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Friday, December 21, 2018

Options Regulatory Alert #2018 - 40
ISE, GEMX and MRX Amends Primary Market Maker Allowance for Trading in Non-Appointed Options Classes


  • Regulatory

Markets Impacted:

Contact Information:


Effective December 19, 2018, Nasdaq ISE, LLC (ISE), Nasdaq GEMX, LLC (GEMX) and Nasdaq MRX, LLC (MRX) amended the total number of contracts that a Primary Market Maker (PMM) is permitted to execute in non-appointed options classes from 10% to 25% of the PMM’s total number of contracts executed.

Specifically, the total number of contracts executed during a quarter by a PMM in options classes to which it is not appointed may not exceed twenty-five percent (25%) of the total number of contracts traded per PMM Membership.

This proposal will align the PMM allowance with the current Competitive Market Maker (CMM) allowance on ISE, GEMX and MRX. Today, CMMs are permitted to execute a total number of contracts in non-appointed options classes up to 25% of the CMM’s total number of contracts executed.

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