MIAX Sapphire Waives Fees for Stock-Option Connections
Published Date: 12/16/2025
Notice
Summary
MIAX Sapphire is updating its fee schedule to offer up to two free 1 gigabit connections for members and non-members who use them only to route the stock part of Stock-Option Orders to other trading centers. This change starts right away and helps traders save on connection costs when handling these special orders. If you trade options or stocks through MIAX Sapphire, this tweak could lower your fees instantly!
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Two Free 1Gb Connections for Stock‑Leg Routing
If you are a Member or non‑Member that routes the stock portion of a Stock‑Option Order to an away Trading Center for execution on behalf of MIAX Sapphire, you may receive up to two 1 gigabit (Gb) connections with no monthly network connectivity charge. This waiver avoids the applicable $1,400 monthly fee per 1 Gb connection and is effective beginning December 1, 2025; 10 Gb and disaster‑recovery connections are not covered by this proposal.
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