MIAX PEARL Adds Fees to Proprietary Market Data Feeds
Published Date: 3/4/2025
Notice
Summary
MIAX PEARL 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, possibly changing how much they pay. The SEC is keeping an eye on it and asking for public feedback within 60 days.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
MIAX Adds Market Data Fee Categories
MIAX PEARL filed on February 14, 2025 to add new pricing categories for its Top of Market (ToM) and Pearl Liquidity Feed (PLF) proprietary market data feeds. The change was designated effective immediately and may change how much traders and firms who use these data services pay; the SEC is soliciting public comments on file number SR-PEARL-2025-06 through March 25, 2025.
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