Thursday, July 19, 2012
Options Trader Alert #2012 - 47
NASDAQ OMX PHLX Updates Auction-Eligible Timing of Complex Orders
What you need to know:
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.
About the NASDAQ OMX Group: The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with more than 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit www.nasdaqomx.com.