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Fee Change Alert

MIAX Pearl

February 28, 2022 | 04:32 PM

MIAX Exchange Group - Options Exchanges - March 1, 2022 Fee Changes

The MIAX Options, MIAX Pearl Options and MIAX Emerald Options Fee Schedules will be amended on March 1, 2022, pending filing with the SEC.
 
MIAX Options
Introduction of the Complex Liquidity Taker Report and the rollback of certain non-transaction fee Changes.

  1. The MIAX Options Complex Liquidity Taker Report
    • Monthly and discounted annual subscriptions per respective exchange are available for these reports  
    • Fees for the new report will be filed at $4,000 per month or $24,000 per year (12 month subscription)
    • Subscribers of both the Simple Liquidity Taker Report and the new Complex Liquidity Taker Report will receive both reports at a reduced annual subscription rate of $40,000  
    • Subscribers with an existing 12 month subscription to the Simple Liquidity Taker Report may add a subscription to the Complex Order Report during their current 12 month subscription.  The fee for the additional report will be pro-rated for the remainder of the subscriber’s current 12 month subscription
  2. Reminder, as previously announced in the earlier February 28, 2022 Alert, MIAX Options will rollback certain non-transaction fee Changes
MIAX Pearl Options
Rollback certain non-transaction fee Changes
  1. Reminder, as previously announced in the earlier February 28, 2022 Alert, MIAX Pearl Options will rollback certain non-transaction fee Changes
MIAX Emerald Options
Rate change for Priority Customer Simple Maker rebates, reminder of the threshold change for the Excessive Quoting Fee, introduction of the Complex Liquidity Taker Report and the rollback of certain non-transaction fee Changes.
  1. MIAX Emerald Options will modify the Priority Customer Simple Maker rebates for Members only in Priority Customer Tier 4 when they trade contra to an Affiliated Market Maker
    • For Penny classes, the rebate will change from ($0.49) to ($0.43)
    • For Non-Penny classes, the rebate will change from ($0.95) to ($0.85)
  2. Reminder, as previously announced in the February 24, 2022 Alert, MIAX Emerald Options modified the daily inbound quote threshold for the Excessive Quoting Fee.  The daily inbound quote threshold increased from 2.5 billion quotes to 3.5 billion quotes effective February 24, 2022.
  3. The MIAX Emerald Complex Liquidity Taker Report
    • Monthly and discounted annual subscriptions per respective exchange are available for these reports  
    • Fees for the new report will be filed at $4,000 per month or $24,000 per year (12 month subscription)
    • Subscribers of both the Simple Liquidity Taker Report and the new Complex Liquidity Taker Report will receive both reports at a reduced annual subscription rate of $40,000  
    • Subscribers with an existing 12 month subscription to the Simple Liquidity Taker Report may add a subscription to the Complex Order Report during their current 12 month subscription.  The fee for the additional report will be pro-rated for the remainder of the subscriber’s current 12 month subscription
  4. Reminder, as previously announced in the earlier February 28, 2022 Alert, MIAX Emerald Options will rollback certain non-transaction fee Changes

Summaries of the March 1, 2022 fee changes are attached.  For full details, please review the March 1, 2022 Fee Schedules on the MIAX website at MIAX Options Fee Schedule, MIAX Pearl Options Fee Schedule and MIAX Emerald Options Fee Schedule. 

To request the new reports, please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302.

For additional information, please contact MIAX Sales at Sales@miaxglobal.com or (609) 897-8177.