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Monday, April 21, 2025

Options Technical Update #2025 - 2
Update: Nasdaq ISE Introduces Electronic FLEX Options on Tuesday April 22nd, 2025

Category:

  • Industry Announcement

Markets Impacted:

Contact Information:

As previously announced in OTU 2024-16 and OTU 2025-1,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.

Update: The go live date for electronic FLEX Options will be Tuesday, April 22nd, 2025.

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 and Implementation 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
Production Go Live   Tuesday, April 22, 2025

 

Please contact Market Operations with any questions.

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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.

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