CBOE - New Order Origin Code for Joint Back Office Accounts

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The Chicago Board Options Exchange (CBOE) will begin to require a new order origin code, “J,” for any joint back office (JBO) account orders to be cleared in the firm range at the Options Clearing Corporation (OCC). The “J” code will be required starting November 1, at which point appropriate orders should begin to be marked with the new code. Note that orders for JBO accounts that clear into the customer range at the OCC are not required to use the new “J” code. However, use of the “J” code is mandatory for JBO account orders that clear in the firm range at the OCC. Transaction fees for orders with the “J” origin code will be listed separately on the CBOE fee schedule.

Click here for more information on the “J” order code.

 


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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