MIAX Sapphire Adds API Access to Speed Up Trading
Published Date: 9/25/2025
Notice
Summary
MIAX Sapphire is making it easier for its members to fix trade details and manage risk by adding API access to their Member Firm Portal. This means members can now connect their systems directly to the portal for faster, smoother updates. The change took effect right away on September 15, 2025, with no extra costs announced.
Analyzed Economic Effects
4 provisions identified: 4 benefits, 0 costs, 0 mixed.
Members Get API Access to MFP
If you are a MIAX Sapphire member firm, you can now access the Member Firm Portal (MFP) via an Application Programming Interface (API) as an alternative to the existing web portal. The MFP API lets your systems automate actions currently done in the web UI, including correcting trade information submitted to the Options Clearing Corporation (OCC), adjusting risk settings, requesting options class assignments, and managing symbol assignments.
API May Reduce Operational Risk
The Exchange states the MFP API can facilitate more efficient processing and potentially reduce operational risk caused by human error by allowing software-to-software interactions instead of manual web‑portal entries.
No Immediate API Fees Announced
The Exchange did not announce any fees for use of the MFP API in this filing. If the Exchange later decides to propose fees for API access, it will submit a separate filing with the SEC proposing those fees.
Change Effective Immediately
The SEC waived the normal 30‑day delay and the proposed rule change became operative upon filing on September 15, 2025, so Members may begin using the new API access immediately. The Commission retained the right to summarily suspend the change within 60 days of filing.
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