MIAX Options Revamps Stale Non-Transaction Fees
Published Date: 4/13/2026
Notice
Summary
MIAX Options Exchange is updating its fee schedule by changing some non-transaction fees that haven’t been touched in years. These updates will make MIAX’s fees more in line with other exchanges, affecting traders and firms using the platform. The new fees take effect immediately, so users should check the changes to avoid surprises in their costs.
Analyzed Economic Effects
10 provisions identified: 1 benefits, 9 costs, 0 mixed.
EEM monthly permit fee rises
If you hold an Electronic Exchange Member (EEM) Trading Permit on MIAX, your flat monthly fee increases from $1,500 to $2,000 per Trading Permit.
Market Maker permit fees jump
MIAX raises monthly Market Maker Trading Permit tiers to $9,500 (up to 10 classes), $16,000 (up to 40 classes), $23,000 (up to 100 classes), and $29,500 (over 100 classes). The alternative lower fee for certain low-volume Market Makers increases from $15,500 to $16,000.
Connectivity fees for data links increase
Monthly connectivity fees for Members and non-Members rise: primary/secondary 1Gb from $1,400 to $1,500; disaster recovery 1Gb from $550 to $650; disaster recovery 10Gb from $2,750 to $3,500; and 10Gb ultra-low latency (ULL) to primary/secondary from $13,500 to $15,000.
FIX port monthly fees up
MIAX increases monthly FIX Port fees to $700 for the first FIX Port (was $550), $450 for ports 2–5 (was $350), and $200 for the sixth or more FIX Ports (was $150).
Full Service MEI port fees rise
Monthly Full Service MEI Port fees for Market Makers increase to $6,500 (up to 5 classes), $13,500 (up to 10 classes), $19,000 (up to 40 classes), $23,500 (up to 100 classes), and $27,500 (over 100 classes).
Lower MEI fee reduced for qualifying MM
MIAX decreases the alternative lower Full Service MEI Port monthly fee for qualifying Market Makers from $14,500 to $13,500 if their monthly executed volume is less than 0.060% of total monthly executed volume.
FXD drop-copy port fee rises
The monthly fee per FIX Drop Copy (FXD) Port increases from $500 to $675 for any month a Member is credentialed to use the FXD Port in production.
Limited Service MEI extra port fee up
Additional Limited Service MEI Ports (beyond the four free per matching engine) increase in price from $275 to $350 per month per additional port for each matching engine.
Purge port fee increases
MIAX increases the monthly Purge Port fee from $300 per matching engine to $400 per matching engine.
Fee changes are immediately effective
MIAX announced the proposed non-transaction fee changes (alerts dated October 14, 2025 and December 19, 2025) and the fees subject to this filing are immediately effective as of the filing period.
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Key Dates
Department and Agencies
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Previous / Next Documents
Previous: 2026-07040 — 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
MIAX Pearl Options Exchange is updating its non-transaction fees to better match what other options exchanges charge. This change affects traders and firms using the platform and takes effect immediately, aiming to keep fees fair and competitive. If you use MIAX Pearl, expect some fee updates that could impact your costs starting now!
Next: 2026-07042 — Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the MIAX Emerald Options Exchange Fee Schedule To Amend Non-Transaction Fees
MIAX Emerald is updating its fee schedule to change some non-transaction fees that haven’t been touched in years. These updates will make their fees more in line with other options exchanges, affecting traders and firms using the platform. The new fees kicked in right away on March 25, 2026, so everyone should check the changes to avoid surprises.