MIAX Emerald Options Exchange Fee Schedule Changes
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
MIAX Emerald Options Exchange is adjusting its fee schedule. Key changes include an increase in annual fees for liquidity reports, introduction of new fees for a Purge Report, a new discount program for multiple report subscriptions, and the phasing out of monthly subscriptions by the end of 2026. Market participants using these reports should prepare for higher costs or shift to annual plans.
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Key Changes
- Increase in annual fees for liquidity reports
- Introduction of fees for the new Purge Report
- Sunset of monthly subscriptions by December 2026
Obligations
What this law requires
Market participants must transition from monthly subscriptions to annual subscriptions for the Simple Order Report, Complex Order Report, Resting Simple Order Report, and Purge Report by December 31, 2026.
All market participants must transition their subscription from monthly to annual for the Simple Order Report, Complex Order Report, Resting Simple Order Report, and Purge Report by December 31, 2026, as monthly subscriptions will be phased out.
Market participants subscribing to the Purge Report must pay an annual fee of $30,000 or a monthly fee of $4,000 starting April 1, 2026.
Companies must pay the newly increased annual fees for Liquidity Taker Event Reports starting April 1, 2026, setting the annual fee for the Simple Order Report and Complex Order Report at $30,000, and the Resting Simple Order Report at $15,000.
Market participants may purchase multiple annual subscriptions and will receive a discount based on the number of reports subscribed to, effective from April 1, 2026.