Changes to MIAX Options Exchange Fee Schedule
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
The law updates the MIAX Options Exchange fees, increasing annual charges for Liquidity Taker Event Reports and introducing fees for a new Purge Report. It also establishes discounts for multiple subscriptions and phases out monthly subscriptions, aiming to simplify billing and attract more annual subscribers.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Increased annual fees for existing Liquidity Taker Event Reports
- Introduction of new Purge Report with associated fees
- Discounts established for multiple annual subscriptions
Obligations
What this law requires
Market participants currently utilizing monthly subscriptions for the Simple Order Report, Complex Order Report, Resting Simple Order Report, or Purge Report must transition to an annual subscription or terminate their subscriptions before December 31, 2026.
Market participants must transition to annual subscriptions for all Liquidity Taker Event Reports by December 31, 2026, as monthly subscriptions will no longer be offered after this date.
Annual fees for the Simple Order Report and Complex Order Report will increase from $24,000 to $30,000, and the annual fee for the Resting Simple Order Report will increase from $12,000 to $15,000 starting April 1, 2026.
Market participants subscribing to the Purge Report must pay an annual fee of $30,000 or a monthly fee of $4,000 as of April 1, 2026.
Effective April 1, 2026, market participants may purchase an annual subscription to the Purge Report for $30,000 or a monthly subscription for $4,000.