Nasdaq PHLX (PHLX) l Nasdaq

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id="block-survival"> <style> <![CDATA[/* ><![CDATA[/* ><!]]]]><![CDATA[>*/ /*--><!]]>*/ </style> </div> </div> <main class="page__main" role="main"> <div class="modal-overlay"></div> <a id="main-content" tabindex="-1"></a> <div class="page__content"> <div data-drupal-messages-fallback class="hidden"></div> <article class="solutions-detail"><header class="solutions-statement-hero"><div class="solutions-statement-hero__bg solutions-statement-hero__bg--gradient-1-dark" aria-hidden="true"> <picture class="picture"><source media="all and (min-width: 1200px)" type="image/jpeg" data-srcset="/web/20201004182935im_/https://www.nasdaq.com/sites/acquia.prod/files/2019-03/AdobeStock_187021965.jpeg 1x"></source><source media="all and (min-width: 768px)" type="image/jpeg" data-srcset="/web/20201004182935im_/https://www.nasdaq.com/sites/acquia.prod/files/2019-03/AdobeStock_187021965.jpeg 1x"></source><source type="image/jpeg" data-srcset="/web/20201004182935im_/https://www.nasdaq.com/sites/acquia.prod/files/2019-03/AdobeStock_187021965.jpeg 1x"></source><img class="media__image media__element b-lazy b-responsive" data-src="/sites/acquia.prod/files/2019-03/AdobeStock_187021965.jpeg" src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" alt="architecture, geometric shapes" typeof="foaf:Image"/></picture></div> <div class="solutions-statement-hero__grid"> <div class="solutions-statement-hero__content"> <h1 class="solutions-statement-hero__title">Nasdaq PHLX (PHLX)</h1> <p class="solutions-statement-hero__statement"> is a full service options trading platform delivering cutting-edge electronic and floor-based trading.</p> <span class="solutions-statement-hero__cta">explore</span> </div> </div> </header><div class="layout layout--2-col-large"> <div class="layout--main"> <div class="body"> <div class="body__content"> <p>Nasdaq PHLX (PHLX) offers a combination of cutting-edge electronic and floor-based trading delivering a true full service options trading platform. Utilizing a customer priority, pro rata allocation model, PHLX ensures fast and efficient executions for Complex and Simple Orders while operating on our performance-driven INET technology. PHLX follows a classic or traditional pricing model where customers receive marketing fees/rebates and non-customers pay fees.</p> </div> </div> <div class="feature-drawer__container"> <div class="feature-drawer"> <h2 class="feature-drawer__title">PHLX Features</h2> <p class="feature-drawer__description">Utilizing a customer priority, pro rata allocation model, PHLX ensures fast and efficient executions for Complex and Simple Orders while operating on our performance-driven INET technology.</p> <div class="feature-drawer__drawer accordion__drawer"> <div class="feature-drawer__inner accordion__inner"> <span class="feature-drawer__drawer-text"><p><strong>Trading Floor:</strong> Offers high-touch, manual handling of specialty and Complex Orders, strategy trades, and non-electronic trades.</p> <p><strong>Price Improvement on XL (PIXL):</strong> PIXL allows a member to submit a two-sided Initiating Order into a PIXL process soliciting price improvement. PHLX allows all participants to respond to the auction and offers a “No-Worse-Than” price designation.</p> <p><strong>Flexible Routing Strategies:</strong> By utilizing FIND, SRCH (Search) and DNR (Do Not Route), participants can control how their orders are routed.</p> <p><strong>Complex Order System:</strong> Automates the process for handling and executing option orders of up to six legs, or five-legged options and one stock component.</p> <p><strong>Implied Orders:</strong> Enhances PHLX’s Complex Order Book by enabling interaction of multi-legged orders with the regular order book. This functionality tightens spreads on PHLX’s Simple Order Book, resulting in better executions for multi-legged orders and Simple Orders.</p> <p><strong>High-Speed Automated Opening:</strong> Provides access to additional liquidity and superior execution quality by limiting the range of allowable opening prices and allowing layered opening sweeps.</p> <p><strong>Floor Brokers and Specialists:</strong> Are available on PHLX.</p> <p><strong>Order Types:</strong> A full suite of auction and crossing orders are available on PHLX.</p></span> </div> </div> <button class="feature-drawer__toggle accordion__toggle" data-opentext="See Less" data-closetext="See More">See More</button> </div> </div> <div class="feature-drawer__container"> <div class="feature-drawer"> <h2 class="feature-drawer__title">PHLX Complex Orders</h2> <p class="feature-drawer__description">The PHLX Complex Order permits the execution of multi-leg option orders and stock-tied orders. Operating on the high-speed PHLX XL trading platform, the PHLX Complex Order system enhances electronic execution possibilities for Complex Orders, providing spread price protection and the potential for price improvement.</p> <div class="feature-drawer__drawer accordion__drawer"> <div class="feature-drawer__inner accordion__inner"> <span class="feature-drawer__drawer-text"><p><strong>Advantages:</strong></p> <p>- Leg into our Simple Order Book with all components receiving simultaneous, instant execution</p> <p>- Flexible spreads: up to 5 option legs with stock, or 6 option legs</p> <p>- High speed execution</p> <p>- Opportunity for price improvement in the Complex Order Live Auction (COLA)</p> <p>- Do Not Auction (DNA) orders bypass auctions for faster execution against resting Complex Orders or the Simple Order Book</p> <p><strong>Functionality:</strong></p> <p>- Trade multi-leg option spreads or stock tied orders</p> <p>- Complex Auction (COLA) offering opportunity for price improvement prior to execution</p> <p>- Do Not Auction (DNA) will bypass the COLA providing immediate access to Complex Order Book or Simple Order market liquidity</p> <p>- Orders may be entered as market or limit orders in penny increments</p> <p>- Customer and non-market maker broker-dealer orders may be submitted as day, GTC, and IOC Orders</p> <p>- PHLX market makers and non-PHLX market maker orders may be submitted as IOC or day only Orders and will not initiate an auction process</p> <p>- Riskless stock-tied order handling with stock reporting directly to ACT</p> <p>- Real-time order information available via <u><a href="https://web.archive.org/web/20201004182935/http://www.nasdaqtrader.com/Micro.aspx?id=TOPOPlusOrders">TOPO Plus Orders</a></u> data product</p> <p><strong>Stock-Tied Order Submission:</strong></p> <p>In order to submit Complex Orders with a stock component, firms must have proper paperwork and authorization in place:</p> <ul><li>PHLX Member Firms:</li> </ul><p>PHLX member firms should notify Nasdaq Membership of the proper stock clearance for each PHLX house account by filling out the <u><a href="https://web.archive.org/web/20201004182935/http://www.nasdaqtrader.com/content/ProductsServices/TRADING/PHLXComplexOrder%20RequestForm.pdf">PHLX Complex Order with Stock Authorization Form</a></u>.</p> <p>Firms are required to have a <u><a href="https://web.archive.org/web/20201004182935/http://www.finra.org/file/uniform-services-agreement">Uniform Service Bureau/Executing Broker Agreement</a></u> (AGU) with Nasdaq Execution Services (NES) in order to trade Complex Order strategies containing a stock component.</p> <p>- Under this arrangement, NES will report the stock leg of the Complex Order directly in the Over-the-Counter (OTC) Market via ACT. NES will submit two additional no-tape records to ACT for clearance.