MIAX Ditches Port Caps in Fees: Traders Plug In Freely Now
Published Date: 6/6/2025
Notice
Summary
MIAX Emerald is changing its rules to remove the limit on how many special connection ports Market Makers can use to send quotes. Instead of listing this cap in the fee schedule, it’ll be in a separate document on their website, with no change to the fees. This update takes effect right away and helps Market Makers get more flexible access without extra costs.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Market Makers Gain Port Flexibility
If you are a Market Maker, MIAX Emerald removed the sentence in its Fee Schedule that capped additional Limited Service MEI Ports at ten per Matching Engine (for a total of 14). As of the May 23, 2025 filing, the cap will instead be shown in the Exchange's MEI interface specification on its website, and the existing $420 monthly fee for each additional Limited Service MEI Port remains unchanged.
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