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Equity Trader Alert #2015 - 126
BX to Offer Market Maker Peg Order
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Subject to SEC approval, BX will offer a Market Maker Peg Order effective August 17, 2015.
Market Maker Peg Orders help Market Makers meet their quoting obligations under Rule 4613(a). Market Maker Peg Orders use BX pegging technology to maintain Market Maker attributable quotes within the thresholds set forth in Rule 4613(a) as market prices fluctuate. Each time a Market Maker Peg Order price is updated by the System, the order receives a new timestamp for priority purposes.
Upon execution Market Makers must submit a new Market Maker Peg Order to maintain their quote.
The Market Maker Peg Order type will be supported on the FIX and RASH protocols. Please check the |
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