U.S. Options

As previously announced in the May 20, 2025 Alert, MIAX Sapphire will be conducting a remote mock trading session on Saturday, June 7, 2025, in preparation for the launch of the trading floor on Tuesday, July 15, 2025, in Miami.

Test Day Timeline:

1. 08:30 a.m. – Pre-opening connectivity windows opens
2. 08:45 a.m. – Live Order Window (LOW)
3. 09:30 a.m. – Opening
4. 12:00 p.m. – Closing

Testing Suggestions:

1. FFOI Order Entry
   1. QFO
   2. Must Fill Quantity
   3. Complex QFO
   4. With stock
   5. With-out stock
   6. DCP
   7. QCC
   8. Complex QCC
   9. C2C
   10. Complex C2C
   11. Stock-tied FOG
   12. Stock-tied WEX
2. FBQI Queries
   1. Simple Depth
   2. Simple Top
   3. Complex Market
3. CTD
   1. Verify trades
   2. Member Firm Portal (MFP)
4. Post Trade Allocation
   1. Verification of trades
   2. Post Trade non-material changes
   3. Account
   4. Multi-account
   5. CMTA
   6. Origin
   7. Open/Close
   8. MPID
5. The following options will have resting liquidity
   1. AAPL–Dec 19 25-C-100.00
      1. $104.20 - $105.25
   2. AAPL–Dec 19 25-P-100.00
      1. $0.46 x $0.48
   3. SPY–Dec 19 25-C-655.00
      1. $7.20 - $7.25
   4. SPY–Dec 19 25-P-655.00
      1. $60.15 - $62.45

For additional information, please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302.

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

Sales inquiries should be directed to Sales@miaxglobal.com, (609) 897-8177 or visit miaxglobal.com.