MIAX Options Adjusts Fees for Stock-Option Order Connections
Published Date: 12/16/2025
Notice
Summary
MIAX is giving traders a sweet deal by offering up to two free 1 gigabit connections for sending stock parts of Stock-Option Orders to other trading centers. This change helps both members and non-members save on connection fees starting immediately. If you trade options on MIAX, expect lower costs and smoother order routing from now on!
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Two Free 1 Gb Connections for Stock-Option Routing
If you are a MIAX Member or a non‑Member that routes the stock portion of a Stock‑Option Order, MIAX will not charge the monthly network connectivity fee for up to two (2) 1 gigabit (1 Gb) connections so long as those connections are used solely to route the stock portion to an away Trading Center for execution on behalf of the Exchange. The waiver is effective December 1, 2025. The Exchange currently assesses $1,400 per 1 Gb connection, so this change waives that monthly fee for each covered connection.
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Previous: 2025-22865 — Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the MIAX Sapphire Fee Schedule To Modify Certain Connection Fees for Stock-Option Order Functionality
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!
Next: 2025-22867 — Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt a New Selective Liquidity Auto Purge (“SLAP”) Feature
MIAX Sapphire is rolling out a cool new feature called Selective Liquidity Auto Purge (SLAP) that lets traders quickly cancel specific orders instead of all at once. This change helps traders manage their orders smarter and faster using the MIAX Express Order system. The update is already effective as of December 1, 2025, making trading smoother without extra costs.