Stock Exchange Invents New Ways to Charge for Data
Published Date: 1/10/2025
Notice
Summary
MIAX Pearl Options is updating its fee schedule to add new pricing categories for its special market data feeds called Top of Market and Liquidity Feed. This change affects traders and firms who use these data services and takes effect immediately, potentially changing how much they pay. The SEC is open to comments but hasn’t stopped the update, so watch for any future changes.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
New Fees for MIAX Data Feeds
MIAX Pearl Options adopted new pricing categories for its proprietary Top of Market (ToM) feed and Liquidity Feed (PLF). The change was filed on December 20, 2024 and was designated effective immediately, so traders and firms that use these feeds may see their market-data fees change right away. The SEC is accepting comments through January 31, 2025 and may suspend the change within 60 days of the filing.
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Previous / Next Documents
Previous: 2025-00298 — Self-Regulatory Organizations; Long-Term Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Fee Schedule To Adopt Certain Market Data Fees
The Long-Term Stock Exchange is updating its fee schedule to add new market data fees starting November 1, 2024. This change affects traders and firms using LTSE’s data, who will see new costs for accessing market info. The update is already in effect, so everyone should get ready to adjust their budgets and plans.
Next: 2025-00300 — Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fee Schedule To Adopt New Fee Categories for the Exchange's Proprietary Market Data Feeds
Miami International Securities Exchange is updating its fee schedule to add new pricing categories for its special market data feeds like Top of Market and Complex Top of Market. This change affects anyone who uses these data feeds and takes effect immediately, meaning some users might see new fees right away. The SEC is open to comments but the new fees are already in play!