Traders Get Rebate Boost for Posting Stock Quotes All Day
Published Date: 1/16/2026
Notice
Summary
MIAX Pearl is rolling out a new Market Quoting Program that rewards traders who add displayed liquidity in stocks priced $1 or more during all trading sessions. This means traders can earn better rebates if they meet certain market quality goals. The change kicks in right away, making it a win-win for active traders and the exchange’s market quality.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
New $0.0026 Per-Share Rebate
If you are an Equity Member of MIAX Pearl, you can earn an enhanced rebate of $0.0026 per share for executions that add displayed liquidity in securities priced at or above $1.00 per share during all trading sessions if, in the relevant month, you achieve a Percent Time at NBBO of at least 50% in at least 750 multi-listed securities.
No Stacking of Certain Additive Rebates
Equity Members who receive the Market Quoting Program enhanced rebate will not be eligible for the NBBO Setter Additive Rebate (listed as $0.00035 per share) or the NBBO First Joiner Additive Rebate (listed as $0.0001 per share); instead, members will receive the higher of the NBBO Setter Plus tiered rebates or the enhanced $0.0026 per-share rebate.
NBBO Time Measured During Regular Session
For the Market Quoting Program, the 'Percent Time at NBBO' metric counts only the percentage of time during the Regular Trading Session when a member has a displayed order at the national best bid or offer; only orders at the NBB or NBO during the Regular Trading Session count toward the 50% requirement.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
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!
2026-16781, Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of a Proposed Rule Change To Amend Sections 303A.00 and 303A.07 of the NYSE Listed Company Manual
The New York Stock Exchange (NYSE) is giving listed companies more time to set up their internal audit teams, which help keep an eye on risks and controls. This change affects all companies listed on the NYSE and aims to make the transition smoother without rushing. No new costs or deadlines are added yet, but companies should prepare for the updated timeline once it’s official.
2026-16784, Self-Regulatory Organizations; The Depository Trust Company; Order Approving Proposed Rule Change To Amend the Redemptions Service Guide and the Operational Arrangements (Necessary for Securities To Become and Remain Eligible for DTC Services)
Previous / Next Documents
Previous: 2026-00796, Agency Information Collection Activities; Submission for OMB Review; Comment Request; Prohibited Transaction Class Exemption for Certain Transactions Between Investment Companies and Employee Benefit Plans (PTE 1977-4)
The Department of Labor is asking for public feedback on a paperwork update about special rules for employee benefit plans buying or selling mutual fund shares when the same advisor manages both. This update focuses on clear fee disclosures and keeping independent watchdogs informed. Comments are open until February 17, 2026, and the changes aim to keep things fair without adding extra costs.
Next: 2026-00798, Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Schedule of Fees and Charges
NYSE Arca is updating its fees for Exchange Traded Products (ETPs) to stay competitive and fair. This change affects companies that list their products on the exchange and takes effect immediately, possibly impacting their annual costs. The goal? Keep NYSE Arca a top choice for ETP listings without breaking the bank.