MIAX Options Exchange MIAX Rule 530 Limit Up / Limit Down

MIAX Regulatory Circular 2013-16 describes MIAX Rule 530 for Limit Up / Limit Down.

The Exchange has submitted three rule filings (SR-MIAX-2013-07, SR-MIAX-2013-12, and SR-MIAX 2013-15) relating to the establishment of new Exchange Rule 530, Limit Up-Limit Down (“LULD”), and to amend Exchange Rule 521, Obvious and Catastrophic Errors,  in response to the Plan to Address Extraordinary Market Volatility Pursuant to Rule 608 of Regulation NMS (the “Plan”).  MIAX is not a Participant in the Plan because it does not list and trade NMS Stocks.  MIAX lists and trades options overlying NMS Stocks.

The Plan is scheduled to be implemented April 8, 2013.  The proposed rules discussed in this Circular are subject to the approval of the Securities and Exchange Commission (“SEC”).