MIAX PEARL Updates Rule 531 for Quote Cancellation Tracking
Published Date: 5/1/2026
Notice
Summary
MIAX PEARL is updating a rule about how quickly they track cancelations of resting quotes after trades happen. This change affects traders who use the Exchange’s Purge Liquidity Taker Report and helps keep timing records accurate. The new rule is effective immediately, with no extra costs involved.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Report window widened to 500 microseconds
If you subscribe to MIAX Pearl's Purge Liquidity Taker Report, the Exchange changed the cutoff for showing when a purge message missed canceling a resting quote from 100 microseconds to 500 microseconds. This change became operative upon filing on April 15, 2026 and affects the historical daily report data you receive (available generally on a T+1 basis).
Optional T+1 report for Market Makers
The Purge Liquidity Taker Report is an optional product available to Exchange Market Makers and provides historical trading and purge timing data for the previous trading day, generally on a T+1 basis. The Report is specific to the subscribing Market Maker and does not include other members' trading data.
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
2026-07651 — 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!
2026-09992 — Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rule 611
The SEC is asking to keep collecting info from about 305 financial firms to make sure they follow Rule 611, which stops bad trades that hurt investors. These firms spend around 60 hours a year updating their rules to avoid trading at worse prices than others. This extension keeps things running smoothly with an estimated yearly cost of about $9.5 million for legal and compliance work.
2026-09960 — Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 515A, MIAX Emerald Price Improvement Mechanism and PRIME Solicitation Mechanism
MIAX Emerald is updating its rules to let Market Makers join special auctions called PRIME and cPRIME as potential trading partners. This change helps speed up trades and could improve prices for investors using these options. The new rule took effect right after filing on May 1, 2026, so Market Makers and traders should get ready for smoother, faster deals!
2026-09967 — Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Chapter 8 of the Exchange's Rulebook Relating To Investigative and Disciplinary Matters
Cboe EDGX Exchange is updating its rules about how it investigates and disciplines its members and their associates. These changes clarify who the Exchange can discipline and improve the process to keep things fair and clear. The new rules took effect right after filing on May 4, 2026, with no new fees involved.
2026-10015 — U.S. Bancorp, et al.; Notice of Application and Temporary Order
U.S. Bancorp and its partners got a temporary green light to keep doing some fund services despite a court order against BTIG from 2022. This temporary okay lasts until the SEC decides on a permanent solution, so things keep running smoothly without money hiccups. If you want to speak up, you’ve got until June 9, 2026, to ask for a hearing.
2026-09990 — Self-Regulatory Organizations; 24X National Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend 24X Rule 1.5(c) To Extend by Seven (7) Months the Deadline by Which 24X Must File With the Commission the 24X Market Session Proposed Rule Change Regarding the Commencement of the 24X Market Session
24X National Exchange is getting an extra seven months to file a rule change about when their market session starts. This gives them more time to get everything just right before sharing it with the SEC. Traders and market watchers should keep an eye out for updates, but no money changes or risks are happening right now.
Previous / Next Documents
Previous: 2026-08471 — Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing of a Proposed Rule Change To Permit the Listing of A.M.-Settled Options on the S&P 500 Index that Expire on Any Monday, Tuesday, Wednesday, Thursday, or Friday (other than the Third Friday-of-the-Month or Days that Coincide With an End-of-Month Expiration) and Expire on the Last Trading Day of the Month
Cboe Exchange wants to offer new S&P 500 options that settle in the morning and can expire on almost any weekday—except the usual third Friday or end-of-month days. This gives traders more flexibility and fresh ways to manage their investments. The change could start soon after approval, opening up new chances to trade and potentially save or make money.
Next: 2026-08473 — Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fee Schedule for Trading on the BOX Options Market LLC Facility To Modify Certain Rebate Tiers for Qualified Contingent Cross Transactions
BOX Exchange is updating its fee schedule to change rebate levels for certain special trades called Qualified Contingent Cross (QCC) transactions. This means traders using QCCs might see different rebates starting right away, helping the market stay fair and competitive. If you trade options on BOX, keep an eye on these new rebate rules—they’re effective immediately as of April 14, 2026.