Federal Register #SR-MIAX-2026-28

SEC Notice: MIAX Proposes Extension of Discount Program for Historical Open-Close Report Data

This opportunity concerns the Securities and Exchange Commission (SEC) notice of a proposed rule change by Miami International Securities Exchange, LLC (MIAX) to extend a temporary discount program for its proprietary Open-Close Report historical data products. - Government Buyer: - Securities and Exchange Commission (SEC) - Division of Trading and Markets - Miami International Securities Exchange (MIAX) - OEMs and Vendors: - Miami International Securities Exchange, LLC (MIAX) (OEM and data provider) - Products/Services Requested: - MIAX Open-Close Report Data (proprietary options trading data) - End-of-Day Open-Close Report (monthly subscription and ad-hoc historical requests) - Monthly subscription: $600 - Ad-hoc historical: $500 per month requested (from June 2021 onward) - 10-Minute Open-Close Report (monthly subscription and ad-hoc historical requests) - Monthly subscription: $3,000 - Ad-hoc historical: $1,000 per month requested (from January 2013 onward) - 1-Minute Open-Close Report (monthly subscription and ad-hoc historical requests) - Monthly subscription: $9,000 - Ad-hoc historical: $4,000 per month requested (from January 2013 onward; free for current 1-Minute Report subscribers) - Unique or Notable Requirements: - 20% discount applies to ad-hoc historical End-of-Day and 10-Minute Open-Close Report data purchases of $20,000 or more in a single order by existing monthly subscribers for the same data category - Discount does not apply to 1-Minute Report ad-hoc requests (these are free for current 1-Minute Report subscribers) - The Open-Close Report summarizes options trading activity by origin, side, volume, and transaction type, and is available in End-of-Day, 10-Minute, and 1-Minute versions - Competing exchanges (e.g., Cboe Exchange, Inc., Cboe C2 Exchange, Inc., Cboe EDGX Exchange, Inc., Cboe BZX Exchange) offer similar data products - The extension aims to attract more subscribers and increase accessibility to MIAX's historical trading data

Description

This notice announces a proposed rule change by Miami International Securities Exchange, LLC to amend its fee schedule. The amendment extends a temporary discount program for historical requests of certain Open-Close Report data until December 31, 2026. The discount program offers a 20% fee reduction for subscribers purchasing $20,000 or more in historical End-of-Day or 10-Minute Report data. The rule change is effective immediately and aims to attract more subscribers and make the data more accessible.

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