Futures

MIAX Futures will participate in the industry-wide Futures Industry Association (“FIA”) Disaster Recovery (“DR”) test on Saturday, October 25, 2025. All MIAX Futures Clearing Members are required to participate in the test as described below, including entering trades on both MIAX Futures Onyx and the MIAX Futures Clearing System (“MCS”), as well as retrieving the corresponding trade file (TREX) and sending confirmation to MIAX Futures. Failure to participate in the DR test will result in disciplinary action. In addition, although your firm may work with a technology vendor to complete required test components, each Clearing Member is responsible for certification of final test results.

Clearing Members must complete the following four test components during the DR test:

1. Trade Entry – MIAX Futures Onyx Trading Platform
   1. All Clearing Members must send at least two orders and receive at least one execution confirmation.
   2. Products:
      1. Hard Red Spring Wheat Futures (MWE) i.e. MWEZ5
      2. Hard Red Spring Wheat Options (OMW) i.e. OMWZ5 C0750
   3. Prices in MIAX Futures products should be at the previous day’s settlement price to ensure your orders match with other participants.
   4. October 25, 2025 Test Day Timeline:
      1. 7:30 AM CDT - Firms can connect to the Trading Systems and enter Orders
      2. 8:00 AM CDT - Live Order Window will open
      3. 8:30 AM CDT – Opening
      4. 12:00 PM CDT – Closing
   5. MIAX Futures will provide updates as to exact Pre-Open and open times via the FIA conference bridge available.
   6. Once a firm has completed testing, please confirm with MIAX Futures Trading Operations at MIAXFuturesTradingOperations@miaxglobal.com.
2. Trade Entry – MIAX Futures Clearing System
   1. In addition to entering trades on Onyx, Clearing Members must enter an ex-pit transaction (EFP/EFR/Block) via MCS. Clearing Members should simply enter both sides of the transaction to ensure a successful match occurs in MCS for this portion of the test.
   2. Hard Red Spring Wheat Futures (W) i.e. W 12 24 (commodity, month, year)
   3. Hard Red Spring Wheat Options (WC or WP) i.e. WC 12 24 750 (comm., mth, yr, strike)
   4. Clearing Members should use October 27 for the trade date.
3. Post Trade Documentation – MIAX Futures TREX trade file
   1. Trades entered into Onyx and MCS during the exercise will be processed by the MIAX Futures Clearing House, and Clearing Members must download the corresponding TREX trade file. Clearing Members will utilize the MIAX Futures DR SFTP server to retrieve the TREX files. The trade file name will correspond with the new convention being used today, i.e. – TRXzz_yyyymmdd.txt (where zz equates to the Clearing Firm code & yyyymmdd equals trade date).
4. Post Trade Documentation – Submit to MIAX Futures
   After completing the above steps, Clearing Members must submit the SFTP file available via the MIAX Futures DR SFTP site to MIAX Futures by emailing MIAXFuturesClearingOperations@miaxglobal.com. Upon submitting, MIAX Futures staff will inform the Clearing Member whether they have successfully completed the FIA DR test for MIAX Futures or if further action is required.

MIAX Futures Testing Contacts

1. On the test day, please contact the MIAX Futures Clearing House at MIAXFuturesClearingOperations@miaxglobal.com or (612) 321-7146 if you have any questions concerning the test or participation with MIAX Futures. Staff will be monitoring the FIA Conference Bridge phone for any inquiries.

For more information, please contact MIAX Futures Clearing Operations at MIAXFuturesClearingOperations@miaxglobal.com or (612) 321-7146.

To learn more about MIAX Futures, please contact MIAXFutures@miaxglobal.com.

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