CHX Needs to Claim Self Help; Another Market Center’s Problems Compromising Their Own Published Market Data

Situation

Impacts

Response

Either Market Center is:

1)      Marking their quotes as “manual”,

2)      Cannot mark their quotes as “manual”,

3)      Or cannot update existing quotes.

 

During Trading Hours:

 

Unless CHX excludes affected Market Center’s quotes from BBO calculations (implementing Self Help Procedures), CHX may not be adequately validating against locked markets, trade-throughs, or suspending trading.  And may be trading against stale BBO information.

 

1)      Notify management.

2)      Consider implementing Self Help Procedures.

-          Confirm Market Center Issues

-          Use NTM Control Utilities MDP CQS/UQDF Control CQS Markets commands.

-          Send Self Help Email Notices

 

Scope of Impact Response Considerations:

1)      Any problems or their resolution are not in CHX’s control.  Respond appropriately to whichever market center is having issues.