RSS Feeds
Product LoginWednesday, October 18, 2017
Options Regulatory Alert #2017 - 53
PHLX, NOM, BX, ISE, GEMX and MRX Changes to Obvious and Catastrophic Error Theoretical Price Determinations
Category:
Markets Impacted:Contact Information:
Resources: |
The manner in which Theoretical Price will be determined has been modified pursuant to NASDAQ Phlx LLC Rule 1092(b)(2)(C), The NASDAQ Options Market LLC Rule at Chapter V, Section 6(b)(2)(C), NASDAQ BX, Inc. Rule at Chapter V, Section 6(b)(2)(C), Nasdaq ISE, LLC Rule 720(b)(2)(C), Nasdaq GEMX, LLC Rule 720(b)(2)(C) and Nasdaq MRX, LLC Rule 720(b)(2)(C). Specifically regarding the “No Valid Quotes” section of these rules, in which the exchange will determine the Theoretical Price if there are no quotes or no valid quotes for comparison purposes, please note quotes that are not valid are: “Quotations published by another options exchange if either party to the transaction in question submitted the quotes in the series representing such options exchange’s best bid or offer, provided that the exchange will consider quotes invalid on the other options exchanges in up to twenty-five (25) total options series that the party identifies to the exchange the quotes which were submitted by such party and published by other options exchanges.” The approved rule changes noted above by each of the six options markets will utilize the Theoretical Price Tool when determining a theoretical price pursuant to their respective harmonized obvious error rules. |
|---|
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.
