Effective Wednesday, May 24, 2017, Nasdaq GEMX (GEMX) will triple the original electronic quote spread parameters for all option classes during the Opening Process, pursuant to GEMX Rule 803(b)(4). This represents a 50% increase from the current limits. The new preset Opening Valid Quote Widths are as follows:

• If the bid is under $2.00, the bid/ask spread may be .75
• If the bid is $2.00 to less than $5.00, the bid/ask spread may be 1.20
• If the bid is $5.00 to less than $10.00, the bid/ask spread may be 1.50
• If the bid is $10.00 to less than $20.00, the bid/ask spread may be 2.40
• If the bid is $20.00 and greater, the bid/ask spread may be 3.00
• Options with an expiration of more than 9 months away continue to be permitted a bid/ask spread of 5.00

GEMX Officials may also grant opening quote relief from the Opening Valid Quote Width requirements for both individual option classes as well as floor-wide relief for all option classes based upon specific criteria.

Officials may grant 2x wide relief of Opening Valid Quote Widths when one of more of the following conditions exist for an underlying security

• Pre-market price movement is greater than $10.00 from the previous day’s close
• Pending corporate actions with undisclosed or uncertain terms.
• Company or industry news with anticipated significant market impact
• Government news of a sensational nature

Officials will review each request separately and consider all of the factors associated with the aforementioned criterion. Requests to exceed 2x Opening Valid Quote Widths relief will be determined on a case by case basis.

Officials will grant floor-wide double-wide relief by 9:20 a.m. (ET) when the Standard and Poor’s Futures (S&P) indicate an opening of up or down greater than 2.25%.