GEMX Tweaks Options Order Names and Rules
Published Date: 8/27/2025
Notice
Summary
Nasdaq GEMX is making some small but important tweaks to its options trading rules to keep things clear and consistent. They’re fixing capitalization in order names and adding the word “paired” to better explain a special type of order. These changes take effect right away and help traders understand the rules better without changing any fees or timing.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Order Names Clarified; 'paired' Added
The exchange changed wording in Options 3, Section 7 to lowercase the terms "Block Order," "Facilitation Order," and "SOM Order" and added the descriptive word "paired" to Facilitation Orders and SOM Orders to show they are two-sided. These edits are described as non-substantive clarifications and take effect immediately; they do not change fees or timing.
Auction and Crossing Orders Rejected During Halts
The exchange amended Options 3, Section 9(a)(2) to state: "During a halt, existing auction orders and auction responses, as well as Crossing Orders, are rejected." The filing says this reflects the GEMX System's current operation and the change is effective immediately; it clarifies treatment of these order types during trading halts but does not alter system behavior or fees.
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