MIAX Pearl Rolls Out Trade-by-Trade Data Product
Published Date: 5/21/2026
Notice
Summary
MIAX PEARL is rolling out a new Trade-by-Trade Report that shows detailed info on every options trade made on their exchange. Both members and non-members can buy this report, which updates daily and is ready overnight. This change kicks in right away, helping traders and firms get clearer, faster trade data without delay.
Analyzed Economic Effects
4 provisions identified: 3 benefits, 1 costs, 0 mixed.
Exchange Sells Trade-by-Trade Data
MIAX PEARL is offering a new Trade-by-Trade Report that members and non-members may purchase. The Exchange says the product is voluntary, will be available to individual customers, buy-side investors, and investment banks, and the Exchange will set fees in a separate filing.
Data Delivered Overnight (T+1)
The Report will be produced and updated at the end of each trading day and made available to subscribers overnight after midnight Eastern Time (T+1). The Exchange states the data is strictly historical and cannot be used to influence intraday trading decisions.
Detailed Trade Fields Included
Each row in the Report will show one side of a trade and include trade date, session, trade time, trade ID, transaction ID, underlying symbol, expiration, strike, put/call, penny or non-penny class, quantity, price, buy/sell side, open/close indicator, origin (e.g., Market Maker, broker-dealer, Priority Customer), NBBO and PBBO indicators, and a trade segment code.
Fees To Be Set Separately
The Exchange intends to submit a separate rule filing to establish fees for the Trade-by-Trade Report; no fee amounts are provided in this filing. The Report is voluntary and only available to subscribers who choose to purchase it.
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Key Dates
Department and Agencies
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Previous: 2026-10145 — Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Establish the Trade-by-Trade Report
MIAX Emerald is rolling out a new Trade-by-Trade Report that shows detailed info on every options trade made on their exchange. Both members and non-members can buy this report, which updates daily and is ready overnight. This change helps traders get clearer, up-to-date data with no immediate cost changes announced.
Next: 2026-10147 — Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 307, Position Limits, and Exchange Rule 309, Exercise Limits, To Increase the Position and Exercise Limits for iShares Bitcoin Trust ETF
Miami International Securities Exchange (MIAX) is raising the limits on how many options traders can hold and exercise for the iShares Bitcoin Trust ETF (IBIT). This change lets traders handle bigger positions starting right away, making trading more flexible and competitive. If you trade IBIT options, get ready for bigger moves and more opportunities to grow your investments!