Federal Register #SR-PEARL-2026-34

Regulatory Amendments to Options Exchange Fees and Security Futures Margin Requirements

This notice details proposed rule changes affecting options and futures trading fee structures: - Government Buyer: - U.S. Securities and Exchange Commission (SEC), Division of Trading and Markets - OEMs and Vendors: - MIAX PEARL, LLC - Chicago Mercantile Exchange Inc. (CME) - Products/Services Requested: - Amendment to MIAX PEARL Options Exchange Fee Schedule - Increase maker rebates and taker fees for non-Penny Classes - Applies to Priority Customer, Market Maker, and Professional origins - Amendment to CME Rule 930 on Performance Bond Requirements - Revises customer margin requirements for security futures - Aligns performance bond rates with SEC and CFTC regulations - Unique or Notable Requirements: - No physical products or purchase quantities specified - Focus is on regulatory and fee schedule amendments to attract trading volume and ensure compliance - MIAX PEARL changes effective July 1, 2026; CME rule change approved July 13, 2026 - Intended to increase liquidity and trading opportunities in non-Penny Classes - CME rule change ensures margin requirements are consistent with federal regulations - No procurement of goods or services; this is a regulatory notice impacting trading fees and requirements.

Description

MIAX PEARL, LLC filed a proposed rule change with the Securities and Exchange Commission to amend the MIAX Pearl Options Exchange Fee Schedule. The amendments involve increasing maker rebates and taker fees applicable to transactions in non-Penny classes for all origins. The changes aim to attract additional non-Penny Class volume and increase liquidity on the Exchange, benefiting market participants by providing more trading opportunities and tighter spreads. The proposal includes adjustments to the Priority Customer and Market Maker origin tables, modifying rebates and fees across all tiers for non-Penny Classes.

View original listing