MIAX Pearl Updates Market Data and Trading Rules
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
MIAX Pearl is updating its equity trading rules to align with the amended CTA/CQ Plan, which governs key market data systems for consolidated trade and quote information. The exchange plans to add new rules that bring in several shared definitions and concepts from that plan. The change mainly affects exchange members, market data users, broker-dealers, and compliance teams that track U.S. equity market structure rules. The practical impact is limited: firms should review the new rule numbering and definitions, but this appears to be a technical alignment rather than a major change to trading obligations.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Adds new MIAX Pearl Rules 2627 and 2628 using definitions and concepts from the amended CTA/CQ Plan
- Reorganizes Rule 2622 so it focuses on the Limit Up-Limit Down mechanism
- Makes related conforming changes across connected exchange rules