Section 6.4(d)(iii) of the CAT NMS Plan, which describes the exemption for Options Market Maker quotes, states that “[w]ith respect to the reporting obligations of an Options Market Maker with regard to its quotes in Listed Options, Reportable Events required pursuant to Section 6.3(d)(ii) and (iv) shall be reported to the Central Repository by an Options Exchange in lieu of the reporting of such information by the Options Market Maker.” Section 6.4(d)(iii) also requires that, pursuant to the Compliance Rules of the Options Exchanges, Options Market Makers are required to report to an Options Exchange the time at which a quote in a Listed Option is sent to the Options Exchange (including any applicable quote modifications and/or cancellation time when such modification or cancellation is originated by the Options Market Maker). Such time information shall be reported to the Central Repository by the Options Exchange in lieu of reporting by the Options Market Maker.

The Options Market Maker exemption set forth in Section 6.4(d)(iii) applies to Options Market Maker quotes. Each Options Exchange determines which messages from Options Market Makers are subject to this provision pursuant to its rules. For additional information regarding the messages that each Options Exchange will report to the CAT on behalf of Options Market Makers and applicable protocols, please see: 

. To the extent that the messages an Options Exchange will report on behalf of Options Market Makers include order messages that functions as quotes, the Options Exchange will file a proposed rule change with the SEC to amend its rulebook to define which order messages (as opposed to quote messages) Options Market Makers will not need to separately report to CAT. As noted in the exemption for Options Market Maker quotes, Options Market Makers will be required to report to an Options Exchange the time at which an order that functions as a quote in a Listed Option is sent to the Options Exchange (including any applicable order modifications and/or cancellation time when such modification or cancellation is originated by the Options Market Maker). Such time information shall be reported to the Central Repository by the Options Exchange in lieu of reporting by the Options Market Maker.