Nasdaq MRX (MRX)

delivers competitive priority customer rebates and a full suite of auction and crossing orders.

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Nasdaq MRX (MRX) offers both a simple customer priority, pro-rata allocation market and a price-time complex market, complete with a full suite of auction and crossing orders. MRX follows a traditional model on the simple order book, while MRX complex will bring the same best in class complex functionality as ISE with an alternative pricing model.

Specifications and Resource Hub
Specifications and Resource Hub
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All the specifications and regulatory resources you need. All in one place.
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Specifications and Resource Hub
All the specifications and regulatory resources you need. All in one place.
Explore
Specifications and Resource Hub
+
All the specifications and regulatory resources you need. All in one place.

Nasdaq MRX (MRX)

MRX Features

  • Full Suite of Auction & Crossing Orders

    MRX offers a price improvement mechanism (PIM), facilitation, solicitation, and Qualified Contingent Cross (QCC) order type.

  • Price Improvement

    Price improvement on MRX can be accomplished through auctions for crossing orders as well as the Complex Auction Order (CAO) and the pre-linkage Flash auction

  • Routing Strategies

    All orders can be marked with the option of Flash and Route, Flash and Do Not Route (DNR), and do not Flash Do Not Route.

  • Complex Order Book

    Innovative technology that enables all market participants to trade smarter by providing efficient and liquid markets for multi-legged strategies (up to 10 legs) including complex, buy-write, and delta neutral orders.

  • Risk Management

    Comprehensive risk management features are built into MRX’s trading technology and include the following protections.

  • Authorized Give-Up

    Restricting an OCC clearing number and authorized member organization.

MRX Complex Order Book
MRX Complex Order Book
+
Trade smarter by providing efficient and liquid markets for multi-legged strategies.
Nodes
MRX Complex Order Book
Innovative technology that enables all market participants to trade smarter by providing efficient and liquid markets for multi-legged strategies (up to 10 legs) including complex, buy-write, and delta neutral orders.
Learn More
MRX Complex Order Book
+
Trade smarter by providing efficient and liquid markets for multi-legged strategies.

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