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Product LoginThursday, June 18, 2009
Options Trader Alert #2009 - 22
Additional Symbols to be Migrated to Trade on the PHLX XL II Platform
Markets Impacted:
- NASDAQ OMX PHLX
Contact Information:
- NASDAQ Subscriber Services at +1 212 231 5180
- Transaction Services U.S. Market Sales at +1 800 846 0477
What you need to know:
- Effective Tuesday, June 23, 2009, 31 securities will migrate to the new PHLX XL II trading platform.
- Effective Wednesday, June 24, 2009, PHLX will migrate trading in SPY options to the XL II system.
What is PHLX XL II?
As announced in Options Trader Alert #2009-17, on Friday, June 5, 2009, NASDAQ OMX PHLXSM (PHLXSM) launched PHLX XL II (XL II), a re-platformed, enhanced version of the PHLX XL® (XL®) system.
What is changing?
Effective Tuesday, June 23, 2009, PHLX will migrate trading in 31 underlying securities from the XL system to the new XL II platform. The underlying symbols are:
| AB | AGO | APU | BJS | CAM | COCO | XDE |
| ABX | AMTD | ASF | BKS | CB | COL | |
| ACGL | ANGO | ATN | BLL | CBI | COST | |
| ACS | ANN | BARE | BWP | CCK | CRS | ADTN | APD | BDX | BXP | CLR | DSX |
Effective Wednesday, June 24, 2009, PHLX will migrate trading in SPY options to the XL II system.
How will Good-til-Cancelled orders be treated?
All Good-til-Cancelled (GTC) orders in these underlying symbols will be cancelled by PHLX after the close on the trading day before the migration. Firms will receive a “UR Out” message from the Exchange when the orders are cancelled. Firms will need to re-enter their GTC orders prior to the open on the day of the migration.
Will the legacy system continue to run in a parallel period after the new system goes live?
The current PHLX XL system will remain active concurrently with XL II until the symbol-by-symbol roll out is completed in August 2009. However, when a symbol is migrated to XL II, it will cease trading on the current system.
Firms preparing for the new system should be sure not to eliminate their old processes until the roll out is complete.
Where can I find more information?
- Refer to the XL II FAQ document on the NASDAQ OMX Trader® website.
- Refer to Options Trader Alert #2009-17.
- Refer to Options Trader Alert #2009-18 for the XL II system settings.
- For additional questions, contact NASDAQ Subscriber Services at +1 212 231 5180 or Transaction Services U.S. Market Sales at +1 800 846 0477.
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