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Monday, November 4, 2024

Options Technical Update #2024 - 16
Nasdaq ISE Introduces Electronic FLEX Options

Category:

  • Industry Announcement

Markets Impacted:

Contact Information:

Pending SEC approval, ISE will support trading electronic FLEX Options through existing Order Entry Protocols, Trade Drops and Market Data Feeds. Electronic FLEX will be available via FLEX Auction, FLEX Price Improvement Mechanism, and FLEX Solicited Order Mechanism.

FLEX Options are a type of option contract that offers customized terms, including Strike Prices, Expiration Dates and Exercise Styles. They provide flexibility beyond standard option contracts.

Currently, Nasdaq Phlx supports trading FLEX Options on the physical trading floor. ISE will be the first Nasdaq Option venue to support trading FLEX Options electronically.

Technical Specifications and Frequently Asked Questions (FAQ)

The following Specification Documents and an FAQ are now available on Nasdaq Specs Hub. Please review all documents and follow up with Market Operations with any questions.

Testing Dates:

Milestone

Milestone Date

Customer Test Environment Available

Monday, December 16, 2024

Customer UAT 1

Saturday, March 8, 2025

Customer UAT 2

Saturday, March 22, 2025

 

Nasdaq will send out an updated alert announcing an implementation date. Please contact Market Operations with any questions.

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