# 2026-12250: Exchange Quietly Adds Fees for Trade Reports

2026-12250, Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fee Schedule To Establish Fees for the Trade-by-Trade Report, is a Federal Register notice from Securities and Exchange Commission published 2026-06-18, effective 2026-06-01; PRIA reads it as touching household money (as of 2026-06-25).

- Canonical: https://policyrisk.com/federal-register/2026-12250
- As of: 2026-06-25
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-12250
- Title: Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fee Schedule To Establish Fees for the Trade-by-Trade Report
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 36910
- Published: 2026-06-18
- Effective: 2026-06-01
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-25

## In one line

Exchange Quietly Adds Fees for Trade Reports

## 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.

## Effects PRIA read

- Monthly $10,000 report subscription: cost, high. 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: cost, high. 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: benefit, medium. 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 e…
- Academic ad‑hoc discount: $18,000 first year: benefit, medium. 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…
- New‑subscriber billing: charged full month: cost, low. 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): cost, low. 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.

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## Sources
- [2026-12250 on federalregister.gov](https://www.federalregister.gov/documents/2026/06/18/2026-12250/self-regulatory-organizations-miami-international-securities-exchange-llc-notice-of-filing-and)
- [2026-12250 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-06-18/pdf/2026-12250.pdf)

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- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-12250 (as of 2026-06-25).