# 2025-04323: Miami Traders Fork Over for Premium Test Connections

2025-04323, Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule To Adopt Fees for Dedicated Cross Connection Access to the Testing Systems Environment, is a Federal Register notice from Securities and Exchange Commission published 2025-03-18, effective 2025-03-05 (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-04323
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-04323
- Title: Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule To Adopt Fees for Dedicated Cross Connection Access to the Testing Systems Environment
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 12576
- Published: 2025-03-18
- Effective: 2025-03-05
- Comments close: not stated
- Significant: no
- Touches household money: no
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

Miami Traders Fork Over for Premium Test Connections

## Summary

Miami International Securities Exchange is adding a new fee for traders who want a special, dedicated connection to their testing system. This change affects market participants using this service and takes effect immediately, meaning users should expect to pay for this access starting now. The goal is to cover costs and keep the testing environment running smoothly.

## Effects PRIA read

- Fee for Dedicated Test System Connection: cost, low. Market participants who choose a dedicated cross connection to MIAX's testing systems will be charged a new fee. The Exchange filed the fee change on March 5, 2025 and designated it effective immediately, so users should expect to pay for this access starting now. The Exchange says the fee is inten…

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## Sources
- [2025-04323 on federalregister.gov](https://www.federalregister.gov/documents/2025/03/18/2025-04323/self-regulatory-organizations-miami-international-securities-exchange-llc-notice-of-filing-and)
- [2025-04323 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-03-18/pdf/2025-04323.pdf)

## Related
- [Previous: 2025-04322, Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of Filing and Immediat…](https://policyrisk.com/federal-register/2025-04322)
- [Next: 2025-04324, Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2025-04324)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-04323 (as of 2026-06-08).