MIAX Pearl® Options Opening Process

Pursuant to MIAX Pearl Rule 503(b)(1), the specifics of the MIAX Pearl Options opening process can be found in the below attached documents.

The MIAX Pearl User's Manual describes the opening process utilized by the MIAX Pearl Systems and can be found in Section 6. The link to this manual can be found in the MIAX Pearl User’s Manual.

MIAX Pearl System Settings and definitions are described in the MIAX Pearl Exchange System Settings Document and can be found on the MIAX website here.

MIAX Pearl Opening Process and Pause timer are described in MIAX Pearl Regulatory Circular 2017-18.