15 • % Time at NBBO measurements = 33.33% • Relative Net NBBO corrections = 50% total NBBO weight • Relative NBBO Alone Presence = 50% NBBO weight • TOB size measurements = 33.33% The measurements are detailed in Table 2 – Single Market Maker Measurement. Table 2 – Single Market Maker Measurement Metric MM Measurement Measurement Description Weighting in Contribution Score Spread Goal (“SG”) – 33.33% of total Net SG Corrections • Net SG Corrections = MAX ( 0 , Number of MM SG Corrections - Number of MM SG Violations ) Where: • MM SG Correction = a single event where the current spread is greater than the target spread goal, and the MM enters in an order that results in the spread being equal to or better than the target Spread Goal • MM SG Violation = a single event where the current spread is equal to or better than the target spread goal, but the cancellation of an order by the MM results in the spread then being worse than the target Spread Goal • Resulting Net SG Corrections cannot be less than zero • Relative Net SG Correction % = Net SG Corrections / (MM1 Net SG Corrections + MM2 Net SG Corrections) • Where the combined Net MM SG Corrections is below 10 Net SG Corrections per day average for that month, both MMs are assessed as equal at a 50% contribution in that category 16.67% (50% of SG weighting)
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