The Exchange has amended its rules governing Market Maker quoting obligations at the opening. Specifically, commencing February 12, 2013 Lead Market Makers (“LMMs”), including those appointed Primary Lead Market Maker (“PLMM”), will no longer be required to enter quotes before or during the opening process in their appointed option classes. By eliminating the specific obligations for PLMMs and LMMs to submit valid width quotes in connection with the opening process, MIAX now only requires continuous quoting during regular options trading after the opening process is complete.
Please refer to Regulatory Circular 2013-04 for more details.
