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Trading Alert, Regulatory Alert

MIAX Sapphire

May 07, 2026 | 12:59 PM

MIAX Sapphire Options - New Selective Liquidity Auto Purge (SLAP) Functionality Implementation Date

A proposed rule change to MIAX Sapphire Exchange Rule 519C, Mass Cancellation of Trading Interest, to adopt Selective Liquidity Auto Purge (SLAP) functionality, will be implemented on June 13, 2026.

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 more information, please refer to the following Regulatory Circular:

Direct Regulatory questions to the Regulatory Department at Regulatory@miaxglobal.com or (609) 897-7309.