U.S. Options

Effective November 1, 2023, pending filing with the SEC, MIAX Pearl Options will amend the following transaction fees:

1. Addition and modification of alternative thresholds to qualify for MIAX Pearl Options Market Maker Tier 2 rates:
   1. Addition of new alternative threshold for a Market Maker by achieving ‘Above 0.30% in SPY/QQQ/IWM when adding Liquidity’ on MIAX Pearl Options
   2. Modification of an existing alternative cross-asset Pearl Equities volume requirement to include the NBBO Setter Plus Program and elimination of the Add Volume Tiers table on Pearl Equities
      1. Members who achieve Tier 2 on Pearl Equities in both:
         1. ‘NBBO Setter Plus’ Program (replacing Add Volume Tiers table with three methods to achieve NBBO Setter Plus Program Tier 2) and,
         2. Midpoint Peg Orders Adding Liquidity at Midpoint Volume Tiers
   3. Other thresholds to qualify for this tier remain unchanged

Attached is a highlighted summary of the November 2023 fee changes for the MIAX Pearl Options Exchange.

Complete details will be included in the November 2023 MIAX Exchange Group Fee Schedules when posted on the MIAX website at MIAX Pearl Options Fee Schedule.

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

If you need assistance, please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302.