Big Options Traders Get Monthly 'Pro' Status Checkups
Published Date: 9/30/2026
Notice
Summary
MX2 LLC is rolling out a new monthly check on 'Professional Orders'—those big traders placing over 390 option orders daily for their own accounts. This change helps keep trading fair and transparent by making sure these orders are properly marked. The new rule kicks in right away, affecting traders who meet the professional order criteria, with no extra fees involved.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
High-volume customers reclassified as Professional
If you (a Public Customer) average more than 390 option orders per day during any calendar month, your orders must be represented as Professional orders for the next calendar month. Priority Customer orders get execution priority and are generally not assessed transaction fees; being designated Professional distinguishes you from Priority Customers and is intended to prevent high-volume accounts from receiving those Priority Customer advantages.
Monthly review for Professional orders
The Exchange now requires Members to review Public Customer option activity every month and mark orders as Professional when a customer averaged more than 390 orders per day during any calendar month. That reclassification must be applied five days after the end of the calendar month and will apply for the next calendar month.
No new workflow or burden on Members
The Exchange states that broker-dealers already compute daily averages and perform the work needed to identify Professional activity, so the monthly codification does not change current workflow or impose a new burden on Members. The Exchange represents that this amendment is not a significant departure from current rules and aligns with other exchanges' practices.
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