Federal Register #SR-MIAX-2026-12

MIAX Proposes Increases to Non-Transaction Fees for Options Exchange Participants

This notice announces a proposed rule change by Miami International Securities Exchange, LLC (MIAX) to amend its Options Exchange Fee Schedule for non-transaction services. - Government Buyer: - Securities and Exchange Commission (SEC) is the regulatory authority publishing the notice - OEMs and Vendors: - Miami International Securities Exchange, LLC (MIAX) is the only OEM/vendor mentioned - Products/Services Requested: - No physical products or direct service procurements are requested - Fee schedule changes apply to: - Monthly Trading Permit fees for Electronic Exchange Members (EEMs) (increase from $1,500 to $2,000 per permit) - Monthly Trading Permit fees for Market Makers (tiered increases from $9,500 to $29,500 depending on activity) - Network connectivity fees for 1Gb and 10Gb connections to primary/secondary and disaster recovery facilities - Port fees, including: - FIX Ports (order submission) - Full Service MEI Ports (Market Maker quoting) - Limited Service MEI Ports (beyond four free per matching engine) - Purge Ports (quote purge messages) - FXD Ports (real-time trade execution/correction info) - Unique or Notable Requirements: - Fee increases are intended to align MIAX's charges with those of comparable exchanges (e.g., Cboe, NYSE American) - No procurement of goods or services; this is a regulatory fee adjustment for exchange participants - No specific quantities or part numbers are involved - Changes affect both Members and non-Members using MIAX connectivity and port services

Description

The Securities and Exchange Commission (SEC) has published a notice regarding a proposed rule change filed by Miami International Securities Exchange, LLC (MIAX). The proposal seeks to amend the MIAX Options Exchange Fee Schedule by increasing various non-transaction fees, including monthly Trading Permit fees for Electronic Exchange Members and Market Makers, connectivity fees to primary/secondary and disaster recovery facilities, and port fees such as FIX, MEI, Purge, and FXD Ports. These fees have not been updated in several years, and the changes aim to align MIAX's fees with those of comparable exchanges to remain competitive and generate greater revenue. The filing is effective immediately.

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