Regulatory Alert, Trading Alert
MIAX Pearl
August 25, 2025 | 12:38 PM
MIAX Pearl Options Exchange - New Selective Liquidity Auto Purge (SLAP) Functionality Implementation on September 26, 2025
MIAX Pearl Options Exchange Rule 519C, Mass Cancellation of Trading Interest, has been amended to adopt Selective Liquidity Auto Purge (“SLAP”) functionality, to be implemented on September 26, 2025.
The SLAP feature, the use of which is optional, will provide more granular mass cancellation functionality by allowing users to mass cancel specific groups of orders as determined by the Member on an order-by-order basis.
For additional information regarding SLAP functionality, please refer to the following Regulatory Circular: