Federal Register #SR-SAPPHIRE-2026-30

Proposed Rule Change: MIAX Sapphire Options Exchange Fee Schedule Routing Fee Table Amendment

This notice concerns a proposed rule change affecting the MIAX Sapphire Options Exchange Fee Schedule. - Government buyer: - Securities and Exchange Commission (SEC) - MIAX Sapphire, LLC (exchange operator) - OEMs and vendors: - No commercial OEMs or vendors; entities referenced are options exchanges - Key changes to the fee schedule: - Addition of MX2 LLC (MX2) and Investors Exchange LLC (IEX) to the routing fee table - Update of Nasdaq BX Options name to Nasdaq Texas Options - Adjustment of exchange groupings and fee tiers for MIAX Pearl - Removal of MIAX Pearl from one fee tier and addition to another - Notable requirements: - Changes are intended to better reflect routing costs and expand routing options for exchange members - No procurement of products or services; this is a regulatory notice - Other exchanges referenced: - Miami International Securities Exchange, MIAX PEARL, MIAX Emerald, Cboe BZX Options, NYSE American, BOX, Cboe EDGX Options, Nasdaq PHLX, Nasdaq MRX, Nasdaq GEMX, Nasdaq ISE, NOM, MEMX, and others - No product or service line items are included; this is a fee schedule amendment

Description

This notice announces a proposed rule change filed by MIAX Sapphire, LLC with the Securities and Exchange Commission (SEC) to amend the MIAX Sapphire Options Exchange Fee Schedule. The amendment involves updating the routing fee table to include new options trading facilities MX2 LLC and Investors Exchange LLC (IEX), reflecting the name change of Nasdaq BX Options to Nasdaq Texas Options, and adjusting exchange groupings and fees related to MIAX Pearl. The changes aim to better reflect the costs associated with routing orders to other exchanges and to increase routing options for members. The rule change is effective immediately as of August 1, 2026.

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