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Thursday, July 12, 2018

Options Technical Update #2018 - 13
Nasdaq ISE, GEMX, and MRX Update OTTO Specifications for PIM Responses


  • System Impact

Markets Impacted:

Contact Information:


Nasdaq ISE (ISE), Nasdaq GEMX (GEMX), and Nasdaq MRX (MRX) will update the OTTO 2.1.3 specifications to support additional Order Capacities within the auction response to the Price Improvement Mechanism (PIM). Currently, OTTO prevents PIM responses with an Order Capacity of “B” (Broker-Dealer – Customer) or “O” (Other-Exchange Registered Market Maker). With this enhancement, there will be no Order Capacity restriction for PIM responses.

This enhancement impacts both the New Order – Long and New Order – Short messages for both simple and complex PIM auction responses, and will be implemented on the following dates:

ISE: Monday, July 30
GEMX: Wednesday, August 1
MRX: Friday, August 3

Please contact Market Operations at +1 215 496 1571 with any questions.

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