Futures

The MIAX Futures Exchange has published updated Interface Specifications for the MIAX Futures Onyx Trading Platform to support upcoming enhancements for:

• Commodity Futures (CH4) on the evening of September 27, 2026 for the September 28, 2026 trade date
• Financial Futures (NY5) in Q4 2026, final date to be announced via a future alert

All enhancements related to the Depth of Market (DoM) and Top of Market (ToM) Feed will be mandatory. Firms will be required to cut over to the updated protocol version on the day that the functionality is live on the platform.
 
A MIAX Futures Onyx 2026 Release Guide has been published on the website and is also attached to this Alert.

1. New Features
   1. Commodity Futures:
      1. Market-Limit Order
      2. Market Order with Protection
      3. Stop Market Order with Protection
      4. Complex Settlement Price EOD Dissemination
      5. Reserve Order
      6. Trading at Settlement (TAS)
      7. Cross Product Spreads
      8. Active/Inactive Instrument demarcation on Market Data to denote new upcoming Products as “Inactive”
   2. Financial Futures:
      1. Reserve Order
      2. Basis Trade at Index Close (BTIC)
      3. Cross Product Spreads
      4. Active/Inactive Instrument demarcation on Market Data to denote new upcoming Products as “Inactive”
2. Important Dates:
   1. Commodity Futures (CH4) FTB2 Test Area Enhancements will be available week of June 29, 2026
   2. Financial Futures (NY5) FTB2 Test Area Enhancements will be available week of June 29, 2026
   3. Commodity Futures (CH4) Enhancement Launch on the evening of September 27, 2026 for the September 28, 2026 trade date
   4. Financial Futures (NY5) Enhancement Launch in Q4 2026, final date to be announced via a future alert
3. Updated Interface Specifications:
   1. Depth of Market (DoM) Feed – Version 1.3 (Mandatory Upgrade)
      1. Updated Simple Instrument Definition including new fields and values
      2. Replaced legacy Complex Instrument Definition with new, expanded version of same message
      3. Added new values to existing fields in multiple messages
   2. Top of Market (ToM) Feed – Version 1.3 (Mandatory Upgrade)
      1. Updated Simple Instrument Definition including new fields and values
      2. Replaced legacy Complex Instrument Definition with new, expanded version of same message
      3. Added new values to existing fields in multiple messages
   3. FIX Order Interface Specification (FOI) – Version 1.3 (Optional Upgrade)
      1. Updated New Order - Single to include new fields
      2. Updated Order Cancel/Replace Request to include new field
      3. Updated Execution Report including new fields and values
      4. Updated Security Definition with new values
      5. Updated Trade Cancel/Correct with new values
      6. Updated Order Mass Cancel Request with new values
      7. Updated FXD Security Definition including new fields and values
   4. Futures Express Interface Specification (FEI) – Version 1.3 (Optional Upgrade)
      1. Updated New Order Request including new fields and values
      2. Added new reject reasons to New Order Response and Modify Order Response
      3. Updated Modify Order Request to include new field
      4. Updated New Order Notification including new fields and values
      5. Updated Modify Order Notification to include new field
      6. Added new message Reserve Order Replenishment Notification
      7. Updated Simple Execution Notification to include new field
      8. Updated Complex Execution Notification to include new field
      9. Replaced legacy Mass Cancel Request with new, expanded version of same message
      10. Updated Strategy Creation Response to remove an error code
4. MIAX Futures Onyx Resources:
   1. Please visit the MIAX Futures Onyx site for the most recent information
   2. Onyx Interface Specifications
   3. Onyx Functionality
   4. Onyx Trading Connectivity
   5. Onyx Market Data & Vendor Agreements
   6. Onyx Approved Vendors
   7. Onyx Audit Trail Requirements
   8. Onyx Trading Platform Access & Preferred Rate Program
   9. Onyx Listings
   10. Onyx Product Settings
   11. MIAX Futures Fees

For additional information, please contact MIAX Futures Trading Operations at MIAXFuturesTradingOperations@miaxglobal.com or (609) 897-7303.

To learn more about MIAX Futures please contact Sales@miaxglobal.com or (609) 897-8177 or visit miaxglobal.com.

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