MIAX Pearl tweaks fees for top market data tools
Published Date: 3/19/2025
Notice
Summary
MIAX PEARL is updating its fee schedule to add new pricing categories for its special market data feeds called Top of Market and Liquidity Feed. This change affects traders and firms who use these data services and takes effect immediately, possibly changing how much they pay. The SEC is open to comments but the new fees are already in action as of March 13, 2025.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
New Market Data Fee Categories
MIAX Pearl adopted new fee categories for its proprietary market data feeds, the Top of Market (ToM) feed and the Liquidity Feed (PLF). If you or your firm subscribe to these data services, the change took effect immediately on March 13, 2025 and may change how much you pay for those feeds.
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