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Product LoginMonday, March 16, 2020
Options Trader Alert #2020 - 8
Nasdaq PHLX to Allow Floor Brokers to Access Electronic Markets Via PHLX Trading Floor in Limited Circumstances
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As previously announced in Options Trader Alert #2020-7, beginning Tuesday, March 17, 2020, Nasdaq PHLX (Phlx) will suspend open outcry trading on the Phlx Trading Floor and operate fully electronic. Phlx will allow Floor Brokers to utilize the Phlx Trading Floor facility, in a limited capacity, to access the electronic market using the Floor Based Management System (FBMS). Pursuant to Options 8, Section 32, Phlx has determined to make all order types unavailable at this time with the exception of Section 32(e) Floor Qualified Contingent Cross Orders. Additionally, Floor Brokers may also continue to place orders on the limit order book electronically through the FBMS pursuant to Options 8, Section 28(g). Floor Brokers will not be permitted to transact other order types within Options 3, Section 32 through FBMS or any other means. Please contact Market Operations with any questions. |
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