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Product LoginTuesday, August 22, 2017
Options Regulatory Alert #2017 - 45
Nasdaq ISE, GEMX, and MRX Update on the Flash Auction
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With the completed migration to INET, the allocation of orders involved in a Flash Auction is now being performed in accordance with Rule 1901 Supplementary Material .02. Notice was provided on February 2, 2017 that the system was erroneously providing the Primary Market Maker (PMM) an enhanced allocation pursuant to Rule 713 Supplementary material .01(b) after customer orders and ahead of other non-customer interest which allocates pro-rata if the PMM is present at that price. This has been corrected with the migration to INET. All Flash Auction allocations are now performed properly, in accordance with Rule 1901 Supplementary Material .02, across all symbols on Nasdaq GEMX as of April 3, 2017, across all symbols on Nasdaq ISE as of July 31, 2017, and across all symbols on Nasdaq MRX as of August 21, 2017. |
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