OPTIONS PRE-TRADE AND POST-TRADE RISK CONTROLS

will serve as a risk control for Market Maker Quotes in the absence of NBBO data, including pre-open. NBBO “too-executable” filter: Inbound outright orders and Market Maker quotes will be rejected in the following circumstances: • Buy orders when the National Best Offer (“NBO”) is $1 or less and the price of the option order (quote) is at ................
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