MIAX Options is implementing a new Liquidity Exposure Process (LEP) for over-sized orders in Proprietary Products. Interest in Proprietary Products that would be posted, managed, or that would trade at a price more aggressive than the order’s protected price will be subject to the LEP for over-sized orders.
Additionally, the System will start a Liquidity Exposure Process timer, which is currently set to three (3) seconds.
LEP was implemented on Tuesday, February 19, 2019.
Please refer to MIAX Options Regulatory Circular 2019-12 for further details.
FTSE Mondo Visione Exchanges Index:
MIAX Options: Implementation Of Liquidity Exposure Process (LEP) For Over-Sized Orders In Proprietary Products
Date 19/02/2019
