MIAX Options Exchange - Complex Auction Allocation Priority Change - Effective August 21, 2019

Effective Wednesday, August 21, 2019, MIAX Options Exchange will use the less aggressive of the Complex Order’s original limit price or the Complex Order’s protected price at the conclusion of Complex Auctions and upon evaluation after ABBO uncrossings during regular trading to determine allocation priority.

Please refer to the MIAX Options User Manual on the MIAX Options website for definitions and details about protected prices.

Important Notes:

• This enhancement is currently available in MIAX Firm Test Bed # 2 (FTB2) environment
• This will be the default behavior and therefore, firms are not required to take any action or certify
• All specifications are currently available at MIAX Options Interface Specifications