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Thursday, July 19, 2012

Options Trader Alert #2012 - 47
NASDAQ OMX PHLX Updates Auction-Eligible Timing of Complex Orders

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What you need to know:

  • Effective Monday, July 23, 2012, PHLX is changing the time in which Complex Order Live Auction (COLA) Eligible Orders may initiate an auction when received during the final seconds of a trading session.
  • A COLA will not be initiated in the last three seconds of a trading session.

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?


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