BOX Options Introduces Auction-Only Designation


Things are happening at the Boston Options Exchange (BOX).

Beginning April 30, BOX will introduce an Auction Only designation for Directed Orders.

The exchange said that a Directed Order with an Auction Only designation will be executed entirely via the Price Improvement Period (“PIP”). If it is not entered into the PIP by the market maker, the order will be cancelled.

The Auction Only designation is an optional designation that the submitting OFP may decide to utilize.

This affects SAIL and FIX services.

Relatedly, effective April 2, BOX amended Section II.D of its Fee Schedule (Strategy QOO Order Fee Cap). The manual transaction fees are now be capped at $1,000 each day for all reversal, conversion, jelly roll, and box spread strategies executed on the same trading day, regardless of option class. Furthermore, BOX is removing the monthly fee cap of $25,000 for QOO Order fees in these combined Strategies.

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