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Product LoginTuesday, July 12, 2016
Options Regulatory Alert #2016 - 24
NOM and BX Options Risk Mitigation Allowance of Less than 100%
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Effective immediately, the Nasdaq Options Market (NOM) has received approval to amend NOM Rule Chapter VII, Section 6(f), entitled “Automated Removal of Orders and Quotes” and Nasdaq BX Options (BX Options) has received approval to amend BX Options Rule Chapter VII, Section 6(f), entitled “Automated Removal of Quotes”. This amendment allows a NOM and BX Options Market Maker to establish a specified percentage of no less than 1% for which Rapid Fire will be applied in an option in which the Market Maker is appointed. Prior to this rule change, Market Makers were restricted to establishing specified percentages of no less than 100%. The Exchange established default percentage and default time period will remain at 100% and 15 seconds respectively for Market Makers that have not, otherwise, established a specified percentage and/or volume for a specified time period. Any Market Maker that wishes to change their existing settings may contact NOM Market Operations or BX Options Market Operations. |
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