MIAX Options - Enhanced Risk Protections For MIAX Market Makers Aggregate Risk Manager (“ARM”) - Available September 1, 2015

MIAX has filed to amend Rule 612, Aggregate Risk Manager (“ARM2”) to provide Enhanced ARM Protections for Exchange Market Makers. Under the new rule, Market Makers may determine to engage either or both of the following Enhanced ARM Protections in the System:  the Class Protection feature and the Market Maker Firm Protection feature.

Please refer to the MIAX Regulatory Circular, MIAX_RC_2015_40, for further details.

The MIAX Options Rules are posted on the MIAX website at miaxoptions.com/regulatory.