MIAX Options Fees Get a Quick Competitive Makeover
Published Date: 2/18/2026
Notice
Summary
MIAX Options Exchange is updating some of its non-transaction fees to better match what other exchanges charge. These changes affect traders and firms using MIAX’s services and take effect right away, aiming to keep things fair and competitive. If you use MIAX, expect some fee tweaks that could impact your costs starting now!
Analyzed Economic Effects
8 provisions identified: 0 benefits, 7 costs, 1 mixed.
EEM Monthly Trading Permit Hike
If you are an Electronic Exchange Member (EEM) on MIAX, the monthly Trading Permit fee increases from $1,500 to $2,000 per Trading Permit. The Exchange says this change is immediately effective.
Market Maker Permit Fee Increases
If you are a MIAX Market Maker, the Exchange raises its tiered monthly Trading Permit fees to $9,500, $16,000, $23,000, and $29,500 depending on the number/volume of classes you are assigned. The Exchange also increases the alternative lower Market Maker permit fee from $15,500 to $16,000 per month.
Network Connectivity Fee Increases
If you (or your firm) connect to MIAX data centers, connectivity fees rise: 1Gb primary/secondary from $1,400 to $1,500; 1Gb disaster recovery from $550 to $650; 10Gb disaster recovery from $2,750 to $3,500; and 10Gb ultra-low latency primary/secondary from $13,500 to $15,000. The Exchange states these fee changes are immediately effective.
FIX Port Monthly Fee Rise
If you use MIAX FIX Ports, monthly fees increase: 1st FIX Port from $550 to $700; 2nd–5th FIX Ports from $350 to $450 each; 6th+ FIX Ports from $150 to $200 each. The Exchange reports these fee changes are immediately effective.
Full-Service MEI Port Tier Changes
If you are a Market Maker using Full Service MEI Ports, MIAX raises the tiered monthly fees (e.g., $5,000→$6,500; $10,000→$13,500; $14,000→$19,000; $17,500→$23,500; $20,500→$27,500). Separately, MIAX reduces the alternative lower Full Service MEI Port fee for some Market Makers from $14,500 to $13,500 per month if they meet certain low-volume thresholds.
Limited-Service MEI Extra Port Fee Increase
If you are a Market Maker and request additional Limited Service MEI Ports beyond the four free per matching engine, the monthly fee increases from $275 to $350 per additional Limited Service MEI Port per matching engine. MIAX indicates these changes are immediately effective.
FXD Port Monthly Fee Increase
If your firm is credentialed to use MIAX FIX Drop Copy (FXD) Ports, the monthly FXD Port fee rises from $500 to $675 per FXD Port. The Exchange indicates the fee change is immediately effective.
Purge Port Fee Increase
If you are a Market Maker using Purge Ports, MIAX increases the monthly fee from $300 to $400 per matching engine. The Exchange notes this change is immediately effective.
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Department and Agencies
Related Federal Register Documents
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Next: 2026-03133, 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 Amend Non-Transaction Fees
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