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UPDATE: Post Mortem - Cboe Options Exchange OPRA Trade Reporting Issues

November 04, 2019 15:19:28

Per the Post Mortem update distributed on Friday, November 1, 2019, Cboe has generated a list of trades impacted by each of the three previously defined software defects relating to OPRA printing on Cboe Options Exchange.

The first defect resulted in certain floor trades, including some that were edited post trade, to be reported as REGULAR trades rather than LATE trades to OPRA. This issue was introduced on October 7. The list of trades reported as REGULAR rather than LATE can be found here.

The second defect allowed floor trades that were not reported to the Exchange within 60 seconds of execution, but were reported within 90 seconds to be designated as late. Cboe Rule 6.1 allows for trades reported within 90 seconds to be classified as regular trades. This issue was introduced on October 24. The list of trades reported as LATE rather than REGULAR can be found here.

The third defect allowed for certain post trade edited floor trades to be duplicated on OPRA as a result of the original trade not being correctly reversed. This issue was introduced on October 28. The list of original trades that were not correctly reversed which was also made available on Friday, November 1 can be found here.