</p> <ul><li>Non-PHLX or Finra Members:</li> </ul><p>Firms who are not members of FINRA or Nasdaq, with no access to ACT via their clearing broker-dealer, must have their clearing broker <u><a href="https://web.archive.org/web/20201004182935/https://portal.dtcc.com/tbr/tb/html/pages?TAM_OP=login&ERROR_CODE=0x00000000&URL=%2F">submit a QSR via DTCC portal</a></u> with NES.</p> <p>- Under this arrangement, NES will lock firms in for clearance directly with the National Securities Clearing Corporation (NSCC).</p> <p>A valid Market Participant Identifier (MPID) is required to clear the stock leg of a Complex Order. Firms that do not currently have an assigned MPID should submit the <u><a href="https://web.archive.org/web/20201004182935/http://www.nasdaqtrader.com/content/ProductsServices/Trading/MPIDRequestForm.pdf">MPID Request Form</a></u>.</p></span> </div> </div> <button class="feature-drawer__toggle accordion__toggle" data-opentext="See Less" data-closetext="See More">See More</button> </div> </div> <div class="feature-drawer__container"> <div class="feature-drawer"> <h2 class="feature-drawer__title">PHLX Products</h2> <p class="feature-drawer__description">PHLX offers options trading on thousands of underlying equity, ETF, index, and FX products. Our unique market structure and technology fosters deep and liquid markets with competitive prices.</p> <div class="feature-drawer__drawer accordion__drawer"> <div class="feature-drawer__inner accordion__inner"> <span class="feature-drawer__drawer-text"><p>- Equity & ETF Options</p> <p>- Quarterly Options</p> <p>- Weekly Options</p> <p>- FLEX® Options</p> <p>- FX Options</p> <p>- Index Options</p> <p>- Nasdaq-100 Index® Options (NDX and NDXP)</p> <p><a href="https://web.archive.org/web/20201004182935/http://www.nasdaqtrader.com/dynamic/SymDir/phlxoptions.csv">PHLX Listed Options</a></p></span> </div> </div> <button class="feature-drawer__toggle accordion__toggle" data-opentext="See Less" data-closetext="See More">See More</button> </div> </div> <div class="feature-drawer__container"> <div class="feature-drawer"> <h2 class="feature-drawer__title">Risk Management</h2> <p class="feature-drawer__description">Comprehensive risk management features are built into Nasdaq’s trading technology and include the following protections on PHLX.</p> <div class="feature-drawer__drawer accordion__drawer"> <div class="feature-drawer__inner accordion__inner"> <span class="feature-drawer__drawer-text"><p><strong>Complex Strategy Price Protection (SPP):</strong> Prevents certain Complex Order strategies from trading at prices outside of pre-set standard limits.</p> <p><strong>Order Price Protection (OPP):</strong> Checks the limit price of an incoming order against the NBBO and BBO and rejects the order if the limit crosses certain parameters.</p> <p><strong>Acceptable Complex Execution Parameter (ACE):</strong> Defines a price range outside of which a Complex Order will not be allowed to be executed.</p> <p><strong>Acceptable Trade Range:</strong> Protects orders and quotes from executing at levels too far away from an initial quote execution price.</p> <p><strong>Market Access Protection:</strong> Guards against duplicate orders as well as validates orders with cumulative volume checks.</p> <p><strong>Kill Switch:</strong> Provides participants with a GUI that enables them to request quote removals and/or order cancellations.</p> <p><strong>Rapid Fire:</strong> Removes PHLX market maker quotes from the marketplace when certain pre-set percentage or volume thresholds are met.</p> <p><strong>Multi-Trigger Rapid Fire:</strong> Removes Market Maker SQF quotes and OTTO orders in all underlying symbols on the Exchange when a specified number of Rapid Fire events occur over a chosen interval.</p> <p><strong>Anti-Internalization or AIQ:</strong> Prevents PHLX market makers from trading against their own quote and order interest. Resting interest will be cancelled when an incoming quote or order entered on the opposite side of the market from the same market making firm.</p> <p><strong>Cancel on Disconnect (FIX and SQF connections):</strong> A loss of communication will automatically cancel all orders and open quotes on the affected port. Quotes will be cancelled across all client applications that are associated with the same market maker ID and underlying issues.</p></span> </div> </div> <button class="feature-drawer__toggle accordion__toggle" data-opentext="See Less" data-closetext="See More">See More</button> </div> </div> <div class="feature-drawer__container"> <div class="feature-drawer"> <h2 class="feature-drawer__title">Connectivity</h2> <p class="feature-drawer__description">Through our primary data center, firms can access all eleven of Nasdaq's U.S. Markets via Direct Connection or Co-Location. Nasdaq also offers customers the ability to connect to our markets from key financial data centers outside our Carteret facility through our Point of Presence Service.</p> <div class="feature-drawer__drawer accordion__drawer"> <div class="feature-drawer__inner accordion__inner"> <span class="feature-drawer__drawer-text"><p><strong>Trading Protocols:</strong></p> <p><u><a href="/web/20201004182935/https://www.nasdaq.com/docs/Specialized%20Quote%20Interface%20(SQI)%206.5a.pdf">Specialized Quote Interface (SQF):</a></u> Market makers provide liquidity using SQF, which allows market makers to supply up to 200 quotes in one message.</p> <p><u><a href="https://web.archive.org/web/20201004182935/http://www.nasdaqtrader.com/content/phlxxl/FIX_SessionAndApplicationManual.pdf">Financial Information eXchange (FIX):</a></u> A vendor-neutral standard message protocol used for submitting orders to PHLX.</p> <p><u><a href="https://web.archive.org/web/20201004182935/http://www.nasdaqtrader.com/content/technicalsupport/specifications/TradingProducts/Options_CTI.pdf">Clearing Trade Interface (CTI):</a></u> The Options Clearing Trade Interface is a product that disseminates clearing trades, trade corrections, trade cancels and optional administrative messages.</p></span> </div> </div> <button class="feature-drawer__toggle accordion__toggle" data-opentext="See Less" data-closetext="See More">See More</button> </div> </div> <div class="feature-drawer__container"> <div class="feature-drawer"> <h2 class="feature-drawer__title">Market Data</h2> <p class="feature-drawer__description">Gain direct access to the full options data feed suite via multiple exchange venues—based on time, complexity, and uniformity. Through trader sentiment tools and aggregated trading activity indicators, market participants can analyze options trade and volume data, and create and test trading models and strategies.</p> <div class="feature-drawer__drawer accordion__drawer"> <div class="feature-drawer__inner accordion__inner"> <span class="feature-drawer__drawer-text"><p><u><a href="https://web.archive.org/web/20201004182935/http://www.nasdaqtrader.com/Trader.aspx?id=DPSpecs#options_x">Market Data Product & Reports</a></u></p> <p><u><a href="https://web.archive.org/web/20201004182935/http://www.nasdaqtrader.com/Trader.aspx?id=DPPriceListOptions">Price List</a></u></p> <p><u><a href="https://web.archive.org/web/20201004182935/http://www.nasdaqtrader.com/Trader.aspx?id=DPSpecs_USDerivatives">Specifications</a></u></p> <p><u><a href="https://web.archive.org/web/20201004182935/http://www.nasdaqtrader.com/Trader.aspx?id=AgreementsData">Agreements</a></u></p> <p><u><a href="https://web.archive.org/web/20201004182935/http://www.nasdaqtrader.com/Trader.aspx?id=ContactListGeneral">Contact List</a></u></p></span> </div> </div> <button class="feature-drawer__toggle accordion__toggle" data-opentext="See Less" data-closetext="See More">See More</button> </div> </div> <div class="feature-drawer__container"> <div class="feature-drawer"> <h2 class="feature-drawer__title">Regulatory, Fees, and Customer Tools</h2> <p class="feature-drawer__description">Review all pertinent information to