Federal Register #SR-PEARL-2026-16

SEC Notice: MIAX PEARL Options Exchange Fee Schedule Amendments

This notice details proposed amendments to the MIAX PEARL Options Exchange Fee Schedule, as filed with the Securities and Exchange Commission (SEC): - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEMs and Vendors: - MIAX PEARL, LLC (primary and only OEM/vendor for these market data reports) - Products/Services Requested: - Simple Order Report Annual Subscription - $30,000 per year, effective April 1, 2026 - Resting Simple Order Report Annual Subscription - $15,000 per year, effective April 1, 2026 - Purge Liquidity Taker Report Subscription - $30,000 annually or $4,000 monthly, effective April 1, 2026 - Monthly subscriptions for all reports available until December 31, 2026 - Simple Order Report: $4,000/month - Resting Simple Order Report: $2,000/month - Purge Report: $4,000/month - Unique or Notable Requirements: - Discount program for multiple annual subscriptions - Sunset of monthly subscriptions after December 31, 2026; only annual subscriptions available thereafter - Semi-annual renewal dates for annual subscriptions (January 1 and July 1) - No procurement of goods or services; this is a regulatory fee schedule change - Place of Performance/Delivery: - Securities and Exchange Commission Headquarters, 100 F Street NE, Washington, DC

Description

The Securities and Exchange Commission announced a proposed rule change filed by MIAX PEARL, LLC to amend its Options Exchange Fee Schedule. The amendments include increasing annual fees for all Liquidity Taker Event Reports, establishing fees for a new Purge Liquidity Taker Report, introducing a discount program for multiple annual subscriptions, and setting a sunset period for monthly subscriptions. These changes aim to streamline fee structures, improve billing efficiency, and enhance market data transparency for investors and market participants.

View original listing