Futures

As previously announced in the July 31, 2025 Alert, electronic trading of Minneapolis Hard Red Spring Wheat (HRSW) Options will be introduced on the new MIAX Futures Onyx Trading Platform, pending CFTC approval. Market data dissemination for Minneapolis HRSW Options will be introduced on the existing MIAX Futures Onyx Top of Market (“ToM”) Feed, Depth of Market (“DoM”) Feed, and FIX Order Drop Copy (“FXD”) Interface. Currently, no changes are being made to any of the production specifications to support Minneapolis HRSW Options. Firms will be able to enter orders and consume market data for Minneapolis HRSW Options without making a protocol change. All specifications, user guides and important dates for the launch of Minneapolis HRSW Options on MIAX Futures Onyx are included below. 
 
New Resources Available at MIAX Futures Onyx Listings:

1. HRSW Futures and Options CSV Samples (existing)
   1. Simple Instrument File: MIAX Futures Chicago Simple Instruments SAMPLE ONLY
   2. Complex Instrument File: MIAX Futures Chicago Complex Instruments SAMPLE ONLY
2. HRSW Options-only CSV Samples (new)
   1. Simple Instrument File: MIAX Options on Futures Chicago Simple Instruments SAMPLE ONLY
   2. Complex Instrument File: MIAX Options on Futures Chicago Complex Instruments SAMPLE ONLY
3. Firm Test Bed (FTB) CSV Sample (new)
   1. Simple FTB Instrument File: MIAX Options on Futures Chicago Simple Instruments FTB ONLY

Important Dates:

1. The FTB environment now supports testing of Minneapolis HRSW Options functionality.
2. The production go-live date for Minneapolis HRSW Options electronic trading is scheduled for Sunday, August 24, 2025, effective for trade date August 25, 2025.

 
Additional Resources:

1. Please visit our MIAX Futures Exchange Hub for the most recent information on the MIAX Futures Onyx Trading Platform – exact specification references are also provided below:
   1. MIAX Futures Onyx Interface Specifications (no change) 
   2. Updated MIAX Futures Onyx FAQs
   3. MIAX Futures Exchange Trading Connectivity Guide (no change)
   4. Updated MIAX Futures Onyx Listings  
   5. Updated MIAX Futures Onyx Product Settings
   6. Updated MIAX Futures Onyx User Manual
   7. Updated MIAX Futures Onyx Risk Protection Guide  
   8. Updated MIAX Futures Trading Hours and Holiday Schedule
   9. Updated MIAX Futures Onyx Audit Trail Requirements 

 
Important Details:

1. Minneapolis HRSW Options will be available for trading on the MIAX Futures Onyx Trading Platform.
2. The Market Identifier Code (MIC) for Minneapolis HRSW Options will be "XMGE."
3. All attributes for Minneapolis HRSW Options will be available via the ‘onyx_option_on_future_simple_instrument.csv’ CSV file on the MIAX Futures Listing page for Production. The following attributes will be captured in this file:
   1. Option Strike Price
   2. Option Strike Currency
   3. Option Type (i.e. Call or Put)
   4. Expiration Type (i.e. American-Style vs. European-Style)
   5. Underlying Futures Instrument ID
4. Please note that the ToM and DoM Market Data feeds, along with FXD will be updated in a future release to include options on futures product attributes directly in the Simple and Complex Instrument Definition messages. However, the Minneapolis HRSW Options Listings CSV Files noted above will be required for mapping these products until that release.

If you have any questions, please contact MIAX Futures Trading Operations at MIAXFuturesTradingOperations@miaxglobal.com or (609) 897-7303.

To register or revise MIAX Futures Alert subscriptions, visit MIAX Email Subscriptions.