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NASDAQ OMX PHLX (PHLX)

NASDAQ OMX PHLX (PHLX) trades more than 3,000 equity options, index options and U.S. dollar-settled currency options on NASDAQ OMX's high-speed INET technology. PHLX offers a combination of cutting-edge electronic and floor-based trading, utilizing a Customer-priority, pro rata allocation to ensure fast and efficient executions.

Features and Functionality

The PHLX trading system maximizes liquidity, encourages price competition and rapidly executes orders of all sizes. Operating on a state-of-the-art, high-performance and low-latency INET trading platform, PHLX offers sophisticated and innovative functionality to market participants.

Functionality Highlights

  • High-speed automated opening provides access to additional liquidity and superior execution quality by limiting the range of allowable opening prices and allowing layered Opening Sweeps.
  • Complex Order System automates the process for handling and executing option orders of up to six legs, or five-legged options and one stock component. Click here for more details.
  • Flexible Routing Strategies: By utilizing FIND, SRCH (Search) and DNR (Do Not Route), participants can control how their orders are routed.
  • PIXL (Price Improvement on XL) is the electronic price improvement mechanism which allows an initiating member to submit a two-sided order into an auction process soliciting price improvement. PHLX uniquely allows all participants to respond to the auction and offers a "No-Worse-Than" price designation.

Products

Education

The Market Street Educational Series


Looking for more information on our products and services? Participate in our web seminar series to learn more about NASDAQ OMX Options & Futures offerings and initiatives. Click here to get the details on our next web seminar or to access past events.

Connectivity

The following protocols are available for accessing PHLX:

Market Data

NASDAQ OMX offers the following proprietary data products to support PHLX:

To subscribe to any of our market data products, please contact your NASDAQ OMX Global Data Products Account Manager at +1 301 978 5307 or visit the Global Data Products Administration page to complete the appropriate agreements and forms.

System Status

Sep 24, 2014 00:23:28 ET

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Contact Us

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