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Product LoginThursday, July 19, 2012
Options Trader Alert #2012 - 47
NASDAQ OMX PHLX Updates Auction-Eligible Timing of Complex Orders
Markets:Contact Information:
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What you need to know:
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What is changing?
PHLX is changing the time in which COLA-Eligible Orders may initiate an auction when received during the final seconds of a trading session. Currently, the setting of this timer is ten seconds. Starting Monday, July 23, 2012, an otherwise COLA-eligible order will not initiate an auction in the last three seconds of a trading session.
Where can I find more information?
- Refer to PHLX Rule1080.08(e)(i)(B)(2)
- Contact Transaction Services U.S. Market Sales at +1 800 846 0477.
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