U.S. Options

As previously announced in the September 30, 2024 Alert, effective January 1, 2025, pending filing with the SEC, the MIAX Options Exchange, MIAX Pearl Options Exchange, and MIAX Emerald Options Exchange will implement the following market data fees:
 

1. MIAX Options Data Feeds
   1. Internal Distributor: No Change
   2. External Distributor: No Change
   3. Non-Display Usage: $1,500/month per data feed (1)
   4. Professional User Fee: $20/User per Exchange
   5. Non-Professional User Fee: $1/User per Exchange
2. MIAX Emerald Options Data Feeds
   1. Internal Distributor: No Change
   2. External Distributor: No Change
   3. Non-Display Usage: $1,500/month per data feed (1)
   4. Professional User Fee: $20/User per Exchange
   5. Non-Professional User Fee: $1/User per Exchange
3. MIAX Pearl Options Data Feeds
   1. Internal Distributor: No Change
   2. External Distributor: No Change
   3. Non-Display Usage: $1,500/month per feed (2)
   4. Professional User Fee: $20/User per Exchange
   5. Non-Professional User Fee: $1/User per Exchange

Effective March 1, 2025, pending filing with the SEC, MIAX Sapphire Options Exchange will implement the following market data fees:

1. MIAX Sapphire Options Data Feeds
   1. Internal Distributor: No Change (post expiration of fee waiver)
   2. External Distributor: No Change (post expiration of fee waiver)
   3. Non-Display Usage: $1,500/month per data feed (1)
   4. Professional User Fee: $20/ User per Exchange
   5. Non-Professional User Fee: $1/ User per Exchange

Notes:
(1) For firms that subscribe to two or more data feeds on MIAX Options Exchange, MIAX Emerald Options Exchange or MIAX Sapphire Options Exchange, the Non-Display fee will be discounted to $3,000 per exchange.
(2) For firms subscribing to both MIAX Pearl Options Exchange data feeds, the Non-Display fee will be discounted to $2,500.
 
Reporting Requirement:
MIAX has previously implemented monthly reporting for market data subscribers and this reporting requirement will continue. The first month’s official reporting (covering usage for January 2025) will be due by February 15, 2025. For more details, please refer to our Market Data Policies.

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.