MIAX PEARL Updates Rule 531 for Quote Cancellation Tracking
Published Date: 5/1/2026
Notice
Summary
MIAX PEARL is updating a rule about how quickly they track cancelations of resting quotes after trades happen. This change affects traders who use the Exchange’s Purge Liquidity Taker Report and helps keep timing records accurate. The new rule is effective immediately, with no extra costs involved.
Free Policy Watch
New rules are filed every week. Most people never see them.
Pick a topic. PRIA watches every federal rule and tells you when one hits your household.
Pick a topic to get started
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Report window widened to 500 microseconds
If you subscribe to MIAX Pearl's Purge Liquidity Taker Report, the Exchange changed the cutoff for showing when a purge message missed canceling a resting quote from 100 microseconds to 500 microseconds. This change became operative upon filing on April 15, 2026 and affects the historical daily report data you receive (available generally on a T+1 basis).
Optional T+1 report for Market Makers
The Purge Liquidity Taker Report is an optional product available to Exchange Market Makers and provides historical trading and purge timing data for the previous trading day, generally on a T+1 basis. The Report is specific to the subscribing Market Maker and does not include other members' trading data.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Take It Personal
Get Your Personalized Policy View
Take the PRIA Score to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in