NYSE Pillar Options Migration

NYSE Pillar®

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 and NYSE American Options are the next NYSE markets to migrate to NYSE Pillar, with NYSE Arca Options planned for November 2021 and NYSE American Options to follow in 2022.

Arca Options is migrating to Pillar on November 1, 2021.

Are you ready?

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

Migration Timeline

October 2020 ✓	NYSE Options Virtual Forum Launch NYSE Pillar options migration website
November 2020 ✓	Initial specifications for outright order entry, MM quoting and proprietary market data
January 2021 ✓	Certification environment open for session requests and connectivity provisioning on January 25, 2021
February 2021 ✓	Certification opens for electronic Outright functional testing on February 8, 2021
March 2021 ✓	NYSE Pillar Functional Differences document published Updated Specs including Complex Order Book and Risk Controls
May 2021 ✓	Certification available for Risk Controls Certification available for Trading Floor OMS Gateway and Trade Processing
June 2021	Certification available for Complex Order Book
July - October 2021	Production order entry/quoting and market data retransmission session provisioning - Certification required (July) 7 Weekend production tests: July 24, Aug. 7, Aug. 28, Sept. 11, Sept. 18 - mandatory, Oct. 16 – mandatory, Oct. 30 – final confidence test Weekend testing will include full T+1 outputs and CAT submissions (Sept. – Oct.) NYSE Pillar will be available for weekday production trading in test symbols following the first weekend customer test Support Floor Trading testing & Certification
November 1, 2021	3 week symbol migration to finish before Thanksgiving

Pillar Certification

Now Available for Testing

Outright order processing functionality (except for QCC and Cabinet), Activity-Based Risk Controls, API Risk Controls, Market Maker Quoting (including Bulk Quotes on Binary), Ranking and Priority, Entitlements, Bulk Cancel, Trading Floor OMS Gateway and Trade Processing.

The remaining Cert functionality and timeline includes:

End of June 2021	Market Data Complex Market Data Feed Complex Features All order types except for Complex QCC and Complex Only Risk Controls Kill Switch Global risk Controls Floor OMS Allocation Processing (Gateway APIs)
End of July 2021	Complex Features Single-Leg and Complex QCC Complex Only orders Floor Clear-the-Book orders
End of August 2021	Complex Features Auctions, Complex Order Auctions and Complex Risk Controls Floor Complex, Flex using Trade Ops Portal (TOP) TOP Allocation Handling Cabinet Orders

End of June 2021

Market Data