U.S. Options

As previously announced in the May 19, 2022 Alert, the MIAX Options Exchange published updated Interface Specifications and system enhancements.

Configurable by Request for Contra Liquidity Type Indicator beginning July 12, 2022: 

• FIX Interface Specification (FOI) - Version 2.6
  • Added Contra Liquidity Type to Additional Billing Parameters
• FIX Drop Specification (FXD) - Version 2.6
  • Added Contra Liquidity Type to Additional Billing Parameters
• CTD Interface Specification (CTD) - Version 2.6
  • Added Contra Liquidity Type to Additional Billing Parameters

Configurable by Request MEI Originator Port Entitlements Functionality beginning July 12, 2022:

• MIAX Express Interface Specification (MEI) - Version 2.9b
  • A new feature that allows users to receive notifications by request on the port through which liquidity was submitted.  It is highly recommended that Firms evaluate the new functionality to optimize notification processes.

Configurable by Request for MIAX Order Monitor (“MOM”) beginning July 12, 2022:

• Electronic Exchange Members may determine the pre-set value to be used as the threshold setting (“Threshold Setting”) for evaluating market orders to sell in zero bid series.
• The Exchange will establish a Threshold Setting of $0.10 to be used as the default value.

Complex Order Enhancements (awaiting SEC Approval for Debit/Credit Protection) will be activated at a future date:

• Initial (IIP), Upon Receipt (URIP) and Reevaluation (RIP) Improvement Percentage to use the cNBBO.
• Debit/Credit Protection for VSV, CSV, and BSV Sell Limit Orders.

Cleanup of Deprecated Fill-or-Kill (FOK) Functionality effective July 7th:

• FIX Interface Specification (FOI) - Version 2.6
  • Removed FOK TIF from New Order – Single, Order Cancel/Replace Request – Single, and Execution Report – Single or Multi-leg
  • Removed FOK Order Type
• FIX Drop Specification (FXD) - Version 2.6
  • Removed FOK TIF from Execution Report
  • Removed FOK TIF from Additional Billing Parameters
• CTD Interface Specification (CTD) - Version 2.6
  • Removed FOK TIF from Trade Message
• MIAX Order Feed Interface Specification (MOR) - Version 2.5b
  • Removed FOK Order Type
• MIAX Express Interface Specification (MEI) - Version 2.9b
  • Removed FOK Enhanced Quotes (eQuotes) reference

These features are currently available in the Firm Test Bed (FTB2) environment.

Please review the updated interface specifications for further details on the MIAX website at MIAX Options Exchange Specifications.

Please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302 to discuss any specific issues and to arrange interface testing.