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Monday, August 21, 2017

Options Technical Update #2017 - 40
Nasdaq MRX Introduces Quote Mitigation

Category:

  • System Impact

Markets Impacted:

Contact Information:

Effective Tuesday, August 22, 2017, Nasdaq MRX will introduce quote mitigation on outbound data to OPRA. The mitigation threshold will be set at 3%.

Quote mitigation is a process that controls the outbound flow of messages to OPRA by:

  • Prohibiting dissemination of an outbound quote message that has not been sent, but is about to be sent, if a more current quote message for the same series is available; and

  • Prohibiting dissemination of an outbound quote when the size associated with a bid or offer increases by an amount less than or equal to a percentage (never to exceed 20%) of the size associated with the previously disseminated bid or offer.

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