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Thursday, November 13, 2014

Options Technical Update #2014 - 7
BX Options, NOM, and PHLX Updates Technical Specifications to Support Additional Features

Category:

  • System Impact
  • New Functionality

Markets Impacted:

Contact Information:

Resources:

BX Options, NOM, and PHLX are updating the Specialized Quote Feed (SQF) and OUCH to Trade Options (OTTO) Specifications to support new Purge, Reject, and Reentry codes. The new codes will be utilized by the new Risk Monitor Mechanism and Kill Switch features which are expected to be deployed in early January 2015, pending SEC approval.

The SQF Specification has been updated to include a new:

  • Rapid Fire with Volume Notification message
  • Rapid Fire with Volume Control Request message
  • Reject reason of “K” for Kill Switch Reentry Required for quote reject
  • Reject reason of “K” for Kill Switch Reentry Required for sweep reject
  • Underlying Purge Reason of “K” and “M” for Auto Kill Switch and Manual Kill Switch respectively
  • Market Reentry Reject Reason of “K” for Kill Switch Reentry Required Field in Market Reentry Notification named “Reentry Scope” to indicate a “K” for Kill Switch scope (utilizing a previously reserved field at offset 27)

The OTTO Specification has been updated to include additional:

  • Risk Protection Trigger types “K” and “M” for Auto Kill Switch and Manual Kill Switch respectively
  • Risk Protection Reset Notification type of “K” for Kill Switch scope
  • Reject reason of “K” for Kill Switch Reentry Required
  • Reject Risk Protection Control reason of "K" to indicate Kill Switch Risk Protection is in effect and requires manual reset

 

 

 

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