Miami Exchange Extends Timestamp Loophole to Avoid Costly Overhauls
Published Date: 6/27/2025
Notice
Summary
Miami International Securities Exchange is updating a rule to extend a special exemption on how they track trade times from April 8, 2025, to April 8, 2030. This change affects traders and firms using the Exchange by giving them more time before stricter timestamp rules kick in. No extra costs are expected, just a smoother ride for compliance over the next five years.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
CAT Timestamp Exemption Extended to 2030
If your firm is an Industry Member trading on MIAX or its affiliates (MIAX Pearl, MIAX Emerald, MIAX Sapphire), the Exchange is extending an exemption that lets firms truncate timestamps at the nanosecond level instead of rounding until April 8, 2030. The change replaces the prior expiration date of April 8, 2025 and became operative upon filing on June 17, 2025.
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