Federal Register #SR-MIAX-2026-14

MIAX Proposed Fee Changes for Liquidity Taker Event Reports

This opportunity concerns a proposed rule change by Miami International Securities Exchange, LLC (MIAX) to amend its Options Exchange Fee Schedule for Liquidity Taker Event Reports. - Government Buyer: - Securities and Exchange Commission (SEC) - MIAX is the exchange operator submitting the proposal - OEM/Vendor: - Miami International Securities Exchange, LLC (MIAX) - Products/Services Requested: - Subscription-based market data reports for Exchange Members - Simple Order Report (annual fee increased from $24,000 to $30,000) - Complex Order Report (annual fee increased from $24,000 to $30,000) - Resting Simple Order Report (annual fee increased from $12,000 to $15,000) - Purge Liquidity Taker Report (new; $4,000/month or $30,000/year) - Discount program for multiple annual subscriptions (e.g., $50,000 for two reports, $70,000 for three) - Unique/Notable Requirements: - Monthly subscriptions sunset after December 31, 2026; only annual subscriptions available thereafter - Semi-annual renewal dates (January 1 or July 1) - Pro-rated fees for subscriptions starting between renewal dates - Reports provide detailed liquidity response and purge message data - Place of Performance/Delivery: - Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090

Description

This notice announces a proposed rule change by the Miami International Securities Exchange, LLC (MIAX) to amend its Options Exchange Fee Schedule. The amendments include increasing the 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. The changes aim to streamline fee structures and provide more options for market participants subscribing to these reports.

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