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NYSE Pillar® Options Migration

Integrated Trading Technology

NYSE Pillar is our new integrated trading technology platform that will enable member firms to connect to all NYSE equities and options markets using a standard protocol. NYSE Pillar is designed to improve efficiency and reduce complexity for customers, while enhancing consistency, performance and resiliency.

NYSE Arca Options successfully completed its migration to NYSE Pillar in July 2022. NYSE American Options will migrate to NYSE Pillar in 2023.

Upon completion of the migration, the NYSE options exchanges will provide the benefits of the NYSE Pillar platform, which offers:

More efficient processing, enhanced determinism and lower latency

Shorter time to market for ongoing enhancements

Simplified, harmonized order types, terminology, and messaging across all of our markets

Latest Updates and Highlights


25 August 2022

19 August 2022

Trader Update: NYSE Arca Options: Changes to Opening MMQ Timers

28 July 2022

Trader Update: NYSE Arca Options: Price Reasonability Checks No Longer Available After 4:00PM

Migration Details


Key Information

  • No Adapters will be available to NYSE Pillar from existing UTP gateways.
  • Migration Schedule - The symbol plan migration plan can be found here.
  • GTC Orders - Members are encouraged to cancel their GTC orders prior to their corresponding symbol migration. All remaining GTCs will be cancelled ahead of each migration tranche prior to Done-For-Day messaging.
    • Participants will receive UROUTs with text "Canceled - symbol migration".
  • System Settings and Defaults - Details on system settings can be found here.
    • Activity-Based Risk Controls and Timers must be set for Market Maler Orders and Quotes the morning of each migration tranche
    • Risk Settings applied to “all symbols” in TOP will override settings set on previous days.
  • Pricing Details - A summary of pricing changes related to the migration can be found here.
  • Order Modifier Deferral - All-Or-None (“AON”), Fill-or-Kill (“FOK”), Minimum Trade Size (“MTS”) and Minimum Fill order modifiers have been deferred from the initial migration.
NYSE Arca Options’ migration to NYSE Pillar timeline can be found here.

TOP & Client Reports


Trade Ops Portal (TOP)

NYSE Pillar TOP replaces UTP client portals GEMS and CMT. It offers the ability to access all NYSE Pillar exchanges from one single portal and login. In TOP, Participants can carry out a various tasks including: i) View executed trade details; ii) Review inventory of Pillar order entry and Drop Copy sessions; iii) Configure Pre-Trade and Activity-Based Risk Controls; iv) Allocate Open Outcry trades; v) Apply Post Trade clearing changes.

User guides for TOP are available. For Post Trade and Floor related functionality, refer to the NYSE Pillar TOP - Options Post Trade User Guide. For Risk management related functionality, refer to the TOP section of the NYSE Pillar Risk Controls document.

For access to TOP, please submit Authorized Administrators and Options User Request and Authorization forms to [email protected].

Client Reports

Legacy UTP client reports will be decommissioned with the migration to NYSE Pillar.

New NYSE Arca Options Pillar reports will be made available via the NYSE Managed File Transfer (MFT) protocol. Participants wishing to continue to receive reports must establish an MFT account and indicate new report subscriptions by submitting an NYSE Pillar Options MFT Request Form to [email protected].

View Additional details for available client reports.

Documents


Contact and Support


NYSE Trading Operations

[email protected]

+1 212 896 2830, Options, 1, 2

Technology Member Services

[email protected]

+1 212 896 2830, Options, 2, 2

Relationship Management

[email protected]
+1 855 898 9012