MIAX Pearl Adjusts Non-Transaction Fees for Fairness
Published Date: 4/13/2026
Notice
Summary
MIAX Pearl Options Exchange is updating its non-transaction fees to better match what other options exchanges charge. This change affects traders and firms using MIAX Pearl’s platform and takes effect immediately, aiming to keep fees fair and competitive. If you use MIAX Pearl, expect some fee updates soon, but no big surprises on transaction costs.
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EEM Trading Permit Fee Increases
If you are an Electronic Exchange Member (EEM), your monthly Trading Permit fee will rise. For FIX connections the fees change from $250/$350/$450 to $300/$425/$550 for Tiers 1–3, and for MEO connections the fees change from $300/$400/$500 to $375/$500/$625; EEM Clearing Firms go from $250 to $300 per month. These changes are part of MIAX Pearl’s immediate fee update filed March 25, 2026.
Market Maker Trading Permit Hikes
If you are a Market Maker on MIAX Pearl, monthly Trading Permit fees increase. Proposed fees move from $3,000/$5,000/$7,000/$9,000 to $3,500/$5,500/$8,000/$10,000 across the four tiers, and the alternative lower fee for certain tiers is raised (footnote change) from $3,500 to $5,500 for the 3rd and 4th levels. These changes take effect immediately under the March 25, 2026 filing.
Network Connectivity Fee Increases
MIAX Pearl raises connectivity fees for both Members and non-Members. Fees change to $1,500 per 1Gb to the primary/secondary facility (from $1,400), $650 per 1Gb to the disaster recovery facility (from $550), $3,500 per 10Gb to the disaster recovery facility (from $2,750), and $15,000 per 10Gb ULL to the primary/secondary facility (from $13,500). The Exchange filed these immediately effective changes on March 25, 2026.
FIX Port Monthly Fee Increase
FIX Port monthly fees for Members increase. The first FIX Port moves from $275 to $350, ports 2–5 move from $175 to $225 each, and the sixth-plus ports move from $75 to $100 each. These port fee changes are part of the immediate fee updates filed March 25, 2026.
Full Service MEO (Single) Fee Rise
Full Service MEO Port (Single) monthly fees increase from $4,000 to $4,500 per port. Each such port entitles a Member to two ports per matching engine for the single fee. This change is effective immediately under the March 25, 2026 filing.
Full Service MEO (Bulk) Fee Increases
Full Service MEO Port (Bulk) monthly fees increase for Market Makers and EEMs. For Market Makers the tiers change to $5,500/$8,000/$11,000/$13,000 (up from $5,000/$7,500/$10,000/$12,000), and the alternative lower fee for certain tiers increases (the lower fee for 3rd and 4th levels rises from $6,000 to $8,000). EEMs’ Full Service MEO Port (Bulk) increases from $7,500 to $8,000 per month. These changes are immediately effective as filed March 25, 2026.
Limited Service MEO Port Price Changes
Limited Service MEO Port monthly fees rise for ports beyond the first two. The third and fourth ports go from $200 to $225 each, fifth and sixth from $300 to $350 each, and seventh-plus from $400 to $475 each; the first two ports remain $0. These changes were filed March 25, 2026 and are immediately effective.
MEO Purge Port Fee Increase
MEO Purge Port monthly fees increase from $600 to $700 per matching engine. Members may request two MEO Purge Ports per matching engine and will be charged the monthly fee per matching engine. This change is immediately effective per the March 25, 2026 filing.
CTD Port Monthly Fee Increase
CTD (Clearing Trade Drop) Port monthly fees increase from $450 to $575 per port. Each CTD Port provides real-time clearing trade updates and access to all matching engines. This increase is part of the immediate fee changes filed March 25, 2026.
FXD (FIX Drop Copy) Port Fee Rise
FXD (FIX Drop Copy) Port monthly fees increase from $250 to $325 per port. FXD Ports provide copies of real-time trade execution and correction information and provide access to all matching engines. This change is immediately effective under the March 25, 2026 filing.
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