C-AIM Response Orders

Response orders to Complex AIM auctions must follow the same guidelines defined for AIM auctions. Responders need to include the Auction ID of the Complex AIM auction on their response for their order to be considered a Response Order. Responses for Complex AIM are capped by the SBBO instead of the NBBO.

At the conclusion of an auction response or exposure period, the Matching Engine will continue processing messages, including auction responses, for up to an additional 100ms (900ms on C1 only) to include auction responses that arrived at the Matching Engine NIC prior to the scheduled auction end time. The Matching Engine will immediately conclude the auction either upon processing all events arriving at the Matching Engine prior to the scheduled auction end time or upon elapse of the additional timer.