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Product LoginMonday, November 19, 2018
Options Regulatory Alert #2018 - 36
Nasdaq PHLX Expands FBMS Snapshot Functionality
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Effective Monday, December 3, 2018, Nasdaq PHLX will expand the permissible use of Snapshot available through the Floor Based Management System (FBMS). Pursuant to newly approved PHLX Rule 1069, floor members are permitted to execute both simple and multi-leg orders in all symbols using the Snapshot feature. Previously, Snapshot was only available when executing simple orders, in options on Exchange Traded Funds (“ETFs”) included in the Options Penny Pilot Program, and multi-leg orders. As previously communicated, Snapshot is available to help effect transactions when market conditions or the complexity of an order make it impracticable to utilize the normal electronic order execution functionally. Snapshot use is closely monitored and members should be prepared to explain their use of the functionality upon request. Please contact U.S. Market Operations at +1 215 496 1571 with any questions. |
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