MIAX Pearl Updates Fees to Meet New Regs
Published Date: 2/12/2026
Notice
Summary
MIAX Pearl is updating its fee schedule to follow new rules that start on February 2, 2026. This change affects traders using MIAX Pearl Equities by adjusting transaction fees and rebates to meet the latest regulations. The update takes effect immediately, so everyone should be ready for the new costs and benefits right away!
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Tiered Fees Use Prior-Month Volumes
If you are an Equity Member trading on MIAX Pearl Equities, fees and rebates that depend on volume tiers will be calculated using quoting or trading activity from the prior month starting February 2, 2026. The Exchange says all other fee and rebate amounts remain unchanged, but the tier qualification basis moves to prior-month volumes so the fee applicable to a trade can be known at execution.
New Members Get Base Rates First Month
If you are a new Equity Member on MIAX Pearl, you will receive the Exchange's base fee and rebate rates in your first month of trading under the rule that takes effect February 2, 2026. This ensures new members are not retroactively re-rated based on current-month volume during their initial month.
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Key Dates
Department and Agencies
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