EDGX ExchangeSM (EDGX®) and EDGA ExchangeSM (EDGA®) are updating the behavior of the Route Peg Order. Route Peg Orders are non-displayed limit orders that are automatically pegged to the National Best Bid (NBB) for buy orders and National Best Offer (NBO) for sell orders, and execute against routable orders. Currently, Route Peg Orders are only eligible for execution against orders that are equal to or less than the original quantity of the Route Peg Order.
Effective as of the dates listed below, a Route Peg Order will now be eligible for execution against orders that are equal to or less than the aggregate size of the Route Peg Order interest at the NBB or NBO..
More Information
- Refer to EDGX Rule Filing SR-EDGX-2014-14.
- Refer to EDGA Rule Filing SR-EDGA-2014-12.
