Exchange Quietly Adds Fees for Trade Reports
Published Date: 6/18/2026
Notice
Summary
Miami International Securities Exchange (MIAX) is adding new fees for their Trade-by-Trade Report starting now. Traders and firms who want this detailed report will pay a monthly subscription or a fee for one-time historical data requests, with discounts if they also buy related reports. This change helps MIAX cover costs and keeps the data flowing smoothly.
Analyzed Economic Effects
6 provisions identified: 2 benefits, 4 costs, 0 mixed.
Monthly $10,000 report subscription
MIAX will charge a $10,000 monthly subscription fee to receive the Trade-by-Trade Report. This fee is effective beginning June 1, 2026.
Ad‑hoc historical data fee: $6,000/month
MIAX will charge $6,000 per month for ad-hoc historical requests of the Trade-by-Trade Report, and ad-hoc requests may cover any number of months beginning with January 2013 for which data is available. This fee is effective June 1, 2026.
Discount to $3,000 if you also bought 1‑Minute Report
If you purchase (or previously purchased) an ad-hoc historical request for the 1-Minute Report for the same date or date range, MIAX will let you buy the Trade-by-Trade Report for a discounted rate of $3,000 per request per month instead of $6,000. This discount is part of the Fee Schedule change effective June 1, 2026.
Academic ad‑hoc discount: $18,000 first year
Qualifying academic users may purchase ad-hoc historical Trade-by-Trade Report data for $18,000 for the first year and $1,500 per month for each additional month; this academic discount applies only to ad-hoc requests (not the monthly subscription) and is effective June 1, 2026. Academic purchasers must meet criteria such as being an accredited academic institution or faculty/staff, using the data for independent academic research or teaching, and not having industry funding for the research.
New‑subscriber billing: charged full month
New subscribers to the Trade-by-Trade Report will be charged for the full calendar month in which they subscribe and will be provided Report data for each trading day of the calendar month prior to the day they subscribed. This billing rule is part of the Fee Schedule changes effective June 1, 2026.
Report is T+1 historical (not intraday)
The Trade-by-Trade Report will be produced and updated at the end of each trading day and made available overnight after midnight Eastern Time (T+1), so the data is strictly historical and cannot be used to influence intra-day trading decisions.
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
2026-12163 — The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
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!
2026-12259 — Self-Regulatory Organizations; Nasdaq Texas, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Exchange's Options Regulatory Fee (ORF)
Starting July 1, 2026, Nasdaq Texas is raising the fee traders pay when they trade options, called the Options Regulatory Fee (ORF). This change affects anyone trading options on Nasdaq Texas and updates how the fee is described to match other Nasdaq exchanges. The new fee kicks in right after the filing, so traders should get ready for a slightly higher cost soon!
2026-12253 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Provide the Exchange With Explicit Authority To Adjust the Issue Price of a ETP IPO Security for Purposes of Applying the Collar Price Range to an ETP IPO Auction
Cboe BZX Exchange just got the green light to tweak the starting price of new ETP IPOs during their special auctions. This change helps keep prices fair and within a set range, making the whole process smoother for investors and the market. The new rule is effective immediately, so expect quicker, clearer price setups for these new investment products.
Previous / Next Documents
Previous: 2026-12249 — Terramont Infrastructure Partners LLC-Control Exemption-Hainesport Transportation Group, LLC, Hainesport Industrial Railroad, LLC, and Hainesport Secondary Railroad, LLC
Terramont Infrastructure Partners LLC is set to take control of Hainesport Transportation Group, which owns two small railroads in New Jersey. This change won’t affect any big rail connections or require extra approvals, making the process smooth and quick. The deal can officially happen starting July 4, 2026, with no major costs or disruptions expected.
Next: 2026-12251 — 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 Establish Fees for the Trade-by-Trade Report
MIAX Emerald is updating its fee schedule to start charging for its Trade-by-Trade Report. Traders and firms who want this detailed options data will now pay a monthly subscription or fees for special historical data requests, with some discounts if they also buy related reports. These changes kicked in right away on June 1, 2026, so get ready to budget for the new costs!