MIAX Emerald slaps new fees on market data feeds
Published Date: 3/19/2025
Notice
Summary
MIAX Emerald is updating its fee schedule to add new fee categories for its special market data feeds like Top of Market and Complex Top of Market. This change affects anyone using these data feeds and takes effect immediately, meaning some users might see new charges soon. The goal is to keep things clear and fair for all data feed subscribers.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
New fees for four MIAX market feeds
On March 13, 2025 MIAX Emerald adopted new fee categories for its proprietary market data feeds: Top of Market (ToM), Complex Top of Market (cToM), Administrative Information Subscriber (AIS), and MIAX Emerald Order Feed (MOR). The change is immediately effective, so anyone using these data feeds may see new charges soon.
Exchange says fees will be clearer and fairer
The Exchange states the purpose of the change is to keep pricing clear and fair for all data feed subscribers. That means subscribers should see fee categories that are intended to be more transparent after the amendment.
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