MIAX Trims Old Text from Options Fee Schedule Cleanly
Published Date: 5/21/2025
Notice
Summary
MIAX is cleaning up its fee schedule by removing old text about temporary discounts for subscribers of certain Liquidity Taker Event Reports. This change affects current monthly and annual subscribers and takes effect immediately, with no new fees or costs involved. It’s a simple update to keep things clear and current for everyone using these reports.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
April 2025 Subscribers Got One-Time Discounts
Subscribers that were active as of March 31, 2025 received one-time discounts for April 2025: monthly subscribers received 50% off the April 2025 monthly fee, and 12-month (annual) subscribers received an additional month at the end of their existing 12-month subscription at no additional charge. The Fee Schedule lists fees of $4,000 per month and $24,000 per year for the Simple and Complex Order Reports, $2,000 per month and $12,000 per year for the Resting Simple Order Report, and a $40,000 per year discounted rate for purchasing both the Simple and Complex Reports.
Obsolete Discount Language Removed
MIAX removed old fee-schedule text that described temporary discounts for subscribers to three Liquidity Taker Event Reports. The change is a clarification only, does not introduce any new fees or costs, and was made operative upon filing on May 7, 2025.
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