Welcome to NASDAQtrader.com for Options and Futures
Search:
   

Friday, March 17, 2023

Options Regulatory Alert #2023 - 8
PHLX, ISE and GEMX - Bid Ask Differentials for NDX Option Class through June 16, 2023

Category:

  • Regulatory

Markets Impacted:

Contact Information:

Resources:

Effective Monday, March 20, 2022, the below market maker quote width requirements for options overlying NDX on Nasdaq PHLX (PHLX), Nasdaq ISE (ISE) and Nasdaq GEMX (GEMX) will be effective through June 16, 2023. The exchanges may, in their discretion, amend the bid/ask differentials by providing notice to members.

The PHLX, ISE, and GEMX bid/ask differentials for NDX option class for electronic opening Valid Width Quotes and PHLX open outcry quotes are as follows:

  • If the bid is under $2, the bid/ask spread may be up to $1.50 wide.
  • If the bid is from $2 to $4.90, the bid/ask spread may be up to $2.00 wide.
  • If the bid is from $5 to $9.90, the bid/ask spread may be up to $3 wide.
  • If the bid is from $10 to $19.90, the bid/ask spread may be up to $6 wide.
  • If the bid is from $20 to $39.90, the bid/ask spread may be up to $12 wide.
  • If the bid is from $40 to $79.90, the bid/ask spread may be up to $24 wide.
  • If the bid is from $80 to $199.90, the bid/ask spread may be up to $36 wide.
  • If the bid is from $200 or greater, the bid/ask spread may be up to $44 wide.

The PHLX*, ISE* and GEMX* bid/ask differentials for NDX option class electronic intra-day quotes shall be as follows:

  • If the bid is under $200, the bid/ask spread may be up to $20 wide.
  • If the bid is from $200 to $399.00 the bid/ask spread may be up to $22 wide.
  • If the bid is from $400 to $799.00, the bid/ask spread may be up to $50 wide.
  • If the bid is from $800 or greater, the bid/ask spread may be up to $200 wide.

Please note that a PHLX, ISE or GEMX index option series with an expiration of 12 months or greater has no bid/ask differentials requirements.

Please follow Nasdaq on Facebook RSS and Twitter.

Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.

View NASDAQTrader.com Mobile