Stock Exchange Tweaks Data Feed Rules—Zzz, Just Business as Usual
Published Date: 9/12/2025
Notice
Summary
MIAX PEARL is updating its rules to clarify where it gets market data for 24X National Exchange. This change affects traders and firms using MIAX PEARL’s data feeds and takes effect immediately, helping everyone know exactly which data sources power their trades. No new fees are mentioned, so it’s all about clearer, smoother data handling starting now!
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
MIAX Pearl to Use SIP as Sole 24X Data Source
If you trade on or route orders through MIAX Pearl, the Exchange amended Rule 2613 to state that for 24X National Exchange the Exchange will use the Securities Information Processor (SIP) feed as its primary source for order handling, order execution, order routing, and regulatory compliance, and will not have a secondary source for 24X. The rule change was filed on August 29, 2025 and the Commission waived the 30-day delay so it became operative upon filing; 24X announced a first-stage launch date of September 29, 2025.
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