated version of the Order Type Combinations Guide is available under the MIAX Knowledge Center. MIAX Pearl Equities’ related rule filings are available here: SR-PEARL-2021-07 and SR-PEARL-2021-09

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

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.

 

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MIAX Exchange Group Updated Market Data Policies and Schedule B – Data Feed Request Form
 
The MIAX Exchange Group has amended its Market Data Policies (“Policies”) relating to the usage and distribution of MIAX Exchange Group Market Data and will make various updates to the Schedule B – Data Feed Request Form (“Schedule B”).  These amendments are effective immediately for new Market Data Subscribers, and will become effective on May 21, 2021 for existing Market Data Subscribers, which is 60 days from the date of this notice.
 
Uncontrolled Distribution Requirement
 
The Policies have been updated to provide for the uncontrolled distribution of MIAX Exchange Group Market Data.
 
The updates define an “Uncontrolled Data Distributor” as a “Data Recipient that is authorized by the Exchange to distribute Market Data externally to a Person who is not an affiliate of the Data Recipient where the Data Recipient does not control the entitlement of and display of information to such Person.”
 
The updates require each Uncontrolled Data Distributor to complete and submit an Exchange Data Agreement and a Schedule B. The Schedule B will require the following additional information: 

• The earliest date upon which one or more Persons will receive any Exchange Market Data from the Uncontrolled Data Distributor (installation date) 
• Describe to whom/how the Uncontrolled Data Distributor will be distributing the data in an uncontrolled manner

 After the required documents have been completed, the prospective Uncontrolled Data Distributor must submit the required documents to the Exchange (as described in the Policies and Agreement) for approval. The Exchange will review the documents and may contact the Uncontrolled Data Distributor directly for additional information.
 
Upon approval, the Exchange will notify the Uncontrolled Data Distributor via email. Once approved by the Exchange, the Uncontrolled Data Distributor is authorized to provide the approved Exchange Market Data to one or more Persons.
 
Exchange Data Agreement
 
The Exchange Data Agreement (“Agreement”) was modified on September 1, 2020 to include the following language regarding Modifications:
 
“Except as may otherwise be set forth in this Agreement, the Exchange or its affiliates may amend this Agreement, the Exchange Market Data Policies (i) upon sixty (60) days prior written notice to Data Recipient, and any receipt or use of Market Data after such date is deemed acceptance or (ii) by posting the amendment to the Exchange’s website and any receipt or use of Market Data after sixty (60) days of the posting date is deemed acceptance. In no event shall the Exchange provide one Data Recipient with a notice period under an Agreement that is shorter than the notice period provided by the Exchange to any other Data Recipient.”
 
If your firm executed an Agreement after the September 1, 2020 update, there is no need to re-execute a new Agreement to become subject to the Amendments regarding Uncontrolled Data Distribution. However, if your firm desires to re-execute the Agreement, please submit a new fully-executed copy of the Agreement to MarketData@MIAXOptions.com. If, as a result of the Amendments or otherwise, your firm desires to terminate the Agreement, your firm must provide not less than 30 days’ prior written notice to MarketData@MIAXOptions.com pursuant to Section 14. Term and Termination of the Agreement.
 
If your firm executed an Agreement prior to the September 1, 2020 update, and wishes to act as an Uncontrolled Data Distributor, your firm will need to execute a new revised Agreement to become subject to the Amendments regarding Uncontrolled Data Distribution.
 
Except as expressly provided herein, all of the terms and provisions of the Agreement are and will remain in full force and effect.
  
Additional Information
 
Please review the attached clean and highlighted versions of the amended Policies and Schedule B. The amended versions of these documents are also available for use on our website.
 
Please contact MarketData@MIAXOptions.com for any additional information regarding these changes.
MIAX Exchange Group Data Agmt SchB Data Feed Request March 2021 Highlighted MIAX Exchange Group Market Data Policies March 2021 Clean MIAX Exchange Group Data Agmt SchB Data Feed Request March 2021 Clean MIAX Exchange Group Market Data Policies March 2021 Highlighted

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MIAX Pearl Equities (EPRL) has published updated MIAX Express Order (MEO) Interface and FIX Order Interface (FOI/FXD) specifications to support Minimum Qty and Reserve orders. A new specification 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.

The changes planned for each specification are as follows:

• MIAX Express Orders (MEO) – v2.0
  • Added new message types for New Order Request, Modify Order Request, New Order Notification and Modify Order Notification to support Minimum Qty and Reserve orders. These messages are similar to corresponding messages in previous version of the interface but have new fields and additional reserved bytes at the end of the message
  • Added new Status codes to New Order Response and Modify Order Response messages to support Minimum Qty and Reserve orders
  • Added a new Reserve Order Replenishment Notification message
  • Added a 3 byte Liquidity Indicator field at the end of the Execution Notification message using existing reserved bytes. This replaces the existing 1 byte Liquidity Indicator field. Added a note to refer to the Liquidity Indicator Codes specification document for the list of codes
• FIX Order Interface (supports both FOI and FXD) – v2.0
  • Added support for Minimum Qty and Reserve orders in New Order – Single, Order Cancel/Replace Request and Execution Report messages
  • Added a note for TradeLiquidityIndicator field in the Execution Report message to refer to the Liquidity Indicator Codes specification document for the list of codes
• Liquidity Indicator Codes – v1.0
  • New specification document that provides the complete list of Liquidity Indicator Codes that can be sent over MIAX Pearl Equities FIX Order Interface (FOI), FIX Drop (FXD) and MIAX Express Orders Interface (MEO). Members are expected to be able to handle and process, as required, liquidity codes listed in this specification over any of their sessions of these interfaces

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

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 above features will be available in EPRL Firm Test Bed (FTB2) on April 26, 2021
• The above 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.

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.

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MIAX Pearl Equities has received approval from the Securities and Exchange Commission to incorporate by reference existing rules of the Financial Industry Regulatory Authority (“FINRA”) and/or Miami International Securities Exchange, LLC (“MIAX”), an affiliate of MIAX Pearl.

Please refer to MIAX Pearl Equities Regulatory Circular 2021-02 for more details.

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

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MIAX Pearl Equities Exchange is introducing a new daily Member Tier Report that firms can use to track their aggregate volumes and performance.

For additional details on the Member Tier Report, please contact Sales at sales@MIAXEquities.com, (609) -897-8177 or visit MIAXEquities.com.

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


 

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MIAX Pearl Equities have declared self-help on the LTSE as of 12:02.

All MIAX systems are operating normally.

If you have any questions please contact Trading Operations at (609) 897-7302 or TradingOperations@MIAXEquities.com.

Regulatory inquiries should be directed to Regulatory@MIAXEquities.com.

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