MIAX Sapphire Adds New Fees for Premium Market Data Streams
Published Date: 3/4/2025
Notice
Summary
MIAX Sapphire is updating its fee schedule to add new pricing categories for three special market data feeds: Top of Market, Complex Top of Market, and Liquidity Feed. This change affects traders and firms who use these data services and takes effect immediately, meaning some users might see new fees soon. The Exchange wants to keep things fair and clear while offering fresh data options.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
New Fees for Three Market Data Feeds
On February 20, 2025 MIAX Sapphire filed a rule change that adds new fee categories for three proprietary market data feeds: MIAX Sapphire Top of Market (ToM), Complex Top of Market (cToM), and the MIAX Sapphire Liquidity Feed (SLF). The Exchange designated the change for immediate effectiveness, so traders and firms that use these data services could see new fees charged soon.
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