properly leverage the exchange. </p> <div class="feature-drawer__drawer accordion__drawer"> <div class="feature-drawer__inner accordion__inner"> <span class="feature-drawer__drawer-text"><p><u><a href="https://web.archive.org/web/20201004182935/http://nasdaqphlx.cchwallstreet.com/">Rule Manual</a></u></p> <p><u><a href="https://web.archive.org/web/20201004182935/http://www.nasdaqtrader.com/Trader.aspx?id=membership">Membership</a></u><a href="https://web.archive.org/web/20201004182935/http://www.nasdaqtrader.com/Trader.aspx?id=membership"><u> Information</u></a></p> <p><u><a href="https://web.archive.org/web/20201004182935/https://www.nasdaqtrader.com/EASP/TraderEASP.aspx?id=OEForm">Obvious Error Form</a></u></p> <p><u><a href="https://web.archive.org/web/20201004182935/https://www.nasdaqtrader.com/EASP/MicroEASP.aspx?id=MEForm">Market Exemption Form</a></u></p> <p><u><a href="https://web.archive.org/web/20201004182935/https://infocenter.inetats.com/home/index.jsp">Options TradeInfo</a></u></p> <p><u><a href="https://web.archive.org/web/20201004182935/https://eippx.nasdaq.com/Public/home.aspx">Nasdaq Billing</a></u></p> <p><u><a href="https://web.archive.org/web/20201004182935/https://nora.nasdaq.com/public/home.aspx?_ga=2.35861344.1393285210.1502115851-1299259754.1501770357">Online Vendor Routing</a></u></p> <p><u><a href="https://web.archive.org/web/20201004182935/https://www.ndaqoptions.com/marketing/login.htm;jsessionid=F4096F6FF0C72E91EFABF304C0858015">NDAQ Options</a></u></p></span> </div> </div> <button class="feature-drawer__toggle accordion__toggle" data-opentext="See Less" data-closetext="See More">See More</button> </div> </div> <div class="feature-drawer__container"> <div class="feature-drawer"> <h2 class="feature-drawer__title">Authorized Give-Up</h2> <p class="feature-drawer__description">Restricting an OCC clearing number and authorized member organization. </p> <div class="feature-drawer__drawer accordion__drawer"> <div class="feature-drawer__inner accordion__inner"> <span class="feature-drawer__drawer-text"><p><strong>Restricting an OCC Clearing Number</strong></p> <p>- PHLX Rule 1037, ISE, GEMX, MRX Rules 707, and NOM and BX Options Rules Chapter VI Section 14 allow Clearing Members to request the Exchange restrict allowable usage of one or more of their OCC clearing numbers.</p> <p>- To request a restriction on an OCC clearing number, a Clearing Member must submit a completed “Clearing Member Restriction Form" to the Exchange’s <u><a href="https://web.archive.org/web/20201004182935/mailto:membership@nasdaq.com">Membership Department</a></u>.</p> <p>- “Clearing Member Restriction Form” requests will be effective and systematically enforced ninety days after being received by the Exchange once the Exchange’s implementation date has occurred.</p> <p>- Note, a clearing arrangement subject to a Letter of Guarantee automatically permits the Give-Up of a Restricted OCC Number by the member organization / Member that is party to the arrangement and no further written authorization is required.</p> <p><strong>Authorized Member Organization / Authorized Member</strong></p> <p>- A PHLX, ISE, GEMX, MRX, NOM, or BX Options member organization / Member desiring to Give-Up a Restricted OCC Number must become an Authorized Member Organization / Authorized Member.</p> <p>- To become an Authorized Member Organization / Authorized Member, the Exchange requires written authorization, in the form of a completed “Clearing Member Restriction Form”, from the Clearing Member permitting the member organization / Member to Give-Up a Clearing Member’s Restricted OCC Number.</p></span> </div> </div> <button class="feature-drawer__toggle accordion__toggle" data-opentext="See Less" data-closetext="See More">See More</button> </div> </div> </div> <aside class="layout--right-rail"><div class="inside-container"> <section class="support-sidebar"><div class="support-login support-sidebar__section"> <div class="support-login__item"> <h3 class="support-login__title">Login to</h3> <a class="arrow-cta" href="https://web.archive.org/web/20201004182935/https://www.nasdaqtrader.com/EASP/TraderEASP.aspx?id=NewsSignup" aria-label="Subscribe to receive Nasdaq Alerts here."> <span class="arrow-cta__text" aria-label="Subscribe to receive Nasdaq Alerts here.">Subscribe to receive Nasdaq Alerts here.</span> <span class="arrow-cta__icon" aria-hidden="true"></span> </a> </div> </div> <div class="support-contact support-sidebar__section support-contact--no-newsletter"> <header class="support-contact__header"><h3 class="support-sidebar__section__title"> Support </h3> <p class="support-sidebar__section__description"> U.S. Options Trader Alerts are time-critical communications designed to inform customers of activities such as market system status, trading halts, regulatory notifications, product updates, pricing changes, and market data news for all Nasdaq exchanges. Subscribe to receive Nasdaq Alerts above. </p> </header><div class="support-contact__content"> <ul class="support-contact__list"><li class="support-contact__list-item"> <h4 class="support-contact__name">U.S. Options</h4> <a href="https://web.archive.org/web/20201004182935/mailto:sales@nasdaq.com" class="support-contact__contact-method support-contact__contact-method--email">sales@nasdaq.com</a> </li> </ul></div> </div> </section></div> </aside></div> <section class="solutions-bundle" data-variation="single"><div class="solutions-bundle__title"> <span class="solutions-bundle__title-wrap"> <h2 class="module-header"> Additional Features </h2> </span> </div> <div class="solutions-bundle__content"> <div class="solutions-bundle__bg solutions-bundle__bg--gradient-1" aria-hidden="true"> <picture class="picture"><source media="all and (min-width: 1200px)" type="image/jpeg" data-srcset="/web/20201004182935im_/https://www.nasdaq.com/sites/acquia.prod/files/styles/1260x354/public/2019-06/LegalTexture-3.jpeg?h=cef0b0f3&itok=fAA4PTv6 1x"></source><source media="all and (min-width: 768px)" type="image/jpeg" data-srcset="/web/20201004182935im_/https://www.nasdaq.com/sites/acquia.prod/files/styles/1468x1008/public/2019-06/LegalTexture-3.jpeg?itok=SaGyRt6j 1x"></source><source type="image/jpeg" data-srcset="/web/20201004182935im_/https://www.nasdaq.com/sites/acquia.prod/files/styles/750x944/public/2019-06/LegalTexture-3.jpeg?itok=LJLgTINO 1x"></source><img class="media__image media__element b-lazy b-responsive" data-src="/sites/acquia.prod/files/styles/750x944/public/2019-06/LegalTexture-3.jpeg?itok=LJLgTINO" src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" alt="rainbow-colored architectural structure" typeof="foaf:Image"/></picture></div> <ul class="solutions-bundle__list"><li class="solutions-bundle__item"> <div class="solutions-bundle__item-text"> <a href="/web/20201004182935/https://www.nasdaq.com/solutions/options/limit-up-limit-down" class="solutions-bundle__item-eyebrow">LULD Reports</a> <a href="/web/20201004182935/https://www.nasdaq.com/solutions/options/limit-up-limit-down" class="solutions-bundle__item-title"> <h3 class="solutions-bundle__item-link">Limit Up-Limit Down (LULD)</h3> <span class="solutions-bundle__item-arrow" aria-hidden="true"></span> </a> <a href="/web/20201004182935/https://www.nasdaq.com/solutions/options/limit-up-limit-down" class="solutions-bundle__item-description">Explore our archive of all LULD reports.