NYSE Pillar® Options Migration

Integrated Trading Technology

NYSE Pillar is our new integrated trading technology platform that will enable member firms to connect to all NYSE equities and options markets using a standard protocol. NYSE Pillar is designed to improve efficiency and reduce complexity for customers, while enhancing consistency, performance and resiliency.

NYSE Arca Options successfully completed its migration to NYSE Pillar in July 2022. NYSE American Options will migrate to NYSE Pillar starting on October 23, 2023.

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Upon completion of the migration, the NYSE options exchanges will provide the benefits of the NYSE Pillar platform, which offers:

More efficient processing, enhanced determinism and lower latency

Shorter time to market for ongoing enhancements

Simplified, harmonized order types, terminology, and messaging across all of our markets

Latest Updates and Highlights

Trader Updates

9 May 2023	Trader Update: NYSE American Options: Updated Certification Environment Dates and System Specifications for NYSE Pillar Migration
10 February 2023	Updates posted to NYSE Pillar Binary Gateway Specification, NYSE Pillar FIX Gateway Specification, NYSE Pillar Options - OMS FIX Specification, Functional Differences between NYSE Group Options Platforms
30 January 2023	Trader Update: NYSE American Options: Pillar Migration Launch Date - October 23, 2023

NYSE American Options Certification and Migration Details

Key Information

No Adapters will be available to NYSE Pillar from existing UTP gateways
Certification:
- Participants certified for Arca Options Pillar are not required to re-certify for American Options
- All participants are highly encouraged to test new American Options functionality (e.g. pro-rata allocation, CUBE, BOLD, etc.)
- Please contact NYSE Technology Member Services team at [email protected] with any questions pertaining to testing and certification

Migration Timeline:
- Initial Certification testing opens - July 10th
- All functional features available for testing (including CUBE, BOLD) - August 14th
- Production Shadow - September 5th
- Weekend Production Testing:
  - September 16th - end-to-end testing
  - October 7th - end-to-end testing
  - October 21st - final confidence
- Disaster Recovery testing - available the week of Monday, September 25th through Friday, September 29th
- Production Rollout - The 1st symbol tranche will commence on October 23rd followed by additional tranches, as needed. Tranche details and schedule will be published in a trader update

TOP & Client Reports

Trade Ops Portal (TOP)

NYSE Pillar TOP replaces UTP client portals GEMS and CMT. It offers the ability to access all NYSE Pillar exchanges from one single portal and login. In TOP, Participants can carry out a various tasks including: i) View executed trade details; ii) Review inventory of Pillar order entry and Drop Copy sessions; iii) Configure Pre-Trade and Activity-Based Risk Controls; iv) Allocate Open Outcry trades; v) Apply Post Trade clearing changes.

User guides for TOP are available. For Post Trade and Floor related functionality, refer to the NYSE Pillar TOP - Options Post Trade User Guide. For Risk management related functionality, refer to the TOP section of the NYSE Pillar Risk Controls document.

For access to TOP, please submit Authorized Administrators and Options User Request and Authorization forms to [email protected].

Learn more

Legacy UTP client reports will be decommissioned with the migration to NYSE Pillar.

New Pillar options reports will be made available via the NYSE Managed File Transfer (MFT) protocol. Participants wishing to continue to receive reports must establish an MFT account and indicate new report subscriptions by submitting an NYSE Pillar Options MFT Request Form to [email protected]. Additional details on available reports can be found here.