Federal Register #SR-SAPPHIRE-2026-37

MIAX Sapphire proposes higher fees and breakup credits for certain non-Penny options transactions

The Securities and Exchange Commission published a notice about a proposed MIAX Sapphire options-exchange fee change. - Government agency: Securities and Exchange Commission (SEC), which published the notice; there is no purchasing agency or procurement. - Named organization: MIAX Sapphire, LLC, the exchange proposing the change. - Proposed changes: Increase per-contract Floor Market Maker fees for Qualified Floor Order (QFO) and Complex Qualified Floor Order (cQFO) transactions in non-Penny classes that trade against other origins, and increase the per-contract Floor Broker Breakup Credit for QFO and cQFO transactions in non-Penny classes. - Products, services, quantities, and part numbers: None; this is a proposed fee-schedule change, not a request to purchase goods or services. - Notable requirement or detail: The notice seeks comments on the proposed exchange fee changes. No fee amounts are specified in the provided summary.

Description

MIAX Sapphire, LLC proposes to amend the MIAX Sapphire Options Exchange Fee Schedule. The changes would increase the per-contract fee assessed to Floor Market Makers for QFO and cQFO transactions in non-Penny classes that trade against other origins. They would also increase the per-contract Floor Broker Breakup Credit for QFO and cQFO transactions in non-Penny classes. The Securities and Exchange Commission published the notice to solicit comments on the proposed rule change.

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