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Cboe Options and EDGX Options to introduce enhancements to Product Solicitation and Allocation process

Maria Nikolova

Firms that are DPMs on C1 and Market-Makers on EDGX will be able to respond to new product solicitations and re-allocations from one location.

Cboe Options (C1) and EDGX Options (EDGX) Exchanges are set to introduce enhancements to the Product Solicitation and Allocation process, effective May 1, 2020.

These enhancements will enable Designated Primary Market-Makers (DPMs) to utilize the Customer Web Portal to make selections for new product solicitations and current product re-allocations for each exchange. Firms that are DPMs on C1 and Market-Makers on EDGX will be able to respond to new product solicitations and re-allocations from one location.

For all product solicitations after May 1, 2020, DPM firms on C1 and Market-Makers on EDGX will use the Customer Web Portal to make their product selections and rankings for new products and re-allocations.

The Customer Web Portal enhancements will include:

  • Automated emails that notify a C1 DPM and EDGX Market-Maker that a product allocation has been initiated and the firm should log into the Customer Web Portal to participate.
  • The ability for C1 DPMs and EDGX Market-Makers to have a single location on the Customer Web Portal to make all new allocation selections and rankings.
  • The ability for C1 DPMs and EDGX Market-Makers to have a single location on the Customer Web Portal to request products being re-allocated.
  • The ability to identify the MMID and associated EFID each selected product is assigned.
  • Automated emails/notices indicating what products each C1 DPM and EDGX Market-Maker were allocated during a newly listed product(s) or a re-allocated product session. These emails/notices will be delivered to individuals/contacts identified by the firm.
  • C1 emails/notices will include the floor Post and Station locations where each newly listed product will trade in open outcry.

Firms are advised to contact Market Services to designate contact information for receiving automated emails. DPMs on C1 and Market-Makers on EDGX can contact Market Services for additional information about the changes being implemented.

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