</a> </div> </li> </ul></div> </section><section class="resource-center" id="resource-center"><header class="resource-center__header"><h3 class="resource-center__title">Resource Center</h3> </header><div class="resource-center__container"> <div class="resource-center__content"> <nav class="resource-center__nav"><ul class="resource-center__nav__list"><li class="resource-center__nav__list-item"> <button data-tab="Specifications" faqs="" class="resource-center__nav__toggle resource-center__nav__toggle--opacity-level--0 resource-center__nav__toggle--active"> Specifications & FAQs </button> </li> <li class="resource-center__nav__list-item"> <button data-tab="Regulatory" fees="" class="resource-center__nav__toggle resource-center__nav__toggle--opacity-level--1"> Regulatory & Fees </button> </li> <li class="resource-center__nav__list-item"> <button data-tab="Customer" tools="" class="resource-center__nav__toggle resource-center__nav__toggle--opacity-level--2"> Customer Tools </button> </li> <li class="resource-center__nav__list-item"> <button data-tab="Additional" resources="" class="resource-center__nav__toggle resource-center__nav__toggle--opacity-level--3"> Additional Resources </button> </li> </ul></nav><div class="resource-center__content-item resource-center__content-item--active"> <div class="resource-center__whitepapers"> <ul class="resource-center__whitepapers__list"><li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">PHLX Port Request Form</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/03/25/0676-Q19C PHLX Port Request Form.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">PHLX Port Request Form</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">PHLX Opening Process</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/PHLXOpeningProcess.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">PHLX Opening Process</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">PHLX Clearing Overview</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/PHLXComplexOrderClearingFS.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">PHLX Clearing Overview</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Order Risk Management</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/09/11/1907-Q20_Order Risk Management_PHLX_NOM_BX akg.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Order Risk Management</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">PHLX, NOM & BX Market Maker Risk Management</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/09/11/1907-Q20_Market Maker Risk Management_PHLX_NOM_BX.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">PHLX, NOM & BX Market Maker Risk Management</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">PHLX FAQs</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/PHLXFAQs.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">PHLX FAQs</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">PIXL FAQs</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/PIXLfaqs.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">PIXL FAQs</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Clearing Trade Interface (CTI) 1.3</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/Clearing Trade Interface (CTI) v1.3.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Clearing Trade Interface (CTI) 1.3</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Specialized Quote Interface (SQI) 6.5b</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/02/18/Specialized-Quote-Interface-SQI-6.5b.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Specialized Quote Interface (SQI) 6.5b</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Specialized Quote Interface (SQI) 6.4o</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/Specialized Quote Interface (SQI) 6.4o.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Specialized Quote Interface (SQI) 6.4o</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">PHLX Fix INET Specifications</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/PHLX Fix INET Specifications.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">PHLX Fix INET Specifications</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">PHLX FBMS FIX Interface Specifications</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2019/12/02/FBMS-FIX-Direct-Specification V1.1 November 27 2019.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">PHLX FBMS FIX Interface Specifications</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Top of PHLX Options Interface Specifications</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/Top of PHLX Options Interface Specifications.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Top of PHLX Options Interface Specifications</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">PHLX Orders Interface Specifications</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/PHLX Orders Interface Specifications.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">PHLX Orders Interface Specifications</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">SoupBinTCP 4.1</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/SoupBinTCP 4.1.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">SoupBinTCP 4.1</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">SoupBinTCP 4.0</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/SoupBinTCP 4.0.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">SoupBinTCP 4.0</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">SoupBinTCP 3.0</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/SoupBinTCP 3.0.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">SoupBinTCP 3.0</span></a> </div> </li> </ul><button class="resource-center__whitepapers__load-btn"><span class="visually-hidden">Click to </span>See More<span class="visually-hidden"> factsheets and whitepapers</span></button> </div> </div> <div class="resource-center__content-item "> <div class="resource-center__whitepapers"> <ul class="resource-center__whitepapers__list"><li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">PHLX Pricing Schedule</span> <a href="https://web.archive.org/web/20201004182935/http://nasdaqphlx.cchwallstreet.com/NASDAQPHLXTools/PlatformViewer.asp?selectednode=chp_1_1_3_1&manual=/nasdaqomxphlx/phlx/phlx-llcrules/" class="resource-center__whitepapers__cta">View <span class="visually-hidden">PHLX Pricing Schedule</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">PHLX Rule Manual</span> <a href="https://web.archive.org/web/20201004182935/http://nasdaqphlx.cchwallstreet.com/" class="resource-center__whitepapers__cta">View <span class="visually-hidden">PHLX Rule Manual</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">PHLX Membership</span> <a href="https://web.archive.org/web/20201004182935/http://www.nasdaqtrader.com/Trader.aspx?id=membership" class="resource-center__whitepapers__cta">View <span class="visually-hidden">PHLX Membership</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Obvious Error Form</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaqtrader.com/EASP/TraderEASP.aspx?id=OEForm" class="resource-center__whitepapers__cta">View <span class="visually-hidden">Obvious Error Form</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Market Exemption Form</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaqtrader.com/EASP/MicroEASP.aspx?id=MEForm" class="resource-center__whitepapers__cta">View <span class="visually-hidden">Market Exemption Form</span></a> </div> </li> </ul></div> </div> <div class="resource-center__content-item "> <div class="resource-center__whitepapers"> <ul class="resource-center__whitepapers__list"><li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Trade Info for Options</span> <a href="https://web.archive.org/web/20201004182935/https://infocenter.inetats.com/home/index.jsp" class="resource-center__whitepapers__cta">View <span class="visually-hidden">Trade Info for Options</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Nasdaq Billing</span> <a href="https://web.archive.org/web/20201004182935/https://eippx.nasdaq.com/Public/home.aspx" class="resource-center__whitepapers__cta">View <span class="visually-hidden">Nasdaq Billing</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">NDAQ Options</span> <a href="https://web.archive.org/web/20201004182935/https://www.ndaqoptions.com/marketing/login.htm" class="resource-center__whitepapers__cta">View <span class="visually-hidden">NDAQ Options</span></a> </div> </li> </ul></div> </div> <div class="resource-center__content-item "> <div class="resource-center__whitepapers"> <ul class="resource-center__whitepapers__list"><li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">PHLX Floor Participant Manual</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/08/31/Nasdaq-PHLX-Floor-Participant-Manual.