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Options Regulatory Alert #2017 - 36
Nasdaq ISE and GEMX Update on the Price Improvement Auction Mechanism
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Effective with the migration to INET, the minimum price improvement requirement of Rule 723(b) relating to orders of less than 50 contracts submitted into the Price Improvement Auction Mechanism (PIM) is system enforced. Rule 723(b) has been system enforced across all symbols on GEMX as of April 3, 2017 and across all symbols on ISE as of July 31, 2017. The Exchange anticipates Rule 723(b) will be system enforced across all symbols on MRX in late August 2017. An update will be published providing participants with the exact date of full system enforcement. |
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