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Friday, June 16, 2017

Options Regulatory Alert #2017 - 29
ISE and GEMX Bid/Ask Differentials for "NDX" and ISE, GEMX and MRX "PCLN" Option Classes through July 22, 2017

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  • Regulatory

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The below market maker quote width requirements for options overlying NDX on Nasdaq ISE (ISE) and Nasdaq GEMX (GEMX) and for options overlying PCLN on ISE, GEMX and Nasdaq MRX (MRX) will be effective through July 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, GEMX and MRX bid/ask differentials for “NDX" option classes electronic opening is 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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