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">PHLX Floor Participant Manual</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">PHLX Listed Options</span> <a href="https://web.archive.org/web/20201004182935/http://www.nasdaqtrader.com/dynamic/SymDir/phlxoptions.csv" class="resource-center__whitepapers__cta">View <span class="visually-hidden">PHLX Listed Options</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">PHLX System Settings</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/05/21/PHLX System Settings - 5.21.20.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">PHLX System Settings</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Clearing Member Restrictions Form</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/CLEARING-FIRM-RESTRICTION-FORM_82919_All-Markets_0.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Clearing Member Restrictions Form</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Holiday & Trading Hours</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/08/14/1720-Q20_Holiday & Trading Hours Update_NAM.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Holiday & Trading Hours</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Minimum Quote Size Requirements</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/08/11/Nasdaqminquotesize(1-up).pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Minimum Quote Size Requirements</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Nasdaq List of Closing Transactions</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/10/02/NasdaqListofClosingTransactions_Oct2.xlsx" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Nasdaq List of Closing Transactions</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Nasdaq Report HQ</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/NasdaqReportHQ.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Nasdaq Report HQ</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Penny Program List</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/10/01/PennyProgramOct2020.xlsx" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Penny Program List</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Restricted OCC Members</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/07/15/PHLX-Restricted-OCC-Clearing-Numbers-6.9.20.xlsx" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Restricted OCC Members</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">System Hours</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/04/27/Nasdaq Systems Hours of Operation.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">System Hours</span></a> </div> </li> </ul><button class="resource-center__whitepapers__load-btn"><span class="visually-hidden">Click to </span>See More<span class="visually-hidden"> factsheets and whitepapers</span></button> </div> </div> </div> </div> </section><section class="form contact-form form--white" aria-label="Contact Form" tabindex="0"><div class="contact-form__bg contact-form__bg--gradient-1-dark" aria-hidden="true"> <picture class="picture"><source media="all and (min-width: 1200px)" type="image/jpeg" data-srcset="/web/20201004182935im_/https://www.nasdaq.com/sites/acquia.prod/files/styles/1600x500/public/2019-03/AdobeStock_187021965.jpeg?h=cef0b0f3&itok=OAuR0oG7 1x"></source><source media="all and (min-width: 768px)" type="image/jpeg" data-srcset="/web/20201004182935im_/https://www.nasdaq.com/sites/acquia.prod/files/styles/1200x500/public/2019-03/AdobeStock_187021965.jpeg?h=cef0b0f3&itok=wDa_ReGE 1x"></source><source type="image/jpeg" data-srcset="/web/20201004182935im_/https://www.nasdaq.com/sites/acquia.prod/files/styles/768x500/public/2019-03/AdobeStock_187021965.jpeg?h=cef0b0f3&itok=8zTuwWlD 1x"></source><img class="media__image media__element b-lazy b-responsive" data-src="/sites/acquia.prod/files/styles/1200x500/public/2019-03/AdobeStock_187021965.jpeg?h=cef0b0f3&itok=wDa_ReGE" src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" alt="architecture, geometric shapes" typeof="foaf:Image"/></picture></div> <div class="contact-form__grid"> <header class="contact-form__header"><span class="contact-form__logo"> <img src="/web/20201004182935im_/https://www.nasdaq.com/themes/nsdq/dist/assets/images/logo-white.svg"/></span> <h2 class="contact-form__title">Contact Us</h2> </header><div class="contact-form__form-container" data-form-id="920"> <div class="eloqua-form"> <div><form method="post" name="GTMS1804WebContactUsOptions" action="https://web.archive.org/web/20201004182935/https://s1981692173.t.eloqua.com/e/f2" onsubmit="return handleFormSubmit(this)" id="form920" class="elq-form"><input value="GTMS1804WebContactUsOptions" type="hidden" name="elqFormName"/><input value="1981692173" type="hidden" name="elqSiteId"/><input name="elqCampaignId" type="hidden"/><div id="formElement0" class="sc-view form-design-field sc-static-layout sc-regular-size"><div class="field-wrapper"></div><div class="individual field-wrapper"><div class="_100 field-style"><p class="field-p"><input id="field0" type="hidden" name="hiddenField3" value="920"/></p></div></div></div><div id="formElement1" class="sc-view form-design-field sc-static-layout item-padding sc-regular-size"><div class="field-wrapper"></div><div class="individual field-wrapper"><div class="_100 field-style"><p class="field-p"><label for="field1" class="label-position top ">First Name<span class="required">*</span></label><input id="field1" name="firstName" type="text" value="" class="field-size-top-large"/></p></div></div></div><div id="formElement2" class="sc-view form-design-field sc-static-layout item-padding sc-regular-size"><div class="field-wrapper"></div><div class="individual field-wrapper"><div class="_100 field-style"><p class="field-p"><label for="field2" class="label-position top ">Last Name<span class="required">*</span></label><input id="field2" name="lastName" type="text" value="" class="field-size-top-large"/></p></div></div></div><div id="formElement3" class="sc-view form-design-field sc-static-layout item-padding sc-regular-size"><div class="field-wrapper"></div><div class="individual field-wrapper"><div class="_100 field-style"><p class="field-p"><label for="field3" class="label-position top ">Job Title</label><input id="field3" name="job_title" type="text" value="" class="field-size-top-large"/></p></div></div></div><div id="formElement4" class="sc-view form-design-field sc-static-layout item-padding sc-regular-size"><div class="field-wrapper"></div><div class="individual field-wrapper"><div class="_100 field-style"><p class="field-p"><label for="field4" class="label-position top ">Company<span class="required">*</span></label><input id="field4" name="company" type="text" value="" class="field-size-top-large"/></p></div></div></div><div id="formElement5" class="sc-view form-design-field sc-static-layout item-padding sc-regular-size"><div class="field-wrapper"></div><div class="individual field-wrapper"><div class="_100 field-style"><p class="field-p"><label for="field5" class="label-position top ">Email Address<span class="required">*</span></label><input