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Friday, March 17, 2017

Options Regulatory Alert #2017 - 10
ISE Bid/Ask Differentials for "NDX" and "PCLN" Option Classes through April 22, 2017

Category:

  • Regulatory

Markets Impacted:

  • ISE
  • ISE Gemini
  • ISE Mercury

Contact Information:

Resources:

The below market maker quote width requirements for options overlying NDX on ISE and ISE Gemini and for options overlying PCLN on ISE, ISE Gemini and ISE Mercury will be effective through April 22, 2017. The Exchange may, in its discretion, amend the bid/ask differentials by providing notice to members.

The bid/ask differentials for "NDX" and "PCLN" option classes electronic quotes are as follows:

  • If the bid is under $20, the bid/ask spread may be up to $5 wide.
  • If the bid is from $20 to $39.90, the bid/ask spread may be up to $6 wide.
  • If the bid is from $40 to $79.90, the bid/ask spread may be up to $12 wide.
  • If the bid is from $80 to $199.90, the bid/ask spread may be up to $18 wide.
  • If the bid is from $200 or greater, the bid/ask spread may be up to $22 wide.

The ISE, ISE Gemini and ISE Mercury bid/ask differentials for “NDX" and "PCLN" option classes electronic opening are as follows:

  • If the bid is under $2, the bid/ask spread may be up to $0.75 wide.
  • If the bid is from $2 to $4.90, the bid/ask spread may be up to $1 wide.
  • If the bid is from $5 to $9.90, the bid/ask spread may be up to $1.50 wide.
  • If the bid is from $10 to $19.90, the bid/ask spread may be up to $3 wide.
  • If the bid is from $20 to $39.90, the bid/ask spread may be up to $6 wide.
  • If the bid is from $40 to $79.90, the bid/ask spread may be up to $12 wide.
  • If the bid is from $80 to $199.90, the bid/ask spread may be up to $18 wide.
  • If the bid is from $200 or greater, the bid/ask spread may be up to $22 wide.

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