Regulatory Circular News Today

With some frequency, Katten attorneys field questions from clients about exchange rules on off-exchange execution of futures and options on futures.

<p>BOX Exchange LLC (the “Exchange”) is distributing this Regulatory Circular to remind Participants that under the new equalized cabling infrastructure, there is now a maximum number of production connections allowed per Participant. Further information can be found in the Network Connectivity Guide for BOX Options. As detailed in the Network Connectivity Guide, there are no limitations on connections to the test environments and the BOX disaster recovery systems.</...

<p>BOX Exchange LLC (the “Exchange”) is distributing this Regulatory Circular to inform Participants that message transmissions sent to BOX Options Market (“BOX”) systems should be complete and populated with valid data content.</p>

<p><span>The MIAX Options and MIAX Emerald Options Fee Schedules will be amended on January 1, 2022, pending filing with the SEC.</span></p>

<p><span>MIAX Options will extend the monthly Market Maker Incentive Program (the “Incentive Program”) for SPIKES Options until March 31, 2022. Please refer to </span><a href="https://www.miaxoptions.com/sites/default/files/circular-files/MIAX_Options_RC_2021_83.pdf" target="_blank">MIAX Options Regulatory Circular 2021-83</a><span> for details regarding the Incentive Program.</span></p>

MIAX Options Exchange - Updates To The SPIKES Special Settlement Auction Settlement Reference Price Opening Width And SPIKES Valid And Priority Quote Width Tables Date 19/04/2021 Due to sustained market volatility, MIAX Options will continue to use the Settlement Reference Price Opening Width and Valid and Priority Quote Width tables detailed in MIAX Options Regulatory Circular 2021-04 for opening the SPY May 21, 2021 options used in the April 21, 2021 SPIKES Special Settlement Auction. ...

Fill-Or-Kill Orders Will No Longer Be Supported On The MIAX Options Exchange Date On Monday, 4/12, FOK orders will be rejected on Cloud 21. On Tuesday, 4/13, FOK orders will be rejected on Clouds 18-20. On Wednesday, 4/14, FOK orders will be rejected on Clouds 1-8. On Thursday, 4/15, FOK orders will be rejected on Clouds 9-17 and 22-24.

MIAX Options Exchange - SPIKES Special Settlement Auction Settlement Reference Price Opening Width And Valid And Priority Quote Width Tables Used In The December 16, 2020 SPIKES Special Settlement Auction Date 14/12/2020 Due to sustained market volatility, MIAX Options will continue to use the Settlement Reference Price Opening Width and Valid and Priority Quote Width tables detailed in MIAX Options Regulatory Circular 2020-11 for opening the SPY January 15, 2021 options used in the Dece...