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As announced in Direct Edge Trading Notice #12-64, Direct Edge identified a discrepancy between the EDGA Exchange (EDGA®) order priority rule, EDGA Rule 11.8(a), and existing functionality that may occur with certain sell orders during a locked market. This notice confirms that we have successfully tested and implemented system changes on EDGA to ensure orders are assigned priority precisely as set forth in EDGA Rule 11.8(a), effective for trading on January 14, 2013.
The discrepancy that occurs during crossed markets on EDGA and EDGX Exchange (EDGX®), which was originally expected to be implemented on or about February 4, 2013, is now scheduled to be implemented on or about February 15, 2013. The additional time will be used for further testing of the system change prior to implementation.
More Information
- Refer to the original notice: Direct Edge Trading Notice #12-64.
