MIAX Pearl Options Exchange Fee Schedule Changes
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
MIAX Pearl Options Exchange has updated its fee schedule, increasing fees for Liquidity Taker Event Reports and introducing new fees for a Purge Report. The changes include discounts for multiple annual subscriptions and phase out monthly subscriptions by the end of 2026. These updates affect exchange members who subscribe to these data reports.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Increase in annual fees for Liquidity Taker Event Reports
- Introduction of monthly and annual fees for Purge Report
- Discontinuation of monthly subscriptions by end of 2026
Obligations
What this law requires
Market participants must transition from monthly subscriptions to annual subscriptions for the Simple Order Report, Resting Simple Order Report, and Purge Report by December 31, 2026, as monthly subscriptions will no longer be offered after this date.
Exchange members must subscribe to the Liquidity Taker Event Reports at the new annual fee of $30,000 for the Simple Order Report and $15,000 for the Resting Simple Order Report, effective April 1, 2026.
Exchange members must pay a fee of $4,000 per month or $30,000 per year for the new Purge Report subscription, effective April 1, 2026.
Market participants wishing to subscribe to multiple annual reports must comply with the new fee structure, which offers discounts based on the number and type of reports subscribed to starting April 1, 2026.
Existing monthly subscribers to the Liquidity Taker Event Reports must transition to annual subscriptions by December 31, 2026, as monthly subscriptions will no longer be available after this date.