MIAX Sapphire Extends 20% Discount on Open-Close Reports
Published Date: 7/22/2025
Notice
Summary
MIAX Sapphire is keeping the good vibes going by extending a 20% discount on their Open-Close Report fees until the end of 2025. This means traders and firms using this data get to save money for a few more months. The discount was supposed to end mid-year but now sticks around through December 31, 2025, making it easier and cheaper to access important trading info.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
20% Discount Extended to Dec 31, 2025
If you or your firm buy historical Open-Close Report data from MIAX Sapphire, a temporary 20% discount on ad-hoc historical Open-Close Report purchases has been extended through December 31, 2025. The discount was originally set to expire June 30, 2025 and the Exchange filed the change on July 9, 2025.
Open-Close Report Price Levels
MIAX Sapphire charges $600 per month for an End-of-Day subscription and $2,000 per month for an Intra-Day subscription to the Open-Close Report. For ad-hoc historical requests, the Exchange charges $500 per request per month for End-of-Day data and $1,000 per request per month for Intra-Day data.
Discount Limited to Existing Subscribers
The 20% temporary discount for ad-hoc historical Open-Close Report purchases applies only to existing subscribers who purchase the same category of historical data as their monthly Intra-Day or End-of-Day subscription. The discount cannot be combined with other Exchange discounts, including the academic discount for Qualifying Academic Purchasers.
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Key Dates
Department and Agencies
Related Federal Register Documents
2026-17183, Regulation Crypto Assets
The Securities and Exchange Commission ("Commission") is proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets. The proposed offering regime is intended to facilitate capital formation and accommodate innovation within the crypto asset markets while, at the same time, ensuring that investors are adequately protected and provided with the information they need to make informed investment decisions. The proposed rules would be set forth in a new regulation titled "Regulation Crypto Assets" and would include two exemptions from the registration requirements of section 5 of the Securities Act of 1933. The first exemption would permit offerings of up to $5 million during a four-year period. The second exemption would permit offerings of up to $75 million during each 12-month period. Under both exemptions, issuers would be required to make certain principles-based narrative disclosures available to their investors. In addition, issuers under the second exemption would be required to provide financial statements and would be subject to ongoing reporting requirements. Issuers that rely on these exemptions would remain subject to the antifraud and antimanipulation provisions of the Federal securities laws. The proposed rules also would include a conditional safe harbor from the term "investment contract" in the definitions of "security" in the Securities Act of 1933 and the Securities Exchange Act of 1934. If the conditions of that proposed safe harbor are satisfied, then a crypto asset would be deemed not to be subject to an investment contract for purposes of those definitions of "security."
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373, Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222, Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651, Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-05635, Application of the Federal Securities Laws to Certain Types of Crypto Assets and Certain Transactions Involving Crypto Assets
Starting March 23, 2026, the SEC and CFTC are making it clear that some crypto assets and transactions must follow federal securities laws. This means crypto companies and investors need to play by new rules to keep things fair and safe. Expect more transparency and possible costs for compliance as the government steps up oversight in the crypto world.
Previous / Next Documents
Previous: 2025-13723, Joint Industry Plan; Notice of Filing and Immediate Effectiveness of Amendment to the Plan Establishing Procedures Under Rule 605 of Regulation NMS To Add 24X National Exchange LLC as a Participant
The new 24X National Exchange LLC just joined the team of market centers sharing monthly trading data under Rule 605. This means 24X will now report its trading stats like speed and price quality, helping investors see how well it performs. The change took effect right away on July 8, 2025, with no extra costs for traders but more transparency for everyone.
Next: 2025-13725, Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the MIAX Pearl Options Exchange Fee Schedule To Extend the Temporary Discount Program for the Open-Close Report
MIAX Pearl is extending a 20% discount on fees for buying big bundles of Open-Close Report data until the end of 2025. This helps traders and firms save money when they purchase $20,000 or more in historical data in one go. The discount was supposed to end mid-2025 but now sticks around through December 31, 2025.