id="field5" name="emailAddress" type="text" value="" class="field-size-top-large"/></p></div></div></div><div id="formElement6" class="sc-view form-design-field sc-static-layout item-padding sc-regular-size"><div class="field-wrapper"></div><div class="individual field-wrapper"><div class="_100 field-style"><p class="field-p"><label for="field6" class="label-position top ">Business Phone<span class="required">*</span></label><input id="field6" name="busPhone" type="text" value="" class="field-size-top-large"/></p></div></div></div><div id="formElement7" class="sc-view form-design-field sc-static-layout item-padding sc-regular-size"><div class="field-wrapper"></div><div class="individual field-wrapper"><div class="_100 field-style"><p class="field-p"><label for="field7" class="label-position top ">Country<span class="required">*</span></label><select id="field7" name="country" data-value="" class="field-size-top-large"><option value="">Please select…</option><option value="United States">United States</option><option value="Afghanistan">Afghanistan</option><option value="Åland Islands">Åland Islands</option><option value="Albania">Albania</option><option value="Algeria">Algeria</option><option value="American Samoa">American Samoa</option><option value="Andorra">Andorra</option><option value="Angola">Angola</option><option value="Anguilla">Anguilla</option><option value="Antarctica">Antarctica</option><option value="Antigua and Barbuda">Antigua and Barbuda</option><option value="Argentina">Argentina</option><option value="Armenia">Armenia</option><option value="Aruba">Aruba</option><option value="Australia">Australia</option><option value="Austria">Austria</option><option value="Azerbaijan">Azerbaijan</option><option value="Bahamas">Bahamas</option><option value="Bahrain">Bahrain</option><option value="Bangladesh">Bangladesh</option><option value="Barbados">Barbados</option><option value="Belarus">Belarus</option><option value="Belgium">Belgium</option><option value="Belize">Belize</option><option value="Benin">Benin</option><option value="Bermuda">Bermuda</option><option value="Bhutan">Bhutan</option><option value="Bolivia, Plurinational State of">Bolivia, Plurinational State of</option><option value="Bonaire, Sint Eustatius and Saba">Bonaire, Sint Eustatius and Saba</option><option value="Bosnia and Herzegovina">Bosnia and Herzegovina</option><option value="Botswana">Botswana</option><option value="Bouvet Island">Bouvet Island</option><option value="Brazil">Brazil</option><option value="British Indian Ocean Territory">British Indian Ocean Territory</option><option value="Brunei Darussalam">Brunei Darussalam</option><option value="Bulgaria">Bulgaria</option><option value="Burkina Faso">Burkina Faso</option><option value="Burundi">Burundi</option><option value="Cambodia">Cambodia</option><option value="Cameroon">Cameroon</option><option value="Canada">Canada</option><option value="Cape Verde">Cape Verde</option><option value="Cayman Islands">Cayman Islands</option><option value="Central African Republic">Central African Republic</option><option value="Chad">Chad</option><option value="Chile">Chile</option><option value="China">China</option><option value="Christmas Island">Christmas Island</option><option value="Cocos (Keeling) Islands">Cocos (Keeling) Islands</option><option value="Colombia">Colombia</option><option value="Comoros">Comoros</option><option value="Congo">Congo</option><option value="Congo, the Democratic Republic of the">Congo, the Democratic Republic of the</option><option value="Cook Islands">Cook Islands</option><option value="Costa Rica">Costa Rica</option><option value="Côte d'Ivoire">Côte d'Ivoire</option><option value="Croatia">Croatia</option><option value="Cuba">Cuba</option><option value="Curaçao">Curaçao</option><option value="Cyprus">Cyprus</option><option value="Czech Republic">Czech Republic</option><option value="Denmark">Denmark</option><option value="Djibouti">Djibouti</option><option value="Dominica">Dominica</option><option value="Dominican Republic">Dominican Republic</option><option value="Ecuador">Ecuador</option><option value="Egypt">Egypt</option><option value="El Salvador">El Salvador</option><option value="Equatorial Guinea">Equatorial Guinea</option><option value="Eritrea">Eritrea</option><option value="Estonia">Estonia</option><option value="Ethiopia">Ethiopia</option><option value="Falkland Islands (Malvinas)">Falkland Islands (Malvinas)</option><option value="Faroe Islands">Faroe Islands</option><option value="Fiji">Fiji</option><option value="Finland">Finland</option><option value="France">France</option><option value="French Guiana">French Guiana</option><option value="French Polynesia">French Polynesia</option><option value="French Southern Territories">French Southern Territories</option><option value="Gabon">Gabon</option><option value="Gambia">Gambia</option><option value="Georgia">Georgia</option><option value="Germany">Germany</option><option value="Ghana">Ghana</option><option value="Gibraltar">Gibraltar</option><option value="Greece">Greece</option><option value="Greenland">Greenland</option><option value="Grenada">Grenada</option><option value="Guadeloupe">Guadeloupe</option><option value="Guam">Guam</option><option value="Guatemala">Guatemala</option><option value="Guernsey">Guernsey</option><option value="Guinea">Guinea</option><option value="Guinea-Bissau">Guinea-Bissau</option><option value="Guyana">Guyana</option><option value="Haiti">Haiti</option><option value="Heard Island and McDonald Islands">Heard Island and McDonald Islands</option><option value="Holy See (Vatican City State)">Holy See (Vatican City State)</option><option value="Honduras">Honduras</option><option value="Hong Kong">Hong Kong</option><option value="Hungary">Hungary</option><option value="Iceland">Iceland</option><option value="India">India</option><option value="Indonesia">Indonesia</option><option value="Iran, Islamic Republic of">Iran, Islamic Republic of</option><option value="Iraq">Iraq</option><option value="Ireland">Ireland</option><option value="Isle of Man">Isle of Man</option><option value="Israel">Israel</option><option value="Italy">Italy</option><option value="Jamaica">Jamaica</option><option value="Japan">Japan</option><option value="Jersey">Jersey</option><option value="Jordan">Jordan</option><option value="Kazakhstan">Kazakhstan</option><option value="Kenya">Kenya</option><option value="Kiribati">Kiribati</option><option value="Korea, Democratic People's Republic of">Korea, Democratic People's Republic of</option><option value="Korea, Republic of">Korea, Republic of</option><option value="Kuwait">Kuwait</option><option value="Kyrgyzstan">Kyrgyzstan</option><option value="Lao People's Democratic Republic">Lao People's Democratic Republic</option><option value="Latvia">Latvia</option><option value="Lebanon">Lebanon</option><option value="Lesotho">Lesotho</option><option value="Liberia">Liberia</option><option value="Libyan Arab Jamahiriya">Libyan Arab Jamahiriya</option><option value="Liechtenstein">Liechtenstein</option><option value="Lithuania">Lithuania</option><option value="Luxembourg">Luxembourg</option><option value="Macao">Macao</option><option value="Macedonia, the former Yugoslav Republic of">Macedonia, the former Yugoslav Republic of</option><option value="Madagascar">Madagascar</option><option value="Malawi">Malawi</option><option value="Malaysia">Malaysia</option><option value="Maldives">Maldives</option><option value="Mali">Mali</option><option value="Malta">Malta</option><option value="Marshall Islands">Marshall Islands</option><option value="Martinique">Martinique</option><option value="Mauritania">Mauritania</option><option value="Mauritius">Mauritius</option><option value="Mayotte">Mayotte</option><option value="Mexico">Mexico</option><option