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Product LoginWednesday, February 25, 2009
Options Trader Alert #2009 - 7
The NASDAQ Options Market Reduces Order Exposure Requirement From Three Seconds to One Second
Markets Impacted:
- The NASDAQ Options Market
Contact Information:
- U.S. Transaction Services Market Sales at +1 800 846 0477
What you need to know:
- The NASDAQ Options Market has received approval from the Securities and Exchange Commission (SEC) to reduce the minimum exposure period required for agency limit orders.
- Effective immediately, the exposure time has been reduced from three seconds to one second.
What is changing?
On Monday, February 23, 2009, The NASDAQ Options MarketSM received approval from the Securities and Exchange Commission (SEC) to reduce the minimum exposure period required for agency limit orders from three seconds to one second.
What does this change mean for my firm?
As per Chapter VII, section 12 of The NASDAQ Options Market rules, a customer order must be exposed to the market before a firm can execute against that customer order. The time that a firm must wait before executing against a customer order has been reduced to one second.
When does this change take effect?
The change is effective immediately.
Where can I find more information?
- Refer to the rule filing on the SEC website.
- Refer to The NASDAQ Options Market page on the NASDAQ Trader® website.
- For questions about equity and options trading, contact U.S. Transaction Services Market Sales at +1 800 846 0477.
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