Federal Register #SR-MIAX-2026-35

SEC Notice: MIAX Rule Change Delay and Cboe Options Regulatory Fee Amendment

This notice summarizes proposed regulatory changes affecting options exchanges, overseen by the Securities and Exchange Commission (SEC): - Government Buyer - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEMs and Vendors - No Original Equipment Manufacturers (OEMs) or commercial vendors are referenced, as this is a regulatory action, not a procurement. - Products/Services Requested - Delay implementation of a modification to MIAX Exchange Rule 515A (Price Improvement Mechanism and PRIME Solicitation Mechanism) until Q2 2027 - Amendment to Cboe Exchange's Options Regulatory Fee (ORF), increasing the fee from $0.0023 to $0.01248 per contract side for customer options transactions, effective July 1, 2026 - Unique or Notable Requirements - The MIAX rule change delay is intended to provide additional time for technical preparations by the exchange and its members - The Cboe ORF amendment is designed to recover regulatory costs related to supervision and regulation of customer options business - No hardware, software, or part numbers are requested; this is a regulatory notice, not a procurement opportunity

Description

The Securities and Exchange Commission has filed a notice regarding a proposed rule change by the Miami International Securities Exchange, LLC (MIAX). The rule change pertains to delaying the implementation of a modification to Rule 515A related to the MIAX Price Improvement Mechanism (“PRIME”) and PRIME Solicitation Mechanism. The notice indicates that the change has been filed for immediate effectiveness. The delay is to allow the Exchange and its Members additional time to complete necessary technical changes before implementation, now proposed for Q2 of 2027 instead of Q3 of 2026.

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