value="Micronesia, Federated States of">Micronesia, Federated States of</option><option value="Moldova, Republic of">Moldova, Republic of</option><option value="Monaco">Monaco</option><option value="Mongolia">Mongolia</option><option value="Montenegro">Montenegro</option><option value="Montserrat">Montserrat</option><option value="Morocco">Morocco</option><option value="Mozambique">Mozambique</option><option value="Myanmar">Myanmar</option><option value="Namibia">Namibia</option><option value="Nauru">Nauru</option><option value="Nepal">Nepal</option><option value="Netherlands">Netherlands</option><option value="New Caledonia">New Caledonia</option><option value="New Zealand">New Zealand</option><option value="Nicaragua">Nicaragua</option><option value="Niger">Niger</option><option value="Nigeria">Nigeria</option><option value="Niue">Niue</option><option value="Norfolk Island">Norfolk Island</option><option value="Northern Mariana Islands">Northern Mariana Islands</option><option value="Norway">Norway</option><option value="Oman">Oman</option><option value="Pakistan">Pakistan</option><option value="Palau">Palau</option><option value="Palestinian Territory, Occupied">Palestinian Territory, Occupied</option><option value="Panama">Panama</option><option value="Papua New Guinea">Papua New Guinea</option><option value="Paraguay">Paraguay</option><option value="Peru">Peru</option><option value="Philippines">Philippines</option><option value="Pitcairn">Pitcairn</option><option value="Poland">Poland</option><option value="Portugal">Portugal</option><option value="Puerto Rico">Puerto Rico</option><option value="Qatar">Qatar</option><option value="Reunion">Reunion</option><option value="Romania">Romania</option><option value="Russian Federation">Russian Federation</option><option value="Rwanda">Rwanda</option><option value="Saint Barthélemy">Saint Barthélemy</option><option value="Saint Helena, Ascension and Tristan da Cunha">Saint Helena, Ascension and Tristan da Cunha</option><option value="Saint Kitts and Nevis">Saint Kitts and Nevis</option><option value="Saint Lucia">Saint Lucia</option><option value="Saint Martin (French part)">Saint Martin (French part)</option><option value="Saint Pierre and Miquelon">Saint Pierre and Miquelon</option><option value="Saint Vincent and the Grenadines">Saint Vincent and the Grenadines</option><option value="Samoa">Samoa</option><option value="San Marino">San Marino</option><option value="Sao Tome and Principe">Sao Tome and Principe</option><option value="Saudi Arabia">Saudi Arabia</option><option value="Senegal">Senegal</option><option value="Serbia">Serbia</option><option value="Seychelles">Seychelles</option><option value="Sierra Leone">Sierra Leone</option><option value="Singapore">Singapore</option><option value="Sint Maarten (Dutch part)">Sint Maarten (Dutch part)</option><option value="Slovakia">Slovakia</option><option value="Slovenia">Slovenia</option><option value="Solomon Islands">Solomon Islands</option><option value="Somalia">Somalia</option><option value="South Africa">South Africa</option><option value="South Georgia and the South Sandwich Islands">South Georgia and the South Sandwich Islands</option><option value="South Sudan">South Sudan</option><option value="Spain">Spain</option><option value="Sri Lanka">Sri Lanka</option><option value="Sudan">Sudan</option><option value="Suriname">Suriname</option><option value="Svalbard and Jan Mayen">Svalbard and Jan Mayen</option><option value="Swaziland">Swaziland</option><option value="Sweden">Sweden</option><option value="Switzerland">Switzerland</option><option value="Syrian Arab Republic">Syrian Arab Republic</option><option value="Taiwan">Taiwan</option><option value="Tajikistan">Tajikistan</option><option value="Tanzania, United Republic of">Tanzania, United Republic of</option><option value="Thailand">Thailand</option><option value="Timor-Leste">Timor-Leste</option><option value="Togo">Togo</option><option value="Tokelau">Tokelau</option><option value="Tonga">Tonga</option><option value="Trinidad and Tobago">Trinidad and Tobago</option><option value="Tunisia">Tunisia</option><option value="Turkey">Turkey</option><option value="Turkmenistan">Turkmenistan</option><option value="Turks and Caicos Islands">Turks and Caicos Islands</option><option value="Tuvalu">Tuvalu</option><option value="Uganda">Uganda</option><option value="Ukraine">Ukraine</option><option value="United Arab Emirates">United Arab Emirates</option><option value="United Kingdom">United Kingdom</option><option value="United States Minor Outlying Islands">United States Minor Outlying Islands</option><option value="Uruguay">Uruguay</option><option value="Uzbekistan">Uzbekistan</option><option value="Vanuatu">Vanuatu</option><option value="Venezuela, Bolivarian Republic of">Venezuela, Bolivarian Republic of</option><option value="Viet Nam">Viet Nam</option><option value="Virgin Islands (British)">Virgin Islands (British)</option><option value="Virgin Islands, U.S.">Virgin Islands, U.S.</option><option value="Wallis and Futuna">Wallis and Futuna</option><option value="Western Sahara">Western Sahara</option><option value="Yemen">Yemen</option><option value="Zambia">Zambia</option><option value="Zimbabwe">Zimbabwe</option><option value="--------------"></option></select></p></div></div></div><div id="formElement8" class="sc-view form-design-field sc-static-layout item-padding sc-regular-size"><div class="field-wrapper"></div><div class="individual field-wrapper"><div class="_100 field-style"><p class="field-p"><label for="field8" class="label-position top ">I want to learn more about</label><select id="field8" name="multipleSelectMenu" multiple="multiple" class="field-size-top-large"><option value="Please select">PLEASE SELECT</option><option value="MASDAQ-100 INDEX OPTIONS (NDX/NQX">MASDAQ-100 INDEX OPTIONS (NDX/NQX)</option><option value="NASDAQ PRECISE">NASDAQ PRECISE</option><option value="FX OPTIONS">FX OPTIONS</option><option value="RISK MANAGEMENT">RISK MANAGEMENT</option><option value="CONNECTIVITY">CONNECTIVITY</option><option value="MARKET DATA">MARKET DATA</option><option value="OTHER">OTHER</option></select></p></div></div></div><div id="formElement9" class="sc-view form-design-field 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class="resource-center__header"><h3 class="resource-center__title">PHLX Floor Memos 2017-2020</h3> </header><div class="resource-center__container"> <div class="resource-center__content"> <nav class="resource-center__nav"><ul class="resource-center__nav__list"><li class="resource-center__nav__list-item"> <button data-tab="2020" class="resource-center__nav__toggle resource-center__nav__toggle--opacity-level--0 resource-center__nav__toggle--active"> 2020 </button> </li> <li class="resource-center__nav__list-item"> <button data-tab="2019" class="resource-center__nav__toggle resource-center__nav__toggle--opacity-level--1"> 2019 </button> </li> <li class="resource-center__nav__list-item"> <button data-tab="2018" class="resource-center__nav__toggle resource-center__nav__toggle--opacity-level--2"> 2018 </button> </li> <li class="resource-center__nav__list-item"> <button data-tab="2017" class="resource-center__nav__toggle resource-center__nav__toggle--opacity-level--3"> 2017 </button> </li> </ul></nav><div class="resource-center__content-item resource-center__content-item--active"> <div class="resource-center__whitepapers"> <ul class="resource-center__whitepapers__list"><li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Floor Memo - AAPL and TSLA FLEX Options Non-tradable (August 25, 2020)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/08/25/Floor-Memo-AAPL-and-TSLA-non-tradeable.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Floor Memo - AAPL and TSLA FLEX Options Non-tradable (August 25, 2020)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Floor Memo - Membership Fees (June 25, 2020)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/06/26/Floor Memo- July 2020 Pricing Change.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Floor Memo - Membership Fees (June 25, 2020)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Floor Memo - Open Line of Communication (May 29, 2020)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/06/01/Floor-Memo-Open-Line-of-Communication.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Floor Memo - Open Line of Communication (May 29, 2020)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Floor Memo - Membership Fees (May 29, 2020)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/05/29/Floor-Memo-Membership-Fees.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Floor Memo - Membership Fees (May 29, 2020)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Floor Memo - Strategy Cap (April 1, 2020)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/04/14/Floor-Memo-4-1-2020_Strategy-Cap.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Floor Memo - Strategy Cap (April 1, 2020)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Floor Memo - Remote FBMS access (March 27, 2020)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/03/27/Floor-Memo-Remote-FBMS-access-3-27-20.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Floor Memo - Remote FBMS access (March 27, 2020)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Floor Memo - Navy Yard visitation (March 7, 2020)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/03/10/Floor-Memo-Navy-Yard-visitation-3.7.20.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Floor Memo - Navy Yard visitation (March 7, 2020)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Floor Memo - Floor Broker Meeting (March 5, 2020)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/03/10/Floor-Memo-Floor-Broker-Meeting-3.5.20.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Floor Memo - Floor Broker Meeting (March 5, 2020)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Floor Memo - Floor Broker Meeting (March 4, 2020)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/03/10/Floor-Memo-Floor-Broker-Meeting-3.4.20.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Floor Memo - Floor Broker Meeting (March 4, 2020)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Floor Memo - Communication Devices (January 24, 2020)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/02/28/Floor-Memo-Communication-Devices-1.24.20.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Floor Memo - Communication Devices (January 24, 2020)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item resource-center__whitepapers__list-item--hidden"> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">New FLEX Add Clearing Electronic Form Process (January 13, 2020)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/01/16/Floor-Memo-New-FLEX-Add-Clearing-Electronic-Form-Process.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">New FLEX Add Clearing Electronic Form Process (January 13, 2020)</span></a> </div> </li> </ul><button class="resource-center__whitepapers__load-btn"><span class="visually-hidden">Click to </span>See More<span class="visually-hidden"> factsheets and whitepapers</span></button> </div> </div> <div class="resource-center__content-item "> <div class="resource-center__whitepapers"> <ul class="resource-center__whitepapers__list"><li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Floor Memo - Strategy Trade Changes (December 31, 2019)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/01/10/Floor Memo - Strategy Trade Changes.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Floor Memo - Strategy Trade Changes (December 31, 2019)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Floor Memo - Floor Broker Off Site Discussion (July 22, 2019)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/01/07/Floor_Memo-Floor_Broker_off_site_discussion.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Floor Memo - Floor Broker Off Site Discussion (July 22, 2019)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Floor Memo: FLEX Strategy Cap trades (July 11, 2019)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/01/07/Floor-Memo-FLEX-Strategy-Cap-trades.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Floor Memo: FLEX Strategy Cap trades (July 11, 2019)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">New Electronic Change Sheet Submission Process (January 19, 2019)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/01/07/Floor-Memo-New-Electronic-Change-Sheet-Process-Memo.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">New Electronic Change Sheet Submission Process (January 19, 2019)</span></a> </div> </li> </ul></div> </div> <div class="resource-center__content-item "> <div class="resource-center__whitepapers"> <ul 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Meeting (October 24, 2018)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Pending rule filing mandating FBMS for ROTs and Specialists (June 1, 2018)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/01/07/Floor-Memo-FBMS-use-for-ROTs-and-Specialist.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Pending rule filing mandating FBMS for ROTs and Specialists (June 1, 2018)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Nasdaq PHLX Rule 9216(c) Regulation 4 - Order (July 9, 2018)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/01/07/Nasdaq PHLX Rule 9216(c) Regulation 4 - Order.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Nasdaq PHLX Rule 9216(c) Regulation 4 - Order (July 9, 2018)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Enhancements to FBMS (April 16, 2018)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/01/07/EnhancementstoFBMS.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Enhancements to FBMS (April 16, 2018)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Firm Participation Guarantees (June 29, 2018)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/01/07/FirmParticipationGuarantees.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Firm Participation Guarantees (June 29, 2018)</span></a> </div> </li> </ul></div> </div> <div class="resource-center__content-item "> <div class="resource-center__whitepapers"> <ul class="resource-center__whitepapers__list"><li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Obligations of PHLX Market Makers (March 20, 2017)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/01/07/ROTs-Responsibility -Make-Markts-Memo_AD_MB-16Mar2017.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Obligations of PHLX Market Makers (March 20, 2017)</span></a> </div> </li> <li class="resource-center__whitepapers__list-item "> <div class="resource-center__whitepapers__content"> <span class="resource-center__whitepapers__paper-title">Introducing the “CoLo & Connectivity Console” and Updated Customer Data Center (CDC) Fees (March 10, 2017)</span> <a href="https://web.archive.org/web/20201004182935/https://www.nasdaq.com/docs/2020/01/07/CDCMemoUpdatedConsoleFeesAnnocMar2017.pdf" class="resource-center__whitepapers__cta" download="">Download <span class="visually-hidden">Introducing the “CoLo & Connectivity Console” and Updated Customer Data Center (CDC) Fees (March 10, 2017)</span></a> </div> </li> </ul></div> </div> </div> </div> </section><section class="solutions-graphic"><div class="solutions-graphic__container"> <div class="solutions-graphic__header"> <span>Envision a Future – Fueled by Innovation, Technology and Expertise.</span> </div> <div class="solutions-graphic__subheader">Now, let’s get there. 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