Floor Clearing Edits

Orders executed on the Cboe Options trading floor may be edited after the trade has occurred using the Clearing Editor tool to correct trade entry errors. If a clearing edit is made to either side of a floor trade to adjust non-clearing related trade fields such as Price, Size, Symbol, etc, then this will result in a cancellation of the original trade (UCC message) and new orders/trades being created in the system for both sides of the trade. The new orders will have a system-generated ClOrdID (11) that begins with a tilde (~). The InitialClientOrderId (22020) field will contain the original ClOrdID (11) from the order that was routed to the Exchange and can be used to associate the trade cancel or new trade message with the original order.

Firms can use a FIX DROP port with the Allow Executions and Send Trade Breaks attributes enabled in order to receive a real-time notification when these cancellation and new trade events occur that result from a post trade clearing edit. Cancellation and new trade events resulting from floor clearing edits will not be sent to the originating FIX or BOE port where the order originated and are only available over FIX Drop. Firms are also encouraged to use the Clearing Editor tool to monitor for unmatched trades.