MIAX Sapphire Trims Fees and Adds Report Discounts
Published Date: 3/17/2025
Notice
Summary
MIAX Sapphire is updating its fee schedule by adding a new discount for the Open-Close Report and removing old fee waivers that expired on February 28, 2025. Traders and firms using the exchange will see these changes take effect immediately, so they should check the new fees to stay in the know. This update keeps things fair and clear as the exchange moves forward.
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Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Discount for Open-Close Report
MIAX Sapphire added a new fee discount program for the Open-Close Report. The change was filed on February 28, 2025 and is effective immediately, so traders and firms that buy the Open-Close Report should review the exchange's updated Fee Schedule.
Expiration of Fee Waivers and Connectivity Discounts
The Exchange deleted references to the Initial Waiver Period and removed text about fee waivers and discounts in Sections 5)a)-b) because the waiver/discount period expired or is set to expire on February 28, 2025. Traders and firms that previously benefited from those waivers or discounts should expect the waivers/discounts to end as of February 28, 2025 and should check the updated Fee Schedule.
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