MIAX Emerald Clocks In: 1-Minute Data Now Costs Extra
Published Date: 2/17/2026
Notice
Summary
MIAX Emerald is updating its fee schedule to start charging for a new 1-Minute Report that shows quick option market data. They’re also giving a special discount to students and researchers buying historical 1-Minute Report data. These changes kicked in right away on January 30, 2026, and will affect anyone using or buying this detailed market info.
Analyzed Economic Effects
7 provisions identified: 5 benefits, 2 costs, 0 mixed.
New $6,000/month 1-Minute Report
MIAX Emerald will charge $6,000 per month for a subscription to its new 1-Minute Interval Intra-Day Open-Close Report (the "1-Minute Report"). This is an optional, proprietary market data subscription offered by the Exchange.
Ad-hoc historical data costs $2,500
MIAX Emerald will charge $2,500 per request per month for ad-hoc historical 1-Minute Report data covering all Exchange-listed securities. Ad-hoc requests can cover any number of months beginning with March 2019 for which data is available.
Academic discount: $4,500 first year
Qualifying academic purchasers may buy historical 1-Minute Report data for $4,500 for the first year; additional months after the first year are $375 per month (prorated). Academic purchasers must meet criteria (accredited institution or faculty/staff, academic use only, no industry-funded research).
1-Minute subscribers get 10-Minute/EOD access
Subscribers who purchase a 1-Minute Interval Intra-Day subscription may request a 10-Minute Interval Intra-Day and/or End-of-Day (EOD) subscription for no additional charge. Similarly, a 1-Minute Interval Intra-Day ad-hoc (historical) purchaser may request 10-Minute and/or EOD historical data for the same date range at no extra charge.
20% discount for single $20,000+ purchases
Footnote changes clarify that any single purchase of EOD and/or 10-Minute Interval Intra-Day historical data totaling $20,000 or more by an existing subscriber of an Intra-Day (10-Minute Interval) subscription or an End-of-Day subscription will receive a 20% discount when purchasing the same category of historical data for which they have a monthly subscription.
Historical data available back to March 2019
Ad-hoc historical requests for the 1-Minute Report may include any months beginning with March 2019 for which the Exchange has data. Purchasers can request one or more months of historical data starting from that date.
Availability and filing dates
The Exchange filed the fee change on January 30, 2026 (effective immediately under the filing rules), and announced the 1-Minute Report would be available for purchase beginning February 2, 2026.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
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!
2026-11657 — Franklin Resources, Inc.
Franklin Resources, Inc. is asking the SEC for special permission to create investment groups just for its employees, letting them skip some usual rules. This change mainly affects Franklin’s workers and could make it easier and faster to manage these employee investment partnerships. If no one objects by July 6, 2026, the SEC will approve this exemption, which might save time and money for Franklin and its employees.
2026-11682 — Self-Regulatory Organizations; Texas Stock Exchange LLC; Notice of Filing of a Proposed Rule Change To Amend Rule 13.003 Related to Proxy Voting
The Texas Stock Exchange is changing its rules to make sure members vote uninstructed shares fairly by matching how other shareholders vote. This affects anyone holding TXSE-listed stocks and aims to make proxy voting more transparent and balanced. The new rule kicks in soon and could impact how shareholder meetings run, but it doesn’t involve extra costs.
2026-11683 — Self-Regulatory Organizations; Nasdaq Phlx, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Permit Non-Conforming Ratios
Nasdaq Phlx is shaking things up by letting Complex Orders trade with both regular and unusual ratios on their trading platform and auctions. This change affects traders using the Complex Order Book and aims to boost flexibility and trading options starting immediately. No extra fees or delays—just more ways to trade smarter and faster!
Previous / Next Documents
Previous: 2026-03023 — Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the MIAX Sapphire Options Exchange Fee Schedule To Establish Fees for the 1-Minute Report and Establish an Academic Discount for Ad Hoc Purchases of Historical 1-Minute Report Data
MIAX Sapphire is updating its fee schedule to start charging for a new 1-Minute Report that shows quick market data. They’re also giving a special discount to schools buying historical 1-Minute Report data. These changes kicked in right away on January 30, 2026, and affect anyone using or buying this fast market info.
Next: 2026-03025 — 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 Establish Fees for the 1-Minute Report and Establish an Academic Discount for Ad Hoc Purchases of Historical 1-Minute Report Data
MIAX Pearl is updating its fee schedule to start charging for a new 1-Minute Report that shows quick trading data. They’re also offering a special discount for schools and researchers buying historical 1-Minute Report data. These changes take effect right away and affect anyone using or buying this data from the exchange.