Confirmed clearing member’s responsibility for electronic orders placed by members and customers; made in conjunction with other new rules on electronic trading access.
Made clearing member participation in business continuity and disaster recovery (BCDR) testing mandatory when required; codified existing Exchange practice.
Must guarantee, assume financial responsibility for orders placed by clearing member.
Also, must perform periodic testing of BCDR plans, may have to participate in testing.
If required, clearing members must fulfill, within timeframe allotted by Exchange, certain testing requirements, related reporting requirements prescribed by Exchange.
The scope and the requirements of testing will be determined by the Exchange in its sole discretion and communicated to clearing members in advance of the test.
Effectiveness
Effective when incorporated into the MIAX Futures rulebook and posted on its website.
Which will be at least 10 business days following the date of submission to the CFTC.
