Scheduled - Notice Date: July 28, 2020
To: Small Exchange Participants
Notice Number: REG-2020-116
Subject: SMFE 2020-012 - Amendments to Settlement Procedure

Effective August 11, 2020, and pending all relevant CFTC regulatory review periods, Small Exchange, Inc. will adopt amendments to the Small Exchange Rulebook Chapters 1, 30, 31, and 32, as well as amendments to Rules 502 and 904.

Go here to view the full Rule filing: https://prismic-io.s3.amazonaws.com/smallexchangecom/3d85624a-0f13-45f3-bea8-d4926c70f7a6_SMFE+2020-012+- +Amendments+to+Settlement+Procedure.pdf
Jul 28, 16:09 CDT

Scheduled - Notice Date: June 30, 2020

To: Small Exchange Participants

Notice Number: REG-2020-113

Subject: SMFE 2020-010 - Amendment to Small Exchange's Definition of "Board"

Effective July 20, 2020, and pending all relevant CFTC regulatory review periods, the Small Exchange, Inc. will adopt amendments to the definitions in Chapter 1 of its Rulebook. The Rule change will update the definition of the term “Board.”

Go here to view the full Rule change: https://prismic-io.s3.amazonaws.com/smallexchange-com/5363b911-9e95-4a54-9390-d32528e8b8d1_SMFE+2020-010+-+Amendment+to+Small+Exchange%27s+Definition+of+%22Board%22.pdf
Jun 30, 15:07 CDT

Scheduled - Notice Date: June 30, 2020

To: Small Exchange Participants

Notice Number: REG-2020-114

Subject: SMFE 2020-011 - Amendment to Small Exchange Rule 524 - CTI Codes

Effective July 20, 2020, and pending all relevant CFTC regulatory review periods, the Small Exchange, Inc. will adopt amendments to Rule 524. The Rule change will update the Exchange’s Customer Type Indicator (CTI) Codes so they are consistent with the descriptions provided by the National Futures Association.

Go here to view the full Rule change: https://prismic-io.s3.amazonaws.com/smallexchange-com/bcd331d3-54b9-4a53-87e1-36a2783fe511_SMFE+2020-011+-+Amendment+to+Small+Exchange+Rule+524+-+CTI+Codes.pdf
Jun 30, 15:08 CDT

Scheduled - Notice Date: July 23, 2020
To: Small Exchange Participants
Notice Number: REG-2020-115
Subject: Self-Match Prevention Functionality

Small Exchange, Inc. (the “Exchange”) is reminding participants that the Exchange offers self-match prevention as a risk control. This functionality is intended to prevent the matching of orders with common ownership.

Participants choosing to utilize self-match prevention will send their Exchange-generated self-match identifier (also known as a “token”) with all their orders using FIX tag 2362. Two (2) orders on opposite sides of the market having that same token are prevented from matching by canceling one (1) or both of the orders. The participant has the option to cancel the aggressor order (i.e., last order received by the Matching Engine), the resting order, or both. This option is chosen by the participant in FIX tag 8000. The Exchange’s self-match prevention functionality also prevents self-matches of implied trades.

Irrespective of whether a participant uses the Exchange’s self-match prevention or implements its own functionality to limit instances of unintentional self-matches, the Exchange reminds participants that they must, pursuant to Exchange Rule 503, establish, maintain and administer reasonable supervisory procedures to ensure that the firm and its employees comply with all Exchange Rules, including Exchange Rule 605 (“Non-Competitive or Fictitious Transactions Prohibited”).

For more information
Small Exchange Regulatory Department
regulation@thesmallexchange.com
312-858-7242
Jul 24, 14:16 CDT