Notice to Members NTM2017-38

Date: July 10, 2017
Re: Addition of Price Bands
Effective Date: August 28, 2017

OneChicago, LLC (“OneChicago”) is issuing this Notice to Members (“NTM”) 2017-38 to inform market participants that effective Monday, August 28, 2017, Risk Managers will be able to set an Upper and Lower Limit for all orders that enter the marketplace.  This price banding feature will permit Risk Managers to set an Upper and Lower Price Band for all orders sent to the Exchange, and may be set by risk group.  Risk Managers wishing to utilize price banding must manually set the Upper and Lower Price Bands, as they will not be set by default.


The Exchange will utilize its internally-derived reference price to compare order prices against the price bands established by each Risk Manager.  Risk Managers will be able to enter the price bands as a minimum and maximum permissible percentage away from the reference price.  API clients should be aware that a new rejection code has been added to Appendix A.2.  An updated FIX Specification can be found here.


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If you have any questions, please contact OneChicago Operations at (312) 883-4311 or