Notice of MIAX Options Exchange Fee Changes
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This notice updates the fee schedule of Miami International Securities Exchange (MIAX), affecting non-transaction fees for electronic members and market makers. To align with market rates, MIAX is increasing trading permit fees, connectivity fees, and various port fees. This affects electronic exchange members and market markers, who will now pay higher monthly fees to conduct trades and maintain connectivity on the platform.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Trading permit fees for electronic exchange members and market makers will increase.
- Connectivity fees for primary/secondary and disaster recovery facilities for members and non-members will rise.
- Port fees for FIX, MEI, Purge, and FXD ports are increased.
Obligations
What this law requires
Electronic Exchange Members (EEMs) must pay increased monthly Trading Permit fee of $2,000 per permit (increased from $1,500), effective as of the implementation date of this rule change.
Market Makers must pay increased monthly Trading Permit fees based on class registration levels: $9,500 (up to 10 classes/20% ADV), $16,000 (up to 40 classes/35% ADV), $23,000 (up to 100 classes/50% ADV), or $29,500 (over 100 classes/over 50% ADV), effective as of the implementation date.
Market Makers meeting volume thresholds (total monthly executed volume less than 0.060% of total monthly executed volume reported by OCC for MIAX-listed option classes) must pay alternative lower Trading Permit fee of $16,000 per month instead of the standard tiered fee.
Members and non-Members must pay increased connectivity fees to primary/secondary facility and disaster recovery facility, as specified in the amended MIAX Options Exchange Fee Schedule.
Users of FIX, MEI, Purge, and FXD ports must pay increased port fees as specified in the amended MIAX Options Exchange Fee Schedule.