July 08, 2019 16:32:19
Post Mortem: Cboe BZX Options Exchange Systems Issue
SCI System(s) Affected: Matching Engine, OPRA and Proprietary Feed Quoting
Incident Description: Systems Compliance
Due to a software error related to implementation of new price sliding logic introduced within the BOE quoting interface today, symbols that are only allowed to be quoted in nickel increments were in some cases allowed to be quoted in penny increments via the quoting interface.
Members Affected: BZX Options Members utilizing the quoting interface that selected to use new price sliding functionality.
Corrective Action: At 9:59:47 AM ET, the new price sliding functionality was disabled for the remainder of the day to ensure new quotes would no longer be displayed in penny increments for securities that are to be displayed in nickel increments. A software patch will be deployed for tomorrow (7/9/19) to correct the software defect that resulted in this behavior and the new price sliding logic will be re-enabled.