News Centre

MIAX Sapphire Options - Market Maker Aggregate Risk Manager Settings And Notification Instruction

Date 05/08/2024

The MIAX Sapphire Options system will maintain an MM Counting Program that will count the number of contracts executed by a Market Maker from an MM ARM Eligible Order (“MM ARM Contracts”) within a specified time-period that has been established by the Market Maker or as a default setting. The MM Specified Time Period cannot exceed 15 seconds whether established by the Market Maker or as a default setting. The Market Maker may also establish for each MM Option Class an MM Allowable Engagement Percentage. The Exchange will establish a default MM Specified Time Period and a default Allowable Engagement Percentage on behalf of a Market Maker that has not established an MM Specified Time Period or an MM Allowable Engagement Percentage.
 

MIAX Sapphire Order Monitor Protections

Date 05/08/2024

Should a Member fail to designate a value for any of the MIAX Sapphire Order Monitor protections, the default value listed below will be applied:

• Order Size Protection: 10,000 contracts
• Open Order Protection: 30,000 orders
• Open Contract Protection: 1,000,000 contracts

MIAX Sapphire Options Price Protection Process

Date 05/08/2024

Price protection prevents an order from being executed beyond the price designated in the order’s price protection instructions. Market participants may designate price protection instructions on an order-by-order basis within a minimum and maximum number of MPVs, from 0-20, away from the NBBO at the time of receipt, or the SBBO if the ABBO is crossing the SBBO, or the Opening Price for New Opening Orders.
 

MIAX Sapphire Options - Member Firm Portal Used As The Approved Electronic Interface For Performing Post-Trade Adjustments

Date 05/08/2024

Post-trade adjustments that do not affect the contractual terms of a trade are to be performed by the Exchange Member via an Exchange approved electronic interface, the Member Firm Portal (MFP).

MIAX Sapphire Options - Contrary Exercise Advice

Date 05/08/2024

MIAX Sapphire Options Exchange Members are required to submit Contrary Exercise Advices electronically to FINRA at EED@finra.org.

MIAX Sapphire Options - Obvious Error And Appeal Submission Of Notification

Date 05/08/2024

A party believing it participated in a transaction that was the result of an Obvious or Catastrophic Error must submit a notification to MIAX Sapphire Regulatory Control at Obvious Error Submission Form.

MIAX Sapphire Options - Market Maker Self-Assignment Process

Date 05/08/2024

A MIAX Sapphire Options Member that has qualified as a Market Maker may register to make markets in either an individual series of options or in a class of options.

MIAX Sapphire Options - Post Halt Notification

Date 05/08/2024

Beginning Monday, August 12, 2024, for a halt initiated by the System for MIAX Sapphire Options Exchange due to a regulatory halt, trading pause or market-wide trading halt, a Post-Halt Notification will be broadcast twenty seconds before trading will begin or resume.

Federal Reserve: Senior Loan Officer Opinion Survey On Bank Lending Practices

Date 05/08/2024

Release Dates 

Survey of up to eighty large domestic banks and twenty-four U.S. branches and agencies of foreign banks. The Federal Reserve generally conducts the survey quarterly, timing it so that results are available for the January/February, April/May, August, and October/November meetings of the Federal Open Market Committee. The Federal Reserve occasionally conducts one or two additional surveys during the year. Questions cover changes in the standards and terms of the banks' lending and the state of business and household demand for loans. The survey often includes questions on one or two other topics of current interest.

ETFGI Reports There Were 34 New Product Launches And 6 Product Closures Last Week In The Global ETFs Industry

Date 05/08/2024

ETFGI, a prominent independent research and consultancy firm specializing in providing subscription research on trends in the global ETFs industry, reports there were 34 new product launches and 6 product closures last week in the global ETFs industry, resulting in a net increase of 28 new products.