[ by Howard Haykin ] Nasdaq OMX BX Options, scheduled to launch 6/29/12, pending SEC approval, will offer interfaces currently available on Nasdasq OMX Phlx and The Nasdaq Options Market (NOM). Testing is available daily in the Options Test Facility.  Saturday Production tests will be held Saturday, 6/9 and 6/23.  Firms that would like to test must fill out a BX Options port request form to order test ports.  Firms will need production ports for the Saturday Tests, which can be requested via the BX Options port request form. What Will Change. As announced in OTA #12-31, the new BX Options market will offer an innovative approach through functionality and pricing to attract a rich participant mix.  The new market will launch with a price/time priority execution algorithm. After launch, BX Options will integrate additional functionality such as pro rata allocation with customer priority and directed participation in certain products.  These enhancements will require additional SEC filings and approvals prior to implementation. When it launches on 6/29, BX Options will offer options based on 1-5 underlying securities.  The market will share the common architecture utilized by NOM and PHLX.  Participants on the new BX Options market will be able to leverage their current connectivity to NOM/PHLX and will only need new logically separate BX Options ports.  To order ports, firms need to fill out the BX Options port request form. Market Data Available on BX Options. BX Options will offer BX Top (identical to NOM BONO), BX Depth (identical to NOM ITTO), and BX Glimpse (identical to NOM Glimpse).  Market data specifications can be found on the BX Options specifications page. To become members of BX Options, firms should follow the membership instructions on the BX Options web page.  Membership, application, distribution and trading rights fees will be waived for BX members that only conduct an options business on BX - i.e., no equity trading. For further details, go to:  [Nasdaq Option Trader Alert 12-36, 5/31/12].