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Regulatory Alert, Trading Alert

MIAX Sapphire

September 09, 2025 | 04:15 PM

MIAX Sapphire Options Exchange - Reminder for Trading Floor Participants - Complex Orders

Complex Orders, including Stock-Option Orders, are available to trade on MIAX Sapphire Options for all symbols traded on MIAX Sapphire Options.

For Complex Orders and Stock-Tied Complex Orders:

  • The maximum number of components (legs) per Complex Option Order is twelve (12).
  • The maximum number of components (legs) per Stock-Tied Complex Option Order is thirteen (13), twelve (12) option legs and one (1) underlying stock leg.
  • The maximum number of new complex strategies that may be in the system at a particular time is 1,000,000 per cloud.
For more information please see MIAX Sapphire RC-2025-86.

For questions regarding Complex Order functionality, please contact